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February 23, 2009

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Comments

Rob

I think moving the 1-cent tax earmark out to the targeted commercial areas is an excellent idea. We've had the chance to witness the benefit that this earmark has had on downtown, and now it is time for us to spread the money to the five commercial districts targeted by the Office of Economic and Workforce Development. A first step can be using the funds to help pay for the streetscape initiative that is currently seeking funding. We should also build up the accounts we have for facade improvements and matching funds for business investment in these corridors.

Todd

Moving the 1-cent earmark away from downtown would delay or kill any prospect of undoing the downtown loop. That does not seem like a very good idea.

A better choice would be to add a penny to the tax rate to fund the projects Rob mentioned.

Rob

Todd-
I was wondering what future projects would be funded by the 1-cent downtown revitalization fund. I definitely don't want to see other projects cut, especially when the projects getting cut are of the same nature of the projects getting funded. It isn't good for community groups/neighborhoods to have to fight over money like that.

In the grand scheme of things, a penny isn't that much. It gets ~$2.1M of revenue for the city each year, but will cost 95% of Durham home owners less than $25/year. An 'average' Durham home will pay $10-15 per year. [I admit that I made up the 95% number, but there are few houses in Durham assessed above $250k.]

But I guess the problem lies in deciding how many pennies to add. One more for street maintenance? Another one for parks? I feel guilty asking my favorite projects to be funded, because there are a lot of things in Durham that need funding.

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