Carbondale Bytelife

Instead of being up about $100,000 over 2008, it looks like Carbondale's sales tax collection will run about $300,000 below projections. Not good, but certainly livable. Given the lousy economy, I guess we should be glad it's not much more than that.

Labels: Carbondale, economy, sales tax

Looks like the stock market's gyrations are really hurting the university in general and the Saluki Way project in particular. Bonds to finance the project aren't selling as well as projected and donations aside from the city's, are sitting at $5.5 million, still a long way from the $21.5 million neeeded. This post points out a much better use of the $20 million geneated by the increase in the C'dale sales tax. More scholaarships would bring in more students, generating more fees, eventually allowing the building of a new stadium and Arena, instead of the hope that by building new sporting facilities, the univeristy will attract more students.

Labels: Carbondale, sales tax, Saluki Way, siuc

Looks like the new fire station and public safety/police station will be costing a wee bit more than originally estimated. The estimated cost of the fire station, according to the Aug. 2007 city council action sheet was $1.25 million. According to the 2009 Community Investment Plan, available at City Hall, the cost is now projected at $1.875. The police station was estimated at $6.2 million, now it's estimated to run about $7.6 million.

I don't remember if the amount generated by the sales tax increase was projected large enough to cover the additional $2 million now needed for these two projects. I hope so, otherwise I see the money coming out of the already endangered general fund.

Labels: City council, city government, sales tax

According to this article in today's Southern, even with this year's sales tax increase, the city is coming up about $440,000 short in projected revenues for fiscal year 2008. While the difference can be made up out of the general fund, the city's pension funds are also underfunded and will reduce the general fund by about $4 million over the next few years. This year's sales tax increase was not designed to add revenue to the general fund, but rather to pay for needed improvements to the city: fire station, police departments, greenway improvements, SIUC sports complex. If the economy keeps heading south, we can expect to see the general fund take major hits to pay for keeping pensions at the mandated level.

Labels: city government, economy, sales tax