Surplus Tax Revenue(Future Study for Redesigned Service Roads?)

[Plutonic Panda]

Tax revenue increase steady in Edmond
James Coburn
The Edmond Sun

EDMOND — Two years of strong sales tax growth brought the City Council to consider a 7 percent growth factor in the city’s budget for fiscal year 2014-15.

Council members met with city staff for a special workshop Monday afternoon. They also projected a 5 percent increase in the budget from FY15-16 until 2020. The budget projection is subject to revision before the next fiscal year begins July 1.

Sales tax is the city’s most critical source of revenue, said Larry Stevens, city manager.

“Our sales tax last year had a significant increase over the year before,” said Ross VanderHamm, city finance director.

Direct revenues for FY12-13 totaled $48.547 million, compared to $45.667 million in FY11-12. The city’s total revenues and transfers totaled $83.396 million in FY12-13 to exceed the $76.755 million in FY11-12, VanderHamm said.

“There is a balance of $582,000,” VanderHamm said.

If the city continues to receive 2 percent above budget for the next five months, it will generate a balance of $815,000 of money that has not been spent above the current budget.

City considers study of I-35 frontage roads

A short-term Capital Projects List has been made to show how the $815,000 may be spent, Stevens said. Most significant of the 14 items is $250,000 projected for a study of the Interstate 35 frontage roads.

“We’re talking about a long-term plan of development,” Stevens said.

Assistant City Manager Steve Commons said the current configuration of the corridors is not sufficient to meet the city’s long-term growth patterns based on areas that have already been zoned.

“The I-35 corridor is really the only place that we have for large commercial development,” Commons said.

Ramps on the corridor are not conducive for large volumes of traffic, he said. More commercial activity in those areas will increase the traffic congestion, Commons added.

“I think it’s time we take a comprehensive look at the whole corridor and say what’s it going to take when people approach us to change things out here?” Commons said. Ramp changes would involve the Federal Highway Administration.

- See more at: Tax revenue increase steady in Edmond » Local News » The Edmond Sun


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It's actually funny as I was going to send them an email tonight about the service roads

[MWCGuy]

Just wait until Saints, Mercy and INTEGRIS have developed in to major operations for that area. You can expect major growth of hotels, restaurants and retail for I-35 from Memorial to Waterloo. If developed right, they can keep it from looking like Northwest Expressway and have it more like a small town with big city amenities.