Funding Stormwater Drainage and Related Street Repairs
Reallocating Sales Tax Revenue to Stormwater Drainage
For every dollar you spend shopping and dining in Cedar Park, you pay an additional 8.25 cents in sales tax. The diagram on the right shows the current allocation of how this sales tax is currently distributed:
Proposition A would reallocate one-fourth of the Economic Development Sales Tax (1/8 of one cent) to the City’s General Fund to be used for a stormwater drainage program and related street repairs.
*Estimates are based on today’s dollars.
Under the current proposal, the reallocation would generate about $1.8* million for stormwater drainage and related street repairs in 2019. This recurring revenue will also be used to finance major projects through the issuance of bonds. The Economic Development Sales Tax would continue with a recurring revenue source of $5.4 million* and available balance for business recruitment and retention.