Madison Seeks Ways To Fund Capital Improvement Plan; Debates Sales Tax Hike
MADISON, Ala. (WHNT) – At Madison City Hall, they’ve cooked up quite a concept for the next seven years.
They’re calling it a capital improvements plan, and it involves a number of road and infrastructure changes.
The only thing left is funding it. The city government started with refinancing a bond.
Madison Mayor Troy Trulock says, “That refinancing of a bond will only cover about 37% of the capital improvements plan, so we needed to look at how do we increase revenue for the city of Madison.”
An independent consulting group came in with charts and graphs and an idea.
Trulock explains, “They did a study as an independent team. They came back and they said, without a doubt, a half-cent sales tax is appropriate for the city of Madison.”
Today the council’s chambers are dark and empty, but next week they’ll be full of life – debating that very concept.
As for city leadership – they say it makes a big difference for them without putting the hurt on citizens.
Trulock adds, “It’s about $2.6 million dollars for the city, so that’s important for us. But the half-cent sales tax equates to about twelve dollars per-household per-month to our citizens.”
We’ll see next week if the public interprets it the same way.
The sales tax is estimated to generate about $14 million dollars of the additional
$34 million or so that the Madison city government needs to implement its capital improvement plan.
The meeting is next Tuesday at 6:30 in the city council’s chambers.