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Home My WebLink About16383 1 RESOLUTION NO. 16,383 File 0$i'09,''24 16:17:54 2 Terri Hollingsworth Fulas{{,,•11 r r t Sounty Clerk 3 A RESOLUTION TO STATE THE USE OF THE 1 J SAL S� �1I� 4 COMPENSATING USE TAX FUNDS UPON APPROVAL OF THE TAX 5 LEVY BY THE VOTERS AT A SPECIAL ELECTION TO BE HELD ON 6 NOVEMBER 5,2024;AND FOR OTHER PURPOSES. 7 8 WHEREAS, pursuant to Little Rock, Ark., Ordinance No. 22,484 (July 30, 2024), and Little Rock, 9 Ark., Ordinance No. 22,486 (July 30, 2024), the Board of Directors of the City of Little Rock,Arkansas 10 ("the Board")levied an additional 3/8-Cent(.375%)general Sales and Compensating Use Tax for operations 11 purposes,and an additional 5/e-Cent(.625%)general Sales and Compensating Use Tax for capital purposes; 12 and, 13 WHEREAS,the Board directed that the 5/8-Cent(.625%)additional general Sales and Compensating 14 Use Tax for general capital purposes would expire on December 31, 2034, or at the end of ten (10)years 15 from the date that its collection began;and, 16 WHEREAS,the Board set the date of November 5,2024,as the date of a special election for the voters 17 to approve or reject the additional levy of either,or both, Sales and Compensating Use Taxes("the Taxes"); 18 and, 19 WHEREAS,in order to inform the electors of the City of the various uses that have been identified for 20 the proceeds from the additional Sales and Compensating Use Taxes("the Tax Levy");and, 21 WHEREAS, this resolution, while not a part of the ballot title, is intended to serve as a Statement of 22 Intent of the Board on how to expend the estimated Six Hundred Fifty Million Dollars($650,000,000.00) 23 from the proceeds of the first ten(10)years of the Tax Levy, for the uses set forth below. 24 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 25 OF LITTLE ROCK,ARKANSAS: 26 Section 1. As set forth more fully below, the Board expresses its intent to expend the estimated 27 proceeds from the Taxes for needs in the following general categories as follows: 28 A. Public Safety 29 B. Homelessness 30 C. Affordable Housing 31 D. Parks and Quality of Life 32 E. Public Infrastructure 33 F. Port Expansion and Economic Development 34 G. Information Technology (Page 1 of 61 1 H. Downtown Investments 2 I. General Capital Improvements 3 Section 2. Taxes for Public Safety. 4 (a) Operating Tax Expenditures: One Hundred Thirteen Million Dollars($113,000,000.00) 5 a. $ 8,000,000.00 West Little Rock Fire Station Operations 6 b. $ 15,000,000.00 Community-Oriented Policing&Mental Health Response Teams 7 c. $30,000,000.00 Technology: Real Time Crime Center&Field Operations 8 d. $ 50,000,000.00 Public Safety&Code Enforcement Vehicles&Apparatus 9 (w/EV's) 10 e. $ 5,000,000.00 Fire Station Renovation Fund 11 f. $ 5,000,000.00 Code Enforcement 12 (b) Capital Tax Expenditures: Zero Dollars($0.00) 13 Section 3. Taxes for Homelessness. 14 (a) Operating Tax Expenditures:Twenty Million Dollars($20,000,000.00) 15 (b) Capital Tax Expenditures: Zero Dollars($0.00) 16 Section 4. Taxes for Affordable Housing. 17 (a) Operating Tax Expenditures: Zero Dollars($0.00) 18 (b) Capital Tax Expenditures: Ten Million Dollars($10,000,000.00) 19 Section 5. Taxes for Parks and Quality of Life. 20 (a) Total Tax Expenditures: Two Hundred Ninety-Nine Million, Seven Hundred Fifty 21 Thousand Dollars;($299,750,000.00): 22 (b) Operating Tax Expenditures: Forty-Five Million, Seven Hundred Fifty Thousand Dollars 23 ($45,750,000.00). 24 a. $10,000,000.00 General Park Improvements&Maintenance 25 b. $ 2,500,000.00 General Trail Improvements&Maintenance 26 c. $ 1,000,000.00 Hindman Park Improvements 27 d. $ 1,000,000.00 War Memorial Park Improvements 28 e. $ 4,000,000.00 Indoor Sports Complex 29 f. $ 4,000,000.00 Outdoor Sports Complex 30 g. $ 2,000,000.00 West Central Complex: Swimming Pool 31 h. $ 1,500,000.00 Senior Center and Pickleball 32 i. $ 0.00 Murray/Rebsamen Park Soccer 33 j. $ 1,000,000.00 Jim Dailey Fitness&Aquatic Center Pool 34 k. $ 0.00 Fifteen(15)-Acre Park Downtown 35 1. $ 1,250,000.00 1St Tee Golf Expansion&Rebranding [Page 2 of 61 1 m. $ 4,000,000.00 Rebsamen Golf Pro Shop& Renovation 2 n. $ 2,000,000.00 Community Center Investment 3 o. $ 1,500,000.00 Rebsamen Tennis Center Indoor Complex 4 p. $ 0.00 Zoo Master Plan Implementation 5 q. $10,000,000.00 Zoo Operations Increase 6 (c) Capital Tax Expenditures: Two Hundred Forty-Nine Million Dollars($249,000,000.00): 7 a. $16,500,000.00 General Park Improvements & Maintenance 8 b. $ 5,000,000.00 General Trail Improvements& Maintenance 9 c. $14,000,000.00 Hindman Park Improvements 10 d. $14,000,000.00 War Memorial Park Improvements 11 e. $60,000,000.00 Indoor Sports Complex 12 f. $55,000,000.00 Outdoor Sports Complex 13 g. $ 8,000,000.00 West Central Complex: Swimming Pool 14 h. $ 3,000,000.00 Senior Center and Pickleball 15 i. $ 1,500,000.00 Murray/Rebsamen Park Soccer 16 j. $ 3,000,000.00 Jim Dailey Fitness&Aquatic Center Pool 17 k. $10,000,000.00 Fifteen(15)-Acre Park Downtown 18 1. $ 3,000,000.00 1"Tee Golf Expansion & Rebranding 19 m. $10,000,000.00 Rebsamen Golf Pro Shop& Renovation 20 n. $ 8,000,000.00 Community Center Investment 21 o. $ 8,000,000.00 Rebsamen Tennis Center Indoor Complex 22 p. $30,000,000.00 Zoo Master Plan Implementation 23 q. $ 0.00 Zoo Operations Increase 24 Section 6.Taxes for Public Infrastructure. 25 (a) Total Tax Expenditures: One Hundred Thirty-Four Million Dollars($134,000,000.00) 26 (b) Operating Tax Expenditures: Forty-Eight Million Dollars($48,000,000.00): 27 a. $ 0.00 Strategic Infrastructure Developments 28 b. $ 0.00 Targeted Community Development Infrastructure 29 c. $48,000,000.00 Street Resurfacing, Sidewalks and Infrastructure 30 d. $ 0.00 Sustainable Infrastructure 31 (c) Capital Tax Expenditures: Eighty-Nine Million Dollars($89,000,000.00) 32 a. $ 80,000,000.00 Strategic Infrastructure Developments. 33 b. $ 5,000,000.00 Targeted Community Development Infrastructure. 34 c. $ 0.00 Street Resurfacing, Sidewalks and Infrastructure. 35 d. $ 1,000,000.00 Sustainable Infrastructure [Page 3 of 6] 1 c. $ 3,000,000.00 Equipment for Trash Collection 2 Section 7. Taxes for Port Expansion and Economic Development. 3 (a) Operating Tax Expenditures: Zero Dollars($0.00). 4 (b) Capital Tax Expenditures:Thirty Million Dollars($30,000,000.00) 5 a. $22,000,000.00 Economic Development Impact Fund 6 h. $ 8,000,000.00 Port Infrastructure and Expansion 7 Section 8. Taxes for Information Technology. 8 (a) Total Tax Expenditures:Twelve Million,Two Hundred Fifty Thousand Dollars($12,250,000.00) 9 (b) Operating Tax Expenditure: Eleven Million, Five Hundred Thousand Dollars 10 ($11,500,000.00) 11 (c) Capital Tax Expenditure: Seven Hundred Fifty Thousand Dollars($750,000.00) 12 Section 9.Taxes for Downtown Investments. 13 (a) Total Tax Expenditure: Sixteen Million Dollars($16,000,000.00) 14 (b) Operating Tax Expenditure: Four Million Dollars($4,000,000.00) 15 a. $1,000,000.00 Downtown Little Rock Development 16 b. $ 0.00 River Market Hall Renovation 17 c. $3,000,000.00 Museum of Discovery 18 (c) Capital Tax Expenditure: Twelve Million Dollars($12,000,000.00) 19 a. $9,000,000.00 Downtown Little Rock Development 20 b. $3,000,000.00 River Market Hall Renovation 21 c. $ 0.00 Museum of Discovery 22 Section 10. Taxes for General Capital Improvements. 23 (a) Total Tax Expenditure: Fifteen Million Dollars($15,000,000.00) 24 (b) Operating Tax Expenditure: One Million,Five Hundred Thousand Dollars($1,500,000.00) 25 a. $ 0.00 Downtown Parking Decks 26 b. $ 0.00 Enterprise Resource Planning(ERP)System 27 c. $ 1,500,000.00 Broadway and Downtown Bridge Lights 28 (c) Capital Tax Expenditure: Fifteen Million,Five Hundred Thousand Dollars($15,500,000.00) 29 a. $10,000,000.00 Downtown Parking Decks. 30 b. $ 1,000,000.00 Enterprise Resource Planning(ERP)System 31 c. $ 2,500,000.00 Broadway and Downtown Bridge Lights 32 d. $ 2,000,000.00 Repairs to City-Owned Structure 33 Section 11. Anticipated Receipts and Use of Any Amounts Over the Receipts. The total tax 34 collections over the next ten (10)-year period are anticipated to be Six Hundred Fifty Million Dollars 35 ($650,000.000.00). For any year in which the collection of the Taxes exceed the amount needed to fund [Page 4 of 6] 1 the Operational or Capital Improvements set forth above, the Board declares that it will allocate any 2 additional funds as follows: 3 (a) The first One Million Dollars($1,000,000.00)each year shall be transferred into a Contingency 4 Fund to cover any unexpected expenses during that year to enable the City to fulfill the 5 obligations set forth in this resolution to its residents;and, 6 (b) Any amount more than the One Million Dollars ($1,000,000.00) shall be transferred into a 7 special City Infrastructure Fund which shall have a division for Capital Tax Receipts, and a 8 division for Operations Tax Receipts; and, 9 (c) Any allocation from the two (2) funds is subject to City Board approval based on 10 recommendations from the Mayor and review of the Oversight Committee;and, 11 (d) At the end of ten(10)years,any funds remaining in the Contingency Fund will be transferred 12 to the"Infrastructure Fund." 13 Section 12. Oversight Committee. An Oversight Committee, composed of eleven (11) members, 14 shall monitor the spending of the proceeds of the Sales and Compensating Use Tax to assure that such 15 spending is in compliance with the provisions of this resolution and: 16 (a) All members of the Committee,whether for an initial appointment or to fill a vacancy, shall 17 be appointed by the Mayor, after consultation with the appropriate member of the Board of 18 Directors,and subject to approval by a majority of the Board of Directors;and, 19 (b) A member shall serve a term of four(4)years;and, 20 (c) The initial members shall draw lots with four (4) lots marked four(4), three (3) lots marked 21 (3),two(2)lots marked two(2),and two(2)lots marked two(2);the initial term of the person 22 drawing a particular lot will be the number of years noted on that lot;and, 23 (d) Members shall be eligible to serve more than one(1)-term;and, 24 (e) If a vacancy occurs in any position, by death, resignation, or otherwise, the sitting Board 25 Member from the position that selected such person shall consult with the Mayor as to the 26 successor. For purposes of this Subsection,the Board shall be numbered one(1)to eleven(11) 27 with Ward 1 being Position One, and proceed sequentially with Ward and At-Large Members 28 numbered one(1)through ten(10), and the position of Mayor numbered position eleven(11). 29 Section 13. Modification of Uses Proposed in this Resolution. No change to any category or project 30 set forth in this resolution shall be permitted unless this resolution is expressly amended by resolution of 31 the Board of Directors. 32 Section 14. Severability. In the event any title, subtitle, section, subsection, subdivision, paragraph, 33 subparagraph,item,sentence,clause,phrase,or work of this resolution is declared or adjudged to be invalid 34 or unconstitutional,such declaration or adjudication shall not affect the remaining portions of the resolution, [Page 5 of 61 1 which shall remain in full force and effect as if the portion so declared or adjudged invalid or 2 unconstitutional was not originally a part of this resolution. 3 Section 15. Repealer.All ordinances,resolutions, or parts of the same that are inconsistent with the 4 provisions of this ordinance,are hereby repealed to the extent of such inconsistency. 5 ADOPTED: July 30,2024 6 ATTEST: APPROVED: 7 8 A ttikko 251-- erzpke 9 Allison Segars, puty City Clerk Frank Scott,Jr.,-Mayo. 10 APPROVED AS TO LEGAL FORM: I1 12 41c.K✓ 13 Thomas M.Carpenter,City Att*ney 14 // 15 // I6 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 1/ 33 // 34 // 35 // (Page 6 of 61