My former Grand Forks City Council colleague Terry Bjerke joined the program to talk the prospects of a new sales tax discussion in Grand Forks. Terry is no stranger to the the details of this discussion and walks us through what he believes to be the basics of the any substantive discussion on additional revenue for the City:
ASSUMPTION: Declining City Sales Tax Revenue & declining State Infrastructure Funding will both return to “historically normal” levels within five years
REVIEW & DEFINE RESERVES HELD IN THE FOLLOWING ACCOUNTS: Loan & Stabilization, Economic Development, JDA, Cash Carryover
DEFINE INFRASTRUCTURE PROJECTS TO BE FUNDED: a finite prioritized list of those projects to be funded by additional taxes levied on the citizens of Grand Forks
With these fiscal pieces in place, Terry believes an empirically based debate can be held on the size and length of additional taxes that the City may need to levy on the citizens of Grand Forks.