YOUR BUSINESS AUTHORITY
Springfield, MO
The Springfield-Greene County Park Board is planning to turn greenbacks into greenspace.
The quarter-cent park improvements sales tax increase approved by voters last fall has given the Park Board the financial backing to meet its vision for area parks and greenspace.
Effective July 1 with a five-year lifespan, the tax is projected to generate about $50 million for city and county park projects, improvements and land acquisitions. It will increase the city's general sales tax rate from 6.35 percent to 6.6 percent.
The tax is estimated to bring in $9.5 million its first year, according to Jeff Reinold, Greene County budget officer. He said the annual figures are projected to increase at a rate of about 3 percent each year, which would see annual revenues peak at $11.2 million in 2006.
Park projects
A number of projects are planned for completion by the end of 2003 at an estimated cost of about $18.38 million, said Park Board Director Dan Kinney, including Dickerson Park Zoo's master plan projects, Doling Park Family Center & Senior Center and Chesterfield Family Aquatic Center.
Acquisition of more than 500 acres of land rounds out the first-year plans.
Kinney said the Park Board will acquire 150 acres west of Springfield, known as the Rutledge farm, for $1.5 million, and almost 200 acres of property near Rivercut. That land has not yet been appraised.
Other planned land acquisitions are for 20 miles of trails, he said.
"The initiatives on the ballot were really raw land, or land that we knew would sooner or later fall into the category of land to be developed," said Greene County Commissioner Dave Coonrod. "If you don't reach out and set aside several acres pretty soon, you're looking at one subdivision against the next and there's no greenspace. That's really the motive of picking some pretty large parcels that we could acquire now ahead of development."
For initial funding, the Parks Department received $19 million financed by city revenue bonds, said Kinney.
"That's probably what we'll get accomplished this first year," Kinney said. "And then we will pay that back as the money comes in."
According to the county's projections, $19.7 million will be available to fund those projects by June 30, 2003.
At the end of the five years, Kinney said, the park board hopes to have invested $16.5 million in property acquisition, $19.5 million in project development and $11.9 million in support service, maintenance and repair. He said $724,000 will be reserved "for any projects that might need a little extra help."
"I think it ensures the future of parks and open space and greenways for Springfield and Greene County," Kinney added. "It lets us acquire those natural sites so that future parks are here for the next generations."
The county's piece of pie
"The exciting part about this new park tax is the opportunity it creates for other area municipalities to share in the revenues," Coonrod said, of the city/county joint agreement.
Coonrod said that over the five-year period $4.2 million will be distributed for park improvements among Greene County's municipalities, based on population.
Republic receives the most with $1.8 million and is followed by Willard, $702,600; Battlefield, $524,800; Strafford, $406,000; Ash Grove, $314,600; Fair Grove, $243,600; Walnut Grove, $138,600; and Brookline, $71,700.
For Coonrod, it's gratifying to see Springfield's surrounding communities benefit from this revenue sharing.
"It's hard for them to do anything of any magnitude with the local tax funding that they have, so this is a big shot in the arm," he said. "This is another hand-in-glove effort that seemed to just continue without a hitch, where Springfield and Greene County collaborate and cooperate on a particular issue."
Slicing up the numbers
The largest portion of the 6.6 percent sales tax goes to the state of Missouri. Mary Mannix, director of finance for the city of Springfield, said the state receives 4.225 percent, the county gets 1 percent and the city sees 1.375 percent of the sales tax.
Of the state's 4.225 percent, 3 percent is reserved for general operations and 1 percent for education. The Conservation Commission gets 0.125 percent and soil conservation sees 0.10 percent.
Greene County's 1 percent portion is evenly split four ways: general revenue, law enforcement, the road and bridge fund and park improvements.
The city of Springfield receives 1.375 percent. The largest amount, 1 percent, goes toward general operations. Transportation receives 0.125 percent and capital improvements, which also was approved by voters last year, is another quarter-cent tax. The city estimates $22 million will be made available over the next three years for new and continued capital improvement projects.
This installment of Springfield Business Journal’s Architects & Engineers Project Report showcases 26 endeavors by area design and engineering professionals.
Banker pleads guilty to fraud scheme
Longtime employee sues Ozarks Tech, alleges retaliation
Cavender’s opens hat shop in southeast Springfield
Caterpillar to acquire John Fabick Tractor Co.
Eric Schmitt introduces Modern Skies Act
Springfield airport to cut the ribbon on $35M in construction projects