The city does not need to increase taxes to pay for the South Beltway. Last week I read two articles in the Lincoln Journal Star suggesting that a tax hike is needed to build the bypass. I would suggest rather than reaching into the taxpayer’s pocket, it is time to reach into the pots of money at City Hall. We can easily secure more than the $40 million needed to build the bypass – without increasing taxes.
We have over $5 million in cash in the “Fast Forward” fund for economic development. Is the South Beltway economic development? I could easily argue that there will be business and job growth occurring along a new South Beltway.
We have nearly $4 million in cash from telephone company lawsuit settlements. This pot of money sits in the City’s Cash Reserve Fund.
Last week LIBA inquired about Antelope Valley construction project funds. The Mayor’s office memo regarding those funds shows $6 million in unspent funds that can be earmarked for the South Beltway.
We have $5 million in a pot of money to widen Highway Two. Perhaps we should use these funds as the South Beltway should decrease traffic on Highway Two.
The Railroad Transportation Safety District has already committed $13 million to the South Beltway.
City Councilman Roy Christensen has estimated that selling surplus city property would generate $4 million. While this pot of money does not exist yet, we have several years before the funds would be needed.
Additionally, the city of Lincoln will receive $9 million in brand new money over the next 10 years from the Build Nebraska Act. Those dollars are to be spent on roads. Again, these are NEW dollars that just started to flow into the city from the state of Nebraska.
So, if you add all this up, the city has $46 million at its disposal. We only need $40 million to fund the City’s portion of this project.
This plan would not cut a single city service or fire a single city employee. Using these funds does not prevent parks from being mowed, nor does it prevent us from hiring more police officers.
Finally, we can certainly have a community discussion about a sales tax increase to fund various community needs. However a tax hike is clearly not needed to fund a South Beltway.
Despite what you’ve been hearing, we really do have a choice.
by Coby Mach, President & CEO
Lincoln Independent Business Association
402-466-3419
LIBA studies and promotes these types of issues that are important to businesses and our community. If you have an interest in joining LIBA, please call me at 466-3419. LIBA membership is not restricted to just businesses. We also have “individual” memberships for those who want to help influence our local government decisions.