Latest news with #JoshBuchfink
Yahoo
14-05-2025
- Business
- Yahoo
Fort Smith voters say yes to tax reallocation, $385M in sewer infrastructure bonds
Fort Smith voted to reallocate existing tax revenue during a special election May 13, helping the city advance long-delayed sewer system improvements required under a federal consent decree. More than 64% of voters supported the two ordinances on the ballot, while 66% voted in favor of issuing bonds to help fund the work. 'The City of Fort Smith thanks residents for approving the Sales and Use Tax measures to fund sewer system improvements,' said Josh Buchfink, public relations manager for the city. 'With this funding, we can issue bonds to complete consent decree-related projects efficiently and effectively, ensuring critical infrastructure improvements without increasing the existing sales tax rate.' Unofficial results show: 2,381 of 3,687 voters approved Ordinance No. 19-25, renewing the 0.75% sales tax. 2,361 of 3,677 approved Ordinance No. 20-25, reallocating the 1% sales tax. 2,443 of 3,682 voted in favor of the bond measure. Voters weighed in on three separate proposals: Ordinance 19-25: Reauthorized the 0.75% sales and use tax approved initially in 2022. Ordinance 20-25: Reauthorized and reallocated the 1% sales and use tax currently used for streets and drainage. Bond measure: Authorized the city to issue bonds backed by 0.625% from the renewed 0.75% tax and 0.375% from the reallocated 1% tax, for a combined 1% allocated toward consent decree work. 'I think people looked at both sides of the issue and decided that we're not going to take the actions of the past. 'Kicking the can down the road' no longer works,' said Fort Smith City Director Neal Martin (At-Large), who supported the measures. 'The people chose to address the consent decree and further our city down a path to completing it.' More: Fort Smith faces tough choice: Higher sewer bills or higher sales tax? More: Fort Smith Board approves investments in infrastructure, recreation, historic preservation More: Rego proposes 'CUTS' package to refocus Fort Smith spending on consent decree The city had been making steady progress toward completing federally mandated upgrades to its sewer system. However, the 2019 flood delayed several projects and put Fort Smith behind schedule. Martin was involved in talks last August to request more time from the Department of Justice and the Environmental Protection Agency. The current target completion date is 2027. 'This will help us negotiate, particularly with the timeline extension,' Martin said. 'The EPA/DOJ specifically mentioned that in our discussions.' Because voters initially approved the taxes, the Board of Directors could not reallocate the funds without holding another public vote. 'I'm incredibly grateful to the voters for supporting this important step forward,' said City Director Lee Kemp (Ward 3). 'With the passage of the tax reallocation, we now have a clear financial path to complete the long-overdue improvements to our sewer infrastructure. This vote allows us to finally shift from reacting to a mandate to proactively investing in Fort Smith's future.' 0.75% Sales and Use Tax Reauthorization Originally approved by voters in 2022. 0.125% will continue to fund the Fort Smith Police Department. 0.625% will remain dedicated to federally mandated sewer system improvements. If renewed, the tax would remain in place for an estimated 34 years, the projected term needed to repay the bonds. 1% Sales and Use Tax Reauthorization and Reallocation Previously dedicated entirely to streets, bridges, and drainage. Under the new plan: 0.375% will now be redirected to support consent decree work and authorize bonding. 0.625% will continue to fund infrastructure improvements. Bond Issuance Bonds will be backed by: 0.375% from the reallocated 1% tax. 0.625% from the renewed 0.75% tax. Under the consent decree, 1% of the sales and use tax will be allocated to fund projects. The bonds will support up to $385 million in: Sewer capital improvement projects. Federally mandated work is required under the terms of the consent decree. Bond repayment will be structured over 30 years, but the term could be shortened if sales tax revenues exceed projections. The Sebastian County Election Commission is expected to meet on May 23 to certify the election results. This article originally appeared on Fort Smith Times Record: Fort Smith greenlights sewer bonds, reallocates existing tax funds
Yahoo
07-03-2025
- Business
- Yahoo
Fort Smith no longer offering monetary incentives to remote workers who move to city
FORT SMITH, Ark. (KNWA/KFTA) — The city of Fort Smith will be making a change to its initiative that recruits remote workers to move to the city. In April 2024, the city teamed up with MakeMyMove, a company that specializes in the promotion and advertisement of their clients' regional amenities and quality of life to attract workers to relocate to an area. Talk Business & Politics reported at the time that the program was expected to recruit 175 workers to Fort Smith. Fort Smith acknowledges it misappropriated funds The Fort Smith Board of Directors approved $224,175 for the project. Then-City Administrator Carl Geffken said the amount 'fits the primary Economic Development goal outlined in the Future Fort Smith Comprehensive Plan, which is to 'Broaden employment sectors that will drive the city's economy' by creating a quality working environment that fosters an attractive sense of place.'' The board approved funding the program in July 2024 by setting aside $250,000 to fund incentives encouraging those working remotely to relocate. Those who relocated to Fort Smith received $10,000 and incentives On Tuesday, the board decided to end the monetary incentives. 'They are looking for ways to cut costs so that we can make sure that we can pay for the things that we need to pay for, such as consent decree work or like sewer work across the city. That's of vital importance. Initiatives like the makemymove program are not in vital importance in that regard,' said Josh Buchfink, the city's public relations manager. The MakeMyMove program is still active in other locations, but Fort Smith is no longer funding its incentives. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
