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Consultation has concluded. Thank you for providing feedback. Results will be considered to help inform decisions.
Through voter approval, the city of Mankato has been authorized to extend the existing one-half of one percent (0.5%) local sales tax until 2038 to finance $47 million in construction and improvement of public safety emergency communications, flood control and levee system improvements, regional water quality, expansion of multi-model transit facilities, existing and new recreational facilities, matching grants for publicly owned historic museum, supportive housing, senior citizen center, and improvements to governmental entities outside the city of Mankato.
The real picture While $47 million is a lot of money, when leveraging new and maintaining large community projects, it depletes quickly because bond interest is paid from this money too.
Because significant projects require large financial investment and there are limited funds, careful planning and the right timing is key to moving an appropriate number of projects forward. It helps ensure interest payments don't overly burden the funding source.
A good example Consider a home purchase. Although the house may cost $200,000 to finance, homeowners will pay more than that because of interest. In addition, homeowners typically need funds for maintenance and repairs, such as roof, siding, or window replacement.
Note: Existing debt obligations for the Grand Hall (financed with sales tax) and other eligible financed projects limits significant new project spending by council before 2023, when the existing financial obligations expire.
Here is an opportunity to provide input on Mankato's city service delivery. We're interested in your ideas where money should be spent. Budgeted amounts are examples and should be considered an estimate for actual, future costs. Share feedback using Mankato's budget allocator.
Through voter approval, the city of Mankato has been authorized to extend the existing one-half of one percent (0.5%) local sales tax until 2038 to finance $47 million in construction and improvement of public safety emergency communications, flood control and levee system improvements, regional water quality, expansion of multi-model transit facilities, existing and new recreational facilities, matching grants for publicly owned historic museum, supportive housing, senior citizen center, and improvements to governmental entities outside the city of Mankato.
The real picture While $47 million is a lot of money, when leveraging new and maintaining large community projects, it depletes quickly because bond interest is paid from this money too.
Because significant projects require large financial investment and there are limited funds, careful planning and the right timing is key to moving an appropriate number of projects forward. It helps ensure interest payments don't overly burden the funding source.
A good example Consider a home purchase. Although the house may cost $200,000 to finance, homeowners will pay more than that because of interest. In addition, homeowners typically need funds for maintenance and repairs, such as roof, siding, or window replacement.
Note: Existing debt obligations for the Grand Hall (financed with sales tax) and other eligible financed projects limits significant new project spending by council before 2023, when the existing financial obligations expire.
Here is an opportunity to provide input on Mankato's city service delivery. We're interested in your ideas where money should be spent. Budgeted amounts are examples and should be considered an estimate for actual, future costs. Share feedback using Mankato's budget allocator.
Consultation has concluded. Thank you for providing feedback. Results will be considered to help inform decisions.
Share What's is project priority from list of items that sales tax can be spent on? on FacebookShare What's is project priority from list of items that sales tax can be spent on? on TwitterShare What's is project priority from list of items that sales tax can be spent on? on LinkedinEmail What's is project priority from list of items that sales tax can be spent on? link
Timeline
Public idea sharing on allocation of sales tax revenue
Share your opinion about sales tax use is currently at this stage
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Under review
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Final report
this is an upcoming stage for Share your opinion about sales tax use
Through voter approval, the city of Mankato has been authorized to extend the existing one-half of one percent (0.5%) local sales tax until 2038 to finance $47 million in construction and improvement of public safety emergency communications, flood control and levee system improvements, regional water quality, expansion of multi-model transit facilities, existing and new recreational facilities, matching grants for publicly owned historic museum, supportive housing, senior citizen center, and improvements to governmental entities outside the city of Mankato.
