The City of Asheville wants to create municipal service districts. For those who are unfamiliar with Synergeze, allow me:
- district: excuse to tax
- service: get your feelgood juices circulating, dummy.
Yes, the city is short on revenue, so leadership found this great way to take out more debt without putting it to a vote. Chapter 120A, Article 23 of the NCGS allows municipalities to finance projects with debt, provided the projects are in a municipal service district. The city will therefore hold a public hearing to ordain three areas MSD’s. Once the MSD’s are established, the city will be able to take out SOB’s.
The financial model being developed in conjunction with Parker Poe and DEC Associates uses revenue from the three cent property tax increase mentioned above, along with resources already dedicated to the City’s existing debt service budget, to fund all additional debt service that may arise from the future issuance of SOB’s.
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This request is in alignment with Council’s 2013-2014 Strategic Plan for Focus Area 1: Economic Growth and Fiscal Responsibility (seek to ensure a sustainable financial future for Asheville by promoting an environment where citizens and businesses want to live, work and invest).
A public hearing will be held May 27. I won’t whine if you want to make the meeting extra long to object. Promise.
