Published: 8:09 AM, 04/01/2010

Last updated: 8:10 AM, 04/01/2010

By: Scott Nicholson

The Boone Town Council received a list of capital plans Wednesday but also reports of depleted coffers that would leave projects on hold, barring a tax increase.
Boone town manager Greg Young presented a chart of the town's sales-tax revenues, which are mostly lagging behind those of the past two years. "To me, it was a general overall decline. I didn't notice a pattern in particular," he said.
Young said the economy was the main factor in declining revenues, but the weather also had an affect on winter spending. Sales-tax revenues are down about 5 percent this year and Young said the state's budget decisions would also affect town revenues.
Young said the town would likely to have to delay capital projects yet another year, though the town should try to contribute money if possible. Young also presented plans for Howard Street improvements, a project that has been on the books since the 1990s. Young said such a major undertaking would likely require a tax increase.
The new sidewalks, streetlights, and other amenities would have an estimated price tag of up to $5.2 million, which Young said would require a tax increase of about 3 percent to meet debt payments of $380,000 a year.

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