In an article last week, “Council hears detail on connection project,” should make the taxpayers of Kingman wonder. First is the comment about ADOT, “they are proposing to place $55 million in the construction budget in fiscal 2024 for the project.” So, in other words, don’t count on any help from the State. Then there is discussions about the financing.” And addition to the TPT, additional sources of funding or bonds yet to be determined.” Does that mean maxing out the City’s bonding capacity?
“Moline noted the one-half percent TPT increase is expected to generate some $3.1 million within the first the first year of collecting.” So conservatively, it will take between 15-20 years to generate $50 million.
So, wouldn’t it be much to the benefit of Kingman taxpayers for the City Council to take KRMC’s offer of $50 million to build the Kingman Crossing interchange and rescind the TPT?
As to the Rattlesnake Wash interchange, let’s let the wealthy land owners who will profit from the exchange pay for it.
Or am I being too logical?