Amount of tax: 1% of taxable sales. This is an extension of a temporary sales tax scheduled to expire in March, 2010. It is a tax increase over what your taxes will fall to on April 1, 2010.
Projected total collections: The official projections are to raise $777 million over 93 months. That's $100 million a year, or $8.35 million a month. The 12-month period with the highest sales tax collections on one penny was previously $92.5 million, and that was several years ago. As we deepen into recession, MAPS3 will not meet its revenue goals out of the starting gate. To maintain otherwise is fraudulent!
Projects (OK Gazette-News9 poll results next to each item. Gazette article here.)
None of the cost estimates for the projects below are in the official legal documents filed for the election. They are “merely guides” for the Mayor and City Council to use. (Source: Council Agenda for Sept. 22, 2009.) The Council's statement of intent is simply a suggestion of how they currently say they will spend the blank check signed by the taxpayers. There is nothing to prevent the Council from spending any of these funds on any other capital improvement items that they choose.
$280 million – New convention center to replace the Cox Center renovated with original MAPS funds (26.8% yes, 57.1% no)
Consultants say this is little more than half the ultimate cost. Another $250 million will be needed to “finish” the convention center. The "build it and they will come" business model of using convention centers for economic development is fallacious. See reason 10 of the Top 10 Reasons to Vote Against Maps3.
$130 million - A new 70 acre city park ($1.86 million an acre) (36.4% yes, 45.2% no) Annual operating costs projected at $3 million!
$130 million – 5 or 6 mile downtown streetcar system ($22 to $26 million a mile) Route “to be determined.” (49.9% yes, 33.5% no)
How much could our bus-based mass transit system be improved for a fraction of this amount in a way that serves the entire city? The original MAPS project purchased 9 trolleys and build shelters for $5 million. Even if the price was double today, we could put 117 additional trolleys into service! For much less, a combination of more buses and trolleys could provide much more service for the entire city. Here's one proposed route.
$60 million – Fairgrounds upgrades
The Fairgrounds is already the main beneficiary of the hotel tax and generates lots of its own revenue. Maybe the Fairgrounds Trust should pay their own way.
$50 million – Senior citizen aquatic centers ($10 to $15 million each)
Gotta give those old folks a reason to tax themselves. Why shouldn't the City compete with the local YMCA's, YWCA's and private health clubs? We did it for Bass Pro Shop.
$40 million – 57 miles of bicycle and walking trails ($700,000 a mile) (53.8% yes, 30.4% no)
Is that really $700,000 a mile?
$35 million – Oklahoma River improvements. It is so easy to spend other people's money!
$25 million – Whitewater kayaking facility on Oklahoma River. Repeat: $25 million dollars! Where can I join the OKC kayaking club?
$10 million – New sidewalks (53.8% yes, 30.4% no) Guess what won't make the cut?
$17 million – Contingency fund
1% of the above amounts will be for “public art.” That's $7.77 million IF they were able to raise as much money as they say.
Source: The City of OKC MAPS3 website.