Today, August 5, 2013, the Lincoln City Council is holding a public hearing on the One and Six year street and highway program. The Lincoln Independent Business Association (LIBA) would like to offer a few observations.
The Capital Improvement Program for fiscal years 2014 through 2019 reflects an average annual expenditure of nearly $27.76 million dollars.[i] This average annual expenditure is comprised of $21.66 million dollars of city revenues. However, after talking with city staff it is our understanding that moneys from the brand new “Build Nebraska Act” are not included in the totals.[ii]
LIBA is recommending that the City Council start actively making plans for where those road dollars should be spent. Perhaps we should start a sinking fund with those dollars to help pay for Lincoln’s portion of the South Beltway.
LIBA talked with the Nebraska Department of roads on July 26, 2013, and they are estimating that the Build Nebraska Act will generate $708,000 during the next year and $944,000 in fiscal year 2015 for the city of Lincoln.[iii]
Those dollars could be set-aside to help prevent a tax increase to fund the South Beltway.