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Referendum Financing and Ballot Details

Expanding Community. Supporting Family.
Building Fun.

Carroll Recreation Center Renovation Project:
Financing and Ballot Details

Local Option Sales Tax (LOST Referendum)

The City of Carroll has had a local option sales and service tax (LOST) since January 1, 2004.  The City has used these funds to provide $6,927,962 in property tax relief since its inception in 2004.  In addition to dedicating 25% to property tax relief, some City projects funded with LOST include:

  • New Fire Station                               $ 7,512,962
  • Street Rehab/Improvements             $ 5,700,000
  • Corridor of Commerce                      $    647,000
  • Library/City Hall Project                    $    500,000
  • Aquatic Center                                 $    428,459
  • Tennis Courts                                    $    230,000

If the LOST is not renewed, annually starting in 2024, a property owner with an average value home of $130,000 in Carroll can expect their City property taxes to increase approximately $50.00 per year to make up for the property tax relief that LOST is currently saving the taxpayers of the City.  County property taxes could increase due to the loss of LOST funds by the County.

With the extension of LOST past December 31, 2023, the City of Carroll is planning to use up to $7,610,000, plus interest cost, in LOST funds toward improvements at the Carroll Recreation Center. 

The City also plans to continue to annually use 25% of LOST proceeds toward property tax relief and $500,000 annually toward Street Rehab Projects.  Projections show there will be $250,000 available annually for other City projects and needs. 

By voting yes for the LOST referendum, residents are giving approval for the LOST to continue beyond its current sunset of December 31, 2023.

By voting no for the LOST referendum, residents are not giving approval for the LOST to continue beyond its current sunset of December 31, 2023.

In order for the LOST referendum to pass, the question must receive a 50 percent plus one approval.

If the LOST referendum passes, the City has the option to bond up to $7,610,000, plus interest cost, against the LOST revenue for the Recreation Center Improvement Project.

 

Carroll Recreation Center $5,900,000 General Obligation Capital Loan Notes (Bond Referendum)

The question on the ballot will read as follows:

Shall the City of Carroll, Iowa enter into a loan agreement and issue its General Obligation Capital Loan Notes in an amount not to exceed $5,900,000 for the purpose of the construction, reconstruction, improvement, enlargement, extension, and equipping of a recreation center?

By voting yes for the bond referendum, residents are giving the city permission to borrow funds for the project.

By voting no for the bond referendum, residents are not giving the city permission to borrow funds for the project.

This bond referendum will be in an amount not to exceed $5,900,000, excluding interest.

The total construction cost in 2021 is projected to be $13,500,000. Local Option Sales Tax (L.O.S.T) would fund the balance of the project.  The City’s debt service levy in FY 2020 was $1.53008.  The funding plan for the project shows that with the debt from other City projects being paid off, the City’s debt service levy is projected to remain at $1.530000 in FY 2022 when the first debt payment will be due.  Additionally, while the debt service levy will initially remain unchanged it is also projected to go down for the life of the bonds.  Click here for more information on the funding plan.

In order for the bond referendum to pass, the question must receive a 60 percent plus one approval.

 

Voting Information
The election day for this referendum is September 8, 2020.  Watch for future updates on when and where to vote as we approach election day.  If you don't know where your polling place is, you can use the Iowa Secretary of State Polling Place Finder using this link.  Additionally, if you have questions on how or where to vote, please call the Carroll County Auditor's Office at (712) 792-9802 for voting information.

On the September 8, 2020 referendum ballot, the City is asking for citizen approval on two questions.  The specific questions that will be on the ballow are:

  1. To authorize imposition of a local sales and services tax in the City of Carroll, that will continue without repeal of the existing local sales and services tax at the rate of one percent (1%) to be effective from January 1, 2024, until repealed.

 Revenues from the sales and services tax are to be allocated as follows:

                        25% for property tax relief;

 The specific purposes for which the revenues shall otherwise be expended are:

75% for necessary capital improvement projects as defined by the Council and which enhance necessary city facilities, thereby enhancing the quality of life for the citizens, and the economic competitiveness for the City of Carroll, and for any other lawful purpose of the City of Carroll, Iowa, as determined by the City Council.

  1. Shall the City of Carroll, Iowa enter into a loan agreement and issue its General Obligation Capital Loan Notes in an amount not to exceed $5,900,000 for the purpose of the construction, reconstruction, improvement, enlargement, extension, and equipping of a recreation center?

Carroll citizens will have the opportunity to vote on these requests during a special city election on September 8, 2020.

Additional information on the referendum can be found on these pages:

 

Do you have more questions about this project?

Send us an email and we will get back to you!

Referendum

Learn More:

Public Information Open House:

July 16, 2020 - 4:00 PM
July 21, 2020 - 9:00 am
July 23, 2020 - 5:30 pm
July 27, 2020 - 9:00 am
August 4, 2020 - 11:00 am
August 7, 2020 - 9:00 am

The meetings will be held at the Carroll Recreation Center at 716 N Grant Rd in an open house format with no formal presentation and everyone is welcome to come when convenient.

The Parks and Recreation Director, Jack Wardell, is available to meet with your group. Call (712) 792-1000.

Voter Information:

Vote September 8, 2020

Polls are open
7 a.m. - 8 p.m.

Absentee Voting Opens August 10, 2020

News Stories:

Council votes to set Sept. 8 Rec Center modernization referendum

Carroll’s modern Rec Center: Eyeing features, costs

Carroll Rec Center Tours And Coffee With The Mayor Scheduled Ahead Of September Bond Referendum

Carroll Residents Invited To See Initial Plans For Rec Center Renovation

Initial Public Response To Rec Center Improvement Project Appears Positive During Town Hall Wednesday