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~ debt. They were asked to determine an amount that would fupd <br />capital projects with no tax increase, an amount that would bd <br />funded by a slight tax increase and an amount that would be ' <br />funded by a larger tax increase. <br />Demographic information, as well as projected new residentiaJ <br />growth (67,000 by the year 2005), was provided by City staff~and <br />reviewed and analyzed in conjunction with projections made by <br />the North Texas Council of Governments. Information was p~o- <br />vided by Allen Economic Development with relation to projeoted <br />commercial and industrial growth. Priorities were established for <br />projects based on the future population and the question as to', <br />whether the project was considered to be a"Must Have," "Nded <br />to Have," or "Nice to Have." <br />4. Will proposed City bond funds alune be enough to devOlop <br />and maintain our streets? <br />No. The dollar amount designated for the streets proposition rep- <br />resents only the portion that the City of Allen will contribute tp <br />the program. Other funding will come from the developers aiqd <br />through requested matching funds from county, state and fedeial <br />agencies. <br />5. Will this 6ond program increase taxes? I <br />The City Council has reduced the tax rate by 18 cents over th@ <br />past six years. Anticipated growth is expected to finance most of <br />this program; however, a tax rate increase of less than 4 cents Imay <br />be assessed incrementally over the five-year period. The table be- <br />low lists the additional amount of taxes on your property. <br />Property Value <br />$100,000 <br />$150,000 <br />Monthlv Increase <br />$3.19 <br />$4.79 <br />Yeady Increase <br />$38.30 <br />$57.45 <br />Conllnued on next page. '10 <br />