Minutes 12/18/1997 - Laserfiche WebLink

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10.7 THURSDAY, DECEMBER 18, 1997 planning and construction of Interstate 73. It is believed that the construction of the southern end of the project should proceed first in order to avoid delays at the Blue Ridge Parkway and, thus, improving our areas access to the south. Senator Reynolds said that the success of these requests would greatly be enhanced by each locality working together as a team, along with the local Chamber of Commerce. Senator Reynolds said that in May 1998, construction is scheduled to resume at the intersection of 58 West and 695 where the four lanes currently end. The route will continue around Stuart as four lanes. Senator Reynolds anticipates problems with the 58 project when the construction nears the mountain. Economic Development Council supports a funding increase for the Regional Competitiveness Act Program and additional incentives to assist urban communities in the redevelopment of property that will enhance local revenues and, thus, increase revenue to the State. Additionally, Council supports legislation that will allow more opportunities for regional cooperation in the development of industrial parks and other revenue/employment generating programs. Taxation City Councfi does not support any initiatives that would infringe upon the local Community's ability to raise the necessary revenue to provide basic services. City Manager Reynolds stated that the City does not want to lose any revenue. Councfimember Teague stated that presently there is more need for revenue than there is revenue, and any loss of revenue would be difficult. Senator Reynolds summarized the Governor-elect's plan in that revenue would be lost on vehicles with values less than $20,000, and each locality will have the option of adjusting the tax rate. Senator Reynolds closed in saying that this concept is only a proposal;