What if not enough sales taxes are collected or the construction costs are higher than projected?
Construction costs have been developed at the master plan level using extremely conservative numbers along with conservative sales tax projections. As a result, it is highly unlikely that a shortfall would result. However, if resources are below projected needs, consideration will be given to possible areas of deduction such as decreasing the size of the hard-scaped portion of the river. It is imperative that the project be undertaken now to take advantage of lower construction costs when contractors are on the sidelines ready to get to work, as well as, to take advantage of the low borrowing rates currently available.
Related Questions
- Does not include: acquisition costs; enlargement costs; acquisition interest and taxes; realtors fees; paving and landscaping costs; sales and marketing costs; or new building construction costs. When can a taxpayer claim the tax credit?
- How can the city ensure that the projected costs are accurate, and that the actual construction costs won be higher?
- Why do sales taxes include shipping costs with PlugN Pay?
