Off topic: Ideal size of a new NDSU football stadium?

[kab1one]

We have 3 sales taxes. The 1% infrastructure one expires in 2028. Most of the city flood projects have been completed but curious if they will let that 1% slide. Wonder how much of the infrastructure is flood related? The other 1/2 percent ones expire anywhere form 2029 to a disaster scenario of 2085

Infrastructure Sales Tax
On June 13, 2006, citizens of Fargo voted to amend Article 3 of the Home Rule Charter to authorize collection of a one percent municipal sales, gross receipt and use tax. This commenced January 1, 2009 and will expire on December 31, 2028.

The City of Fargo will use this sales tax for infrastructure capital improvements which may include the following: streets and traffic management; water supply and treatment needs, including construction or expansion of water treatment facilities; water distribution system needs; sewage treatment and collection system needs, including construction or expansion of sewage treatment facilities and flood protection projects.

Flood Control Sales Tax
On June 30, 2009, citizens of Fargo voted to amend Article 3 of the Home Rule Charter to authorize collection of a one-half percent municipal sales, gross receipt and use tax. This commenced January 1, 2010 and was to expire on December 31, 2029. This sales tax is utilized by the City of Fargo for flood risk protection, mitigation and reduction.

In November 2016 the citizens of Fargo voted to extend the sales tax to expire in 12/31/84 or earlier if all debt and obligations related to the flood control projects have been retired.

FLOOD SALES TAX 2
On June 12, 2012 citizens of Fargo authorized the collection of a one-half percent municipal sales, gross receipt and use tax. This tax commenced January 1, 2013 and was to expire on December 31, 2032. The City uses this tax for infrastructure improvements including flood protection, after January 1, 2017 all proceeds are redirected to flood protection, mitigation and reduction.

In November 2016 the citizens of Fargo voted to extend the sales tax to expire in 12/31/84 or earlier if all debt and obligations related to the flood control projects have been retired.

Special Assessment District Vot
https://fmdiversion.gov/759-million-...operty-owners/

From the article above.
Ballots are going out Friday to thousands of property owners affected by the flood diversion, giving them a say in how the project is financed.

The number of votes each will get depends on several factors, including the property’s assessed value, its size and how much benefit it gets from the diversion or if it’s potentially harmed by the project.

But the largest share of votes belongs to local governments, which have nearly two-thirds of all votes.

So it didn't matter what the homeowners voted.

[kab1one]

I wouldn't say the sales tax was "slammed through the voters." It got like 85% yes votes. The tax will run as long as it takes and could in theory go until 2084 as a guarantee to keep the bond rates where they want them. It's kind of tough to project tax revenues when our population keeps going up but historically the tax increase been about 5% per year. The growth slowing was actually internet sales, but they fixed that and the state and city now collect that sales tax on online purchases. I assume growth is why the original Fargodome tax was paid off early.

Things would have to go pretty bad for specials to be used and keep in mind, there are other sources of paying down the debt. For example: The city owns a ton of river front property that they had to buy for flood projects. They not only paid for the land, they are collecting zero tax on it. But now they are selling these properties and the proceeds go to the diversion fund and then they will collect property taxes. Examples include the Mid America Steel site, the Park West spot, and a few others. But another benefit is flood insurance will no longer be required.

I think the city could see massive growth and tax increases since we're now on an even playing field. Pre diversion, it certainly had an impact on people and businesses putting big money into a city that could have ended up looking like Grand Forks who took 2 decades to recover.

As far as a ponzi scheme... that's a different discussion for a different day but I tend to agree most government is a ponzi scheme

Fargo Sales tax collections

Flat for the last number of years.

https://download.fargond.gov/0/sales...sis_-_2019.pdf

The special assessment district will be in enacted at some point in time. Someone will have to pay the extra $2 billion in cost.

[HerdBot]

Special Assessment District Vot
https://fmdiversion.gov/759-million-...operty-owners/

From the article above.
Ballots are going out Friday to thousands of property owners affected by the flood diversion, giving them a say in how the project is financed.

The number of votes each will get depends on several factors, including the property’s assessed value, its size and how much benefit it gets from the diversion or if it’s potentially harmed by the project.

But the largest share of votes belongs to local governments, which have nearly two-thirds of all votes.

So it didn't matter what the homeowners voted.

I was assessed but I doubt I'll ever pay anything. They will just keep the sales tax running longer thats the whole point. They thought 2029 was long enough but due to trends they extended it indefinitely. If 2085 doesn't cover it, that means Fargo would have likely seen a huge population decline, which is pretty unlikely. We are generally immune to national economic crises. The assessment is basically a guarantee like a co signer. It's like saying if we suck so bad over the next 30 years, we have a plan C. In reality our metro population is projected to be (by the year 2045) 330,550 to a best case scenario of 340,760. You don't grow like that and not be able to pay

Was it a shitty way to guarantee it? Yes but nobody will ever pay it

Fargo Sales tax collections

Flat for the last number of years.

https://download.fargond.gov/0/sales...sis_-_2019.pdf

The special assessment district will be in enacted at some point in time. Someone will have to pay the extra $2 billion in cost.

Internet sales.. Christmas of 2018, they started collecting internet sales tax after a big decline which was killing everyone. In 2019, we saw a revenue jump again. At the time it annoyed me but looking at the revenue lost, it's important and effective. It brought in 27 million to the state in sales in its 1st year

https://www.grandforksherald.com/new...oks-27-million

Curious to see 2020 since it was a covid year.

[El_Chapo]

An indoor stadium/event center seems like a lot hoops to jump through and a giant headache to get the city on board for NDSU. Maybe things change 20 years from now, but outdoor 30K stadium on NDSUs dime seems in our best interest. Probably wont be a thing for another 2 decades.

thats the other thing.. this could be a revenue generator strictly for NDSU , sponsorships, advertising, private parties, concerts, Keg Parties.... Kevin's SafeMoon SKYBOX...

can NDSU strongarm some money from city of Fargo by requesting their land back for the dome?? haha. evil laugh

[reformedUNDfan]

Fargo Sales tax collections

Flat for the last number of years.

https://download.fargond.gov/0/sales...sis_-_2019.pdf

The special assessment district will be in enacted at some point in time. Someone will have to pay the extra $2 billion in cost.

it was up 4% in 2019.

[OrygunBison]

Am I?

Two words: yes.