El Dorado City Commission to further discuss spending more than $330K from excess sales tax
The City of El Dorado has voted in favor of a one percent sales tax since 1990. The money of these taxes is allocated to street rehabilitation, property tax reduction and economic development per City Ordinance G-1281.
After ordinance items are funded, the remaining balance is deemed as "excess sales tax". The current sales tax began on October 1, 2019, and ends on September 30, 2024.
El Dorado collected $2,683,572 in 2020 from the one-cent sales tax. The City has already spent $600,000 on the streets, $1,650,000 on property tax reduction and $100 on economic development.
This leaves El Dorado with $334,814 in excess sales tax.
The 2021 Excess Sales Tax Committee met and discussed ways to use those funds with the following recommendations in a unanimous vote. They took these recommendations to City Commission on June 7th but were not approved.
The recommendations were $50,000 on the McDonald Stadium Project Bank, $19,890 on the Chelsea Bike Path, $55,000 on the Central/East/Lake bleachers, $80,000 on Forest Park improvements, $92,439 on paving the south side of Sunset Cemetery and $37,483 on restroom concession facility at a ballpark that's to be determined.
These recommendations will be further discussed by the 2021 Excess Sales Tax Committee and will be brought back to City Commission at a later date. The date for that session has not been set.
If approved, the planning will begin this year and will be completed in 2022. The City encourages residents to support their neighbors and friends by shopping locally.