City to Hold Special Election to Repurpose Local Sales Tax
Will Fund Convention Center Complex, Regional Parks, and Commercial/Industrial Streets
CORPUS CHRISTI, TX – At today’s regularly scheduled Council meeting, Mayor Paulette Guajardo and City Council approved an ordinance calling for a special election to be held on November 7.
The election will allow the City to reallocate Type A sales tax funding from the existing 1/8 cent for the City’s Multipurpose Arena and 1/8 cent for the Seawall for financing the convention center complex, including the seawall structure, commercial and industrial streets, including arterial and collector streets, improvements to the City’s regional parks, and new destination flight enhancement at the Corpus Christi International Airport.
If the election to repurpose the 1/4 cent (1/8 plus 1/8) sales tax is successful, the repurposing of the 1/8 cent for both the Arena and Seawall would not begin until the final payment on the outstanding debt in 2025 and 2026, respectively. The estimated revenue generated by 1/4 cent of the local sales taxes is budgeted at $17.8M for fiscal year 2024.
The election will repurpose existing sales taxes and will not add any additional sales taxes.
For media inquiries, contact Public Information Manager Robert Gonzales at 361-826-3233 or email@example.com.