City councilors want to know what’s happening with a sales-tax supported economic development fund set up nearly 20 years ago.
The fund collected money from 1985–1991. There’s nearly $308,000 left in it, but less than $10,000 is currently available. Capital Planning Manager Gary Hamer told city councilors $248,000 are committed to the B.C. Franklin and Springdale community centers, which no longer exist.
"In the capital funds, once those appropriations are made, they remain where they are until they're either spent or the council and the mayor take action to move those dollars through the council's legislative process to move those to someplace else. Or cancel them," Hamer said.
If the appropriations are canceled, the money will stay in the sales tax fund for the mayor and the council to appropriate in the future. Hamer said moving the funds involves some work.
"Either an Improve Our Tulsa or a Fix Our Streets or an old capital program where there's still projects under construction," Hamer said. "Then we'd need a new CIP request, a new scope needs to be developed and then that needs to be added to the CIP, and then these funds need to be transferred then."
CIP stands for capital improvements program. Under the fund’s expenditure policy, the money must be spent in certain low-income areas.
