Moving from 4A to 4B Corporation in Hands of Big Spring Voters 10/17/12
CBS 7 News Reporter
October 17, 2012
Big Spring - In just three weeks, it will be decided how sales tax revenue will be used in Big Spring. The Big Spring Economic Development Corporation believes now is not the time for a change.
Last night the EDC publicly announced their support of a Type A Corporation.
"We feel like we've created jobs, we've retained jobs and we just want the people to know before they go to the ballot thats where the board stands," Justin Myers, EDC Vice President said.
Right now, under a Type A Corporation, sales tax revenue goes entirely to the EDC to bring jobs into the community. Next month, voters will decide to keep the Type A or move to Type B Corporation that allows funds to be spent more broadly, which Big Spring Mayor Tommy Duncan says gives them more options.
"It is less restrictive and it allows for different types of quality of life improvements within the community as well as the things that the 4A type corporation does," he said.
A change the EDC just doesn't support.
"You're just opening up pandoras box for funds to go elsewhere," Myers said.
Mayor Duncan says under a 4B Corporation, it allows the community to be more involved and informed on what is going on.
"4B is required by law to hold public hearings 60 days prior to allocating funds to projects," he said.
Something the EDC claims is already happening.
"We don't spend a dime without the city council approval. Everything we do has to go before city council," Jim DePaw, EDC President said.
Now, it's up to the voters to decide.
"There will be people that vote for the B and that's ok...we just think keeping it A is in our best interest," Myers said.
"We at the city are certainly glad to take whichever direction they want us to take," Mayor Duncan said.
For any undecided voters, both the Mayor and the EDC encourage you to educate yourself about a 4A and 4B Corporation. You can find that information at: bigspringtx.com.