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Sales tax brings in over $1 million for TRAC

The 1 percent sales tax in Jamestown for the Two Rivers Activity Center had raised $1,044,742 at the end of September, said Amy Walters, facility manager.

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The Two Rivers Activity Center is making progress as crews are trying to get structures closed up soon. The 1 percent sales tax in Jamestown for TRAC had raised $1,044,742 at the end of September. John M. Steiner The Sun

The 1 percent sales tax in Jamestown for the Two Rivers Activity Center had raised $1,044,742 at the end of September, said Amy Walters, facility manager.

TRAC is a

$28 million Jamestown Parks and Recreation facility scheduled to open September 2017 that will have an aquatics center, multi-use courts, turf field, fitness equipment, classrooms and child care center. The entire project amount is bonded, and will be paid off by the sales tax revenue, Walters said.

Jamestown voters approved the 1 percent sales tax to fund the project in June 2015, and the tax went into effect in April.

Jamestown Parks and Recreation Director Doug Hogan said the department didn’t have goals for the tax revenue because there is no way of projecting revenue for the current year.

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The bond payments are based on 1 percent tax revenue amounts from 2015, Hogan said. Walters said the bonds are scheduled to be paid off in 20 years, but she expects it will be sooner because of the historic increase of sales tax revenue each quarter. The bonds could potentially be paid off in 14 or 15 years, Hogan said.

Jamestown’s taxable sales and purchases increased 10 percent in the past year, from $62.8 million in 2015 to $69 million in 2016, according to the Office of State Tax Commissioner’s report.

TRAC has received five payments from the tax revenue since June, Hogan said. Two payments were deposited in June, and then once per month. Hogan said the payment amounts vary, partially because businesses have the option of paying sales tax quarterly or monthly. The largest payment of $280,400 was deposited at the end of September, he said.

Hogan said since this is the first time the department has gone through this bond and tax process, the involvement of the Bank of North Dakota and city officials has been important.

“We’re relying on other people’s experience and information, and they’ve been very helpful,” Hogan said. “I’ve learned a lot in the last year and a half.”

kfairbanks@jamestownsun.com

(701) 952-8453

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