Conway voters asked to subsidize new shopping center | Arkansas Blog

Friday, September 5, 2014

Conway voters asked to subsidize new shopping center

Posted By on Fri, Sep 5, 2014 at 9:54 AM

click to enlarge BONDS NEEDED: Developers of this project need a $21 million bond issue to pay for road improvements to serve the proposed project.
  • BONDS NEEDED: Developers of this project need a $21 million bond issue to pay for road improvements to serve the proposed project.

Annals of corporate welfare:

Good overview from Arkansas Business on an election underway in Conway, to be completed Tuesday, that asks voters to refinance one bond issue and then approve another $21 million in bonds mostly to build road improvements demanded by developers of a shopping center and residential project around the old city airport. The payoff of the bonds could take until 2044. The votes allow the bonds to be backed with an eighth-of-a-cent sales tax.

The Central Landing project appears at least somewhat doubtful without the taxpayer investment in road improvements. Taxpayers are promised that the development means jobs, growth and rising prosperity for Conway. Trickle-down, in other words.


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