Payments will only be made when the public improvements are complete and the private property taxable increment is in place. Colleyville Economic Development Corporation approved by voters in August 1996 has been an important resource in our capital improvement program. Although most of this is pledged to debt service, it will provide funding for a number of future projects. This funding source will not, however, support all our park improvement needs. Even when combined with park land dedication fees, the funds required for a long list of park projects do not meet the needs.
Some difficult times are ahead in funding priorities for parks.
The Crime Control and Prevention District is the latest addition to our special funds. This fund is supported by a half-cent sales tax approved by the voters in January of 1999. These monies can only be spent on a narrow group of law enforcement activities. Most of the revenue has been pledged to retire the debt for the Justice Center that will begin construction in the fall of 2000. In future years we hope to fund other police related activities that would have drawn on General Fund revenue sources.