City Council Economic Development Planning

02/14/2008

The Fayetteville City Council and Administration are planning for the future of Fayetteville and discussing ways to achieve long-term fiscal sustainability.  Staff has provided the Council with a white paper titled Fayetteville - Past, Present, and Options for the Future  and a study conducted by the University of Arkansas Center for Business and Economic Research  that projects sales and property tax revenues for the next 10 years.  In these documents you will find an outline of the City's current financial circumstances, estimates of future revenue needs, and a discussion of the limited potential of budget cuts and tax increases to address those revenue needs over the long-term.