Public Hearing Tonight on Knox Cumulative Capital Development Fund

Knox residents will have an opportunity to weigh in on a proposed tax increase tonight before the city council takes final action.

A public hearing is scheduled at 7 p.m. at city hall to discuss the establishment of a cumulative capital development fund. The proposed tax rate would not exceed half-a-cent per $100 of assessed valuation. It would be levied beginning with taxes for 2017 payable in 2018.

Proceeds from such a fund are separate from the city’s general fund operating budget and can only be used for projects as outlined in state law.

Following the public hearing the council will vote on whether to establish the fund.

Other items on this evening’s agenda include an amendment to the city’s policy regarding the construction of streets, acknowledgement of additional blight elimination grant money and discussion of funding for the new restroom/concession facility at Wythogan Park.

Tonight’s Knox City Council meeting begins at 7 p.m. at city hall.