Wilmington Downtown Inc. supports NHC tax increase

Wilmington Downtown, Inc., Wilmington’s Downtown Economic Development Organization, recently endorsed a resolution of support for the May 4, 2010 referendum to increase the local retail sales tax by one-fourth cent to fund quality of life expenses.

The current recession, declining sales tax revenue and an increasing demand for mandated services, are putting more pressure on the New Hanover County budget. Although the County has cut the budget by $21 million from the previous year, New Hanover is facing an 11 to 14 million dollar deficit.

The proposed one-fourth cent sales tax increase is estimated to raise 5 million dollars next fiscal year and 7 million each year after that. This money will help sustain the critical quality of life services provided by the County.

Quality of life programs, such as parks, libraries and museums, are an important tool in attracting visitors and future businesses to New Hanover County. John Hinnant, Executive Director for WDI, explains “We cannot underestimate the value of the library and museum to downtown Wilmington. Both serve as valuable traffic generators that benefit downtown businesses and support our tourism industry.”

To view this resolution, click here.

For more information on the sales tax increase, please visit
http://www.nhcgov.com/PressReleases/Documents/TaxReferendumBrochure.pdf.

INFORMATION FROM A NEWS RELEASE SENT TO THE WWAY NEWSCHANNEL 3 NEWSROOM…