Tega Cay has not raised any taxes for more than a decade. As your future mayor I commit that in the next four years NO new taxes. Below are some of my thoughts and proposed initiatives how to deliver on that promise.
🔧 1. Expand and Diversify Revenue Streams
While Tega Cay has no city sales tax, relying mainly on property taxes and enterprise funds (like utilities and golf), it should consider:
- Public-Private Partnerships (PPPs)
- Partner with private developers and businesses to co-fund new infrastructure (e.g., roads, parks, broadband).
- Leverage city-owned land or amenities (like the golf course) for revenue-sharing agreements.
- Hospitality and Tourism Revenue
- Promote lakefront events, golf tourism, and festivals to boost hospitality tax collections.
- Introduce small tourist fees (via accommodations or attractions) to fund park and infrastructure maintenance.
2. Create a Long-Term Capital Reserve Fund
As major infrastructure projects loom (e.g., wastewater treatment, roads), establish a restricted capital reserve fund:
- Use budget surpluses and targeted savings to gradually build the fund.
- Reduces future borrowing and stabilizes capital outlays.
3. Adjust Fees & Service Pricing Based on Growth
Tega Cay’s growth brings demand for services. Use tiered pricing or modest fee increases where applicable:
- Adjust impact fees for new developments to reflect true cost of roads, utilities, and safety services.
- Review golf course and recreation fees annually to align with maintenance and inflation.
4. Leverage Grants and State/Federal Aid
Tega Cay should:
- Apply more actively for state/federal infrastructure grants (especially for stormwater, utilities, or broadband).
- Consider hiring or contracting a grant writer or forming a regional grant consortium with neighboring towns.
5. Debt Optimization Strategy
While the city has a strong credit rating (Aa3), ensure:
- Debt is aligned with long-life capital projects (i.e., avoid funding short-term operations with long-term debt).
- Refinancing is pursued when interest rates shift in favor.
6. Enhanced Financial Communication with Residents
Promote better understanding and support for financial decisions by:
- Hosting annual “State of the Finances” town halls.
- Creating visual, citizen-friendly versions of the budget and 5-year capital plan.
- Engaging residents in participatory budgeting for select projects (e.g., park upgrades).
7. Smart Growth Planning to Control Future Expenses
Rapid growth often leads to infrastructure strain. Tega Cay can:
- Prioritize infill development to maximize return on existing infrastructure.
- Require cost-benefit impact analysis before approving new subdivisions.
- Maintain strict zoning and permit controls to prevent sprawl that burdens services.
In Summary:
To protect our strong financial standing while preparing for future demands, Tega Cay should focus on:
- Smart revenue growth
- Disciplined capital planning
- Strategic public-private investment
- Clear communication and community involvement
These steps will allow our city to maintain its charm, meet infrastructure needs, and remain fiscally sustainable without placing undue burden on residents.
