Questions & Answers About Prop. 440
What is the official ballot language?
Proposition No. 440: weocnowencower ncfo erwnfco erwncfoierw nfoe riwnfo renforew nfoe rwnfoenfo erwnfoernfoernf oerwn forenfonfoner fmcpwemcpi wmecewmc. cnweo ljcneoncoe ocneo sswmdp.
Why purchase these 4005 acres now?
With the TSMC microchip plants under construction in north Phoenix and Peoria, a huge corresponding housing and commercial development boom is underway east and west of the I-17 corridor. The opportunity for the development community to buy these parcels at auction is a real possibility. We need to be proactive and acquire these 4,005 acres – NOW.
Why purchase this land using a 0.25% sales tax?
A major percentage of revenues from sales tax comes from visitors, tourists, and residents of surrounding communities. This one cent for every $4 will generate $1.1 million annually. The Town can buy the entire 4,005 acres with this revenue. It will completely cover annual payments on long-term financial obligations. It automatically sunsets. It’s gone. It’s done. In addition, a benefit of Prop 440, the Town funds that would have been required for these annual payments now become available for environmental study expenses, capital investment in trails and recreation facilities, and long-term maintenance.
How does this land acquisition compare to the purchase of 2154 acres of Spur Cross Ranch in 2001?
On January 9, 2001, then-Arizona Governor Jane Hull, Maricopa County Supervisor Jan Brewer and Mayor Vincent Francia of the Town of Cave Creek signed documents that ensured the conservation of the 2,154-acre Spur Cross Ranch, designating the land as a limited-use public recreation and conservation area. The price of this land was just over $21 million. Cave Creek voters approved a property tax and Cave Creek council approved an additional half cent sales tax to pay for the Town’s share of the purchase. The current assessed valuation of the 4005 acres is $13.3 million. Cave Creek has the opportunity to acquire almost double the acreage at almost half the price. A property tax is not needed to fund this purchase. Instead of a 0.50% sales tax, half that, a 0.25% sales tax, is all that is required for this acquisition.
Will this 0.25% sales tax increase deter people from visiting/eating/shopping in Cave Creek?
If you have lunch at your favorite restaurant once a week because you love the food, atmosphere, staff, etc. You spend $20 every time you go. The restaurant decides to raise prices by the proposed amount and the $20 you spend becomes $20.05. Five cents more. An extra nickel on the bill is not enough to keep you or customers from enjoying their experience. As a small addition to purchases, this 0.25% increase will not be a factor in the success of Cave Creek’s economy.
How does Cave Creek purchase these 4005 acres from the Arizona State Land Department?
The Cave Creek Town Council recently authorized the filing of an application to acquire 4,005 acres of open space. The State Land Department process takes 12-18 months to complete. The Town is required to fund an appraisal, legal advertising, environmental assessments, and site surveys. The sale of the land will be conducted via a public auction. The Town already has an agreement in place with the ASLD to purchase this land at the appraisal price.
