CONWAY — Town staff Tuesday told selectmen the fallout from the COVID-19 pandemic would blow a huge hole in the town revenue. Staff suggests the financial crater could be filled somewhat by the sale of the old rec center.
During the “revenue update” portion of the selectmen’s meeting, finance director Kathy Golding and town manager Tom Holmes said that they estimated that the town will be losing about $443,000 in revenues based on the economic impact of the pandemic.
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(4) comments
Now the Town of Conway is at $1 million dollar shortfall and counting and Town Manager wants to vote down several articles to try and save money. Do you really
think July tax bills are going to be paid? You need to open your town to your revenue stream and do it ASAP which is tourism. Closing Trail Heads is going the wrong way!!! Stop sending out negative news articles and start telling people about your great soft opening that's coming very soon.
I don't think we should have to pay July's property tax bills. There should be a concession for this considering many businesses in town have been forced closed by our Governor, who as of today, has no decisive plan to get us out of this mess. Whatever your place in this town may be (resident, business owner, retiree) the fact remains that tourists are the primary source of revenue for Conway. If we do not get the businesses (namely hotels, restaurants, and retail) up and running in this town very soon, the economic fallout will be devastating and long-lasting. The residents here will all bear the burden for years to come. Our property tax rates will increase. Our automobile registration fees will increase. Our "city services" including police, fire rescue, and town employees will be laid off. Our security, both economic and personal will be compromised. There will be massive amounts of unemployment for many years to come. This is the hard truth. These businesses have only been closed for a little over 5 weeks, and Conway is already in a dire financial position eyeing selling off its assets out of desperation. Can you imagine where we will be in a couple months if we don't allow them to re-open?
Sounds to me like Mr. DegliAngeli solved the problem for now. Next fiscal year budget will see a substantial increase in repaving (and the tax rates) but delaying the repaving addresses the immediacy.
Think about what closing the campgrounds and telling your #2 largest income to stay away from the valley is going to do to these numbers. Find away to save this income and maybe it won't be so bad on the town and tax payers.
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