Grand Prairie Woman's Club March 2021 Newsletter

VOLUME 53 | ISSUE 7

March 2021

THE WOMAN’S CLUB G R A N D P R A I R I E, T E X A S

2021-2022 Slate of Officers It’s that time of year again already!

Here are the Slate of Officers for the 2021-2022 Year.

These ladies will be installed at our next General Meeting, May 7, 2021.

President : Paulette Reid

Corresponding Secretary : Marita Jordan

President- Elect : Judy Ingram

Treasurer : Pat Elkins

1st Vice Chair, Programs : Reni Cook

Newsletter : Sara Dedeluk

2nd Vice Chair, Membership : Brenda Skinner

Historian : Becky Garland

3rd Vice Chair, Projects : Jackie Blackburn

Parliamentarian : Janette Skrasek

4th Vice Chair, Building : Judi Stith

Overall Dept. Chair : Janice Pribble

Recording Secretary : Liz Gomez

Please keep the family of Jackie Blackburn and Doris Buchanan in your thoughts and prayers, they recently lost husbands Jerry and Leroy.

During these times of separation, please let us know if you hear of anyone that is struggling or sick; eventhough we can’t be together much, we’d like to reach out to them and offer our help, thoughts and prayers. Thank you.

PAGE 1

VOLUME 53 | ISSUE 7

March 2021

GPTX.org/BondElection

MAY 1 $75 MILLION ECONOMIC DEVELOPMENT

2021

BOND PROPOSITION A The issuance of $75 million general obligation bonds for promoting economic development within the city and the imposition of a tax sufficient to pay the principal of and interest on the bonds.

Entire ordinance at www.gptx.org/bondelection

The proposition supports economic development and revitalization of commercial, retail, residential and mixed-use development and neighborhoods throughout the city, such as corridor and facade improvements, land acquisition and other development and redevelopment investments in targeted areas within the community.

MIGHT INCLUDE: Historic Downtown Land purchases, mixed use development and infrastructure.

Targeted Growth Land and/or building purchases, a conference hotel, restaurant lease space and entertainment sites.

City Gateways Land purchases or development of entertainment venues and infrastructure/parking for hospitality, retail, mixed use and commercial.

Español Tiếng Việt

Página 3 Trang 3

Blue Circles: Economic Development Potential Areas Círculos azules: Áreas de potencial de desarrollo económico Vòng tròn xanh: Các lĩnh vực tiềm năng phát triển kinh tế

PAGE 2

VOLUME 53 | ISSUE 7 WHAT IS ECONOMIC DEVELOPMENT? The City’s Economic Development Department attracts businesses to Grand Prairie, as well as retains and expands businesses already located here. Grand Prairie does not have dedicated funding for economic development; however, voters have approved a 1 cent sales tax for parks, streets and community policing.

WHAT ARE BONDS? General obligation (GO) bonds are commonly used to finance city projects that cost more than available cash, much like home loans. GO bonds require voter approval. Grand Prairie has a AAA rating from Standard & Poor’s, which is the highest possible bond rating and allows the City to pay lower interest rates on bonds. The last voter approved bond issue was in 2001 for $76 million for public safety, streets, signals and storm drainage.

March 2021 HOW WILL THE CITY REPAY THE BONDS? Bonds would be repaid through a portion of the City’s property tax revenues. Bonds are generally issued based on a 20-year amortization schedule and are only issued to fund approved bond projects.

WILL THIS INCREASE MY PROPERTY TAX RATE? The bond issue is not expected to affect the property tax rate. However, should the economy decline, bond debt would still be due and the City might have to cut services, reduce its existing capital project program or consider a property tax rate increase to cover debt payments. If the bond election fails, bond projects would not happen unless other ways to finance them could be found.

HAS THE CITY RECENTLY INCREASED ITS PROPERTY TAX RATE? No. While increases in valuations result in additional property tax owed, Grand Prairie’s property tax rate has not increased in the past 29 years. The last increase was in 1992. The property tax rate was reduced in 1997 and 2000.

WHY ISSUE BONDS TO PAY FOR CITY PROJECTS RATHER THAN PAY CASH? The property tax rate is composed of two parts: the Operations and Maintenance rate (O&M) and the Debt Service rate. The Debt Service rate is set in order to generate the revenue necessary to make the City’s HOW WILL THE BONDS BE USED? payments for tax-supported debt. Bond debt can be If approved by voters, economic development compared to a home mortgage that is repaid over endeavors may include: time, while O&M expenses are like the daily household » Buying land and building infrastructure for eligible expenditures that are paid for immediately, such projects. as groceries. Like buying a house, major economic development projects have a long useful life, so their » Constructing facilities that might include hotels, cost is typically spread out over many years and paid restaurants or parking structures for hospitality or entertainment projects. for by current and future residents who use them. » Financing projects, preferably with long-term revenue streams to the City. » Awarding grants or loans to development projects.

BOND PROP A

GPTX.org/BondElection

PAGE 3

Woman’s Club of Grand Prairie 1 Park Square North Grand Prairie, Texas 75050 972-264-2320

Barbara Stancill, President Paulette Reid, President Elect Vivian Vance, Programs Brenda Skinner, Membership/ Yearbook Judi Stith, Building Marita Jordan, Corresponding Secretary Liz Gomez, Recording Secretary Pat Elkins, Treasurer Becky Garland, Historian Janette Skrasek, Parliamentarian Janice Pribble, Overall Department Chairman Jackie Blackburn, Advisory Chairman Sara Dedeluk, Newsletter Chairman

No events are planned at this time for Woman’s club *HERE is a SAFE COMMUNITY HAPPENING* if you hear of others, let sara know

* new date * TAP THE Friday, March 5

BRAKES! 11:00 am - 1:00 pm SOUP’S ON FOR LOVE is rescheduled

NEW DATE!

It may be too cold for soup, but you can always warm the hearts of our clients by donating now to Lifeline for Families. Help us keep our families in their homes during this week’s freezing conditions.

lifelineforfamilies.org PAGE 4