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Voting for economic change with the Quality Growth Fund

Issue #1 and Issue #2
Published: Nov. 2, 2020 at 9:32 PM CST
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NORTH PLATTE, Neb. (KNOP) - The final results for Issue #1 and Issue #2 for the North Platte Quality Growth Fund indicate both issues have passed. Final votes for Issue #1 were 7353 “YES”, and 2268 “NO".

Final votes for Issue #2 were 6717 “YES”, and 2871 “NO”.

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With eleven of fourteen precincts counted, the two issues facing voters concerning the North Platte Quality Growth Fund appear to have passed. At 2:00 a.m., Wednesday, Issue #1 passing with a “YES” vote at 6,253, and a “NO” at 1,926. Issue #2, also passed with 5,750 votes for, and 2,409 votes against the issue.

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Original Story.

On the ballot, two issues have an involvement in the economic development program in North Platte. Issue 1 and Issue 2 involve the usage and method of funding the Quality Growth Fund.

For the Quality Growth to remain, both answers have to be a yes.

The first issue explains the fund and its purpose in the North Platte community. Over the past twenty years, the Quality Growth Fund has impacted 475 local businesses. It provides various opportunities in the community for economic expansion such as the downtown renovation project along with many others.

“We have more projects teed up behind the scenes now a lot of momentum behind them some of them very dependent on if the fund gets renewed or not,” said President of the North Platte Chamber Gary Pearson.

The second issue discusses how Quality Growth is funding. The money comes from an existing tax that has been in place for about twenty years. In North Platte, the Quality Growth Fund only receives funding if the economy reaches fiscal expectations and projections. Issue two allocates a percentage of the funds collected from the tax to go into Quality Growth.

“It doesn’t get any funds in it until we hit that same threshold and then a 2% growth factor which then triggers it to be funded another year,” said Pearson.

In 2019, travelers from five thousand different zip codes helped pay into the fund by stopping in North Platte and spending money.

If both votes are not a yes for Quality Growth, the tax rate will not change.

“This is one that you are really voting for yourself. If you live in a community, you got to have some engagement in it. You want it to be better,” said President of the North Platte Gary Pearson. “This is your little bit of skin in the game that you can help North Platte have a better tomorrow.”

If the fund is approved along with the funding model, the length of this program begins April 1, 2021, and ends March 31, 2031.

If you have any additional questions about the Quality Growth Fund and what all it does for our community, visit voteyesongrowthnp.com.

Copyright 2020 KNOP. All rights reserved.