MAPS 3 tax is anticipated to sunset with a $28.5 million surplus

Friday, December 22, 2017

by Laura Eastes

Oklahoma Gazette

Four months after Oklahoma City voters approved an ambitious $777 million plan to invest in eight quality-of-life projects, proceeds from the MAPS (Metropolitan Area Projects) 3 1-cent sales tax began to flow into city coffers.

More than seven years later, residents and visitors are enjoying a whitewater rafting facility, walking trails and sidewalks, a neighborhood senior center and improvements to the fairgrounds. A year from now, a streetcar will glide through downtown, passing by construction crews completing the 40-acre north section of Scissortail Park, which has been called the crown jewel of the MAPS 3 program.

While there remains a lot of work to be done to complete the entire MAPS 3 program, like the construction of two neighborhood senior centers and a new convention center, tax collections end at the stroke of midnight Dec. 31. Two weeks before the tax sunsets, City of Oklahoma City leaders and officials reported the program had already passed $777 million in collections. The city is projecting a surplus of $28.5 million in MAPS 3 tax, according to David Todd, MAPS program manager.

“It’s a good problem to have,” Todd said. “It goes back to the projections from our budget and financing departments. It has been a real team effort to get where we are. I don’t like to think it was by accident.”

Read the full story at Okgazette.com