Recently the Economic Improvement Corporation (EIC) had an opportunity to review all of the projects it helped fund in the previous five years. The EIC approves and recommends projects to the city council, who then approve them again and provide funding. The money comes from 4B sales tax revenue — in Kerrville it’s a 1/2 cent tax approved in 1995 that generates around $3 million per year.
In the last five years, here’s the breakdown on the types of projects:
- Economic Development – $2,312,924 – 26%
- Quality of Life – $3,740,170 – 42%
- Infrastructure – $2,869,683 – 32%
Here’s full list of projects from 2010 to 2015.