Commissioners voted 4-3 to approve a plan that dedicates $3.13 million in Article 46 tax revenues in fiscal year 2020 for capital expenses at the college. The money would keep coming in each of the next seven years, increasing 5.5 percent annually to account for anticipated increases in construction costs. The county would also cap transfers from Article 46 tax revenue to the general fund at $5 million and would limit the use of that money to operations at A-B Tech.
The A-B Tech Board of Trustees accepted a compromise earlier this month that would enable the college to address a $25 million maintenance backlog using yearly payments from revenue generated by a quarter-cent sales tax approved by voters in 2011. Commissioners will consider the proposal during their meeting on Tuesday, Feb. 19.
The A-B Tech Board of Trustees and Buncombe County are in the early stages of a compromise plan for the use of sales tax revenue for maintenance, capital and operating costs at the college.
