Over the past eleven years, the Community Investment Tax has generated $993.7 million to fund a wide range of improvements that will greatly benefit our community.The funds are and will be used for capital improvement projects throughout Hillsborough County, including the City of Tampa, Plant City and Temple Terrace in the following areas: education, public safety, transportation, water, wastewater, reclaimed water, stormwater, community stadiums, parks, libraries, museums, and government facilities.
The Community Investment Tax is a half-penny sales tax approved by voters in September 1996. 25 percent of the revenue collected from this tax is designated for the construction of new public school facilities. NOTE: The projects and their costs and status in this current report are as of September 30, 2008.
For information and assistance on the Community Investment Tax projects and all other County construction projects, call (813) 272-5275.
This report includes information on the following jurisdictions and their use of the Community Investment Tax:
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Hillsborough County School Board
Community Investment Tax Revenue Bonds totaling $70 million were issued on December 1996, to build one new elementary school, one new high school, and one new career center. Additions and/or major renovations were done at one elementary school, one middle school, and one high school. The proceeds from the CIT are being used to pay the debt service on the bonds.
CIT Cash Reserve funds were used to fund the construction of one new elementary school and partial funding of one high school renovation.
Some $235.5 million in Community Investment Tax Revenue Bonds were issued on February 2002. From these funds the School District constructed one new elementary school, one new middle school, one K-8, and one adult technical center. Additions and/or major renovations were also done at thirteen elementary schools, nine middle schools, and eight high schools. The proceeds from the CIT are being used to pay the debt service on the bonds.
In March 2004, $56.2 million in Certificates of Deposit were issued. Proceeds from the CIT are being used to pay the debt service on the bonds. The School District constructed one new elementary school, one new high school and a new parking facility required by the City of Tampa to serve Rampello Downtown Partnership School.
And, in March 2006, $54.8 million in Community Investment Tax Revenue Bonds were issued. Additions and/or major renovations were done at ten elementary schools and four high schools. The proceeds from the CIT are being used to pay the debt service on the bonds.
View The School Board’s Complete Project Status List
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