Frequently Asked Questions

Will voting FOR this bond issue raise my taxes?

NO. The sales tax rate in Conway will not go up if the bond issue passes. It won’t go down if this bond issue fails.

When will these bonds expire?

The current bond issue is scheduled to expire in 2022. Voting to “rededicate” the bonds extends their stated maturity

to 2045. However, that is based on ZERO percent growth in sales tax revenue. The Central Landing and Lewis

Crossing developments are estimated to bring in more than $100 million in new taxable sales. That would represent a

7-10 percent increase over time. To illustrate the impact of likely increased tax collections, here are the estimates for

rededicated bond payoff:

Growth in sales tax revenue Estimated bond payoff

1% 2040

2% 2037

3% 2035

4% 2033

What exactly will be built with the bond proceeds? The bond proceeds will fund three projects:

- Connecting the new southern interchange (at mile marker 132) to local streets

- A new overpass extending what is now Sixth Street over the interstate and landing at Conway Commons. Bruce Street will also be improved and extended to connect with Sixth Street.

- A completely new boulevard connecting the Central Landing development with Oak Street

Passing the bond proposal will also free up street funds to replace two stoplights on Dave Ward Drive (east of

Interstate 40) and replace them with roundabouts. This will improve traffic flow and accommodate the Lewis

Crossing development.

Are we giving $18+ million to private developers in exchange for $6+ million to buy the airport? That sounds like a

bad deal!

No money is going to any private developers. The bond proceeds will pay for the three projects listed above. Two of

those projects (the southern interchange connection and additional interstate overpass) have been identified as

long-term street priorities for at least five years. The boulevard from Central Landing to Oak Street is the best

alternative to handle additional traffic drawn to the development.

CONTINUED

The current airport was sold to the high-bidder in a lengthy bid process that listed increased access to Oak Street and

an overpass as conditions of sale. Any street improvements within the development will be at the cost of the

developer.

In short, $18+ million is what these three street projects cost (and what 1/8 of a cent will bond) and $6+ million is

what the high-bidder offered for the property. The two numbers are not connected any more than that. One project

(the boulevard between Oak and Central Landing) is primarily dedicated to the development.

What stores are coming?

For Central Landing, Dillard’s is currently the only store to officially announce. For Lewis Crossing, Sam’s Club,

Academy Sports, Ross Dress for Less, Ulta, Forever 21, Bed Bath & Beyond, and Petco have all announced. Together

the two developments could total ONE MILLION sq. ft. in retail, restaurant, office and hotel space. The developments

could attract more than 75 new stores and restaurants to Conway.

How do Conway residents benefit from this project?

Conway residents will benefit from this development a few ways:

- Traffic reduced on Oak Street AND a new route to access Conway Commons from the west

- Traffic reduced on Dave Ward Drive as two stoplights are replaced with roundabouts

- Increased revenue for city services (police, fire, parks, streets, etc.), much of which will be paid for by

regional non-residents shopping at new stores and eating at new restaurants

- New shopping and dining amenities

- Jobs – 850 when the developments are fully built out and 350 during construction

- New, high-value property on the tax rolls

- The vacant airport site will INCREASE property values between Harkrider, I-40, Oak Street and the

Industrial Park

How can I help make this happen for Conway?

- VOTE. Beyond that, encourage members of your household, your friends and your neighbors to vote FOR

the bond rededication on September 9.

- Visit www.Facebook.com/ConwayRoadsRevenueRetail regularly for updates.

- Share accurate information (like this FAQ) with voters you know who may have questions.

- Let us know that you want to help. You can reach us via Facebook or call the Chamber at 501-932-5401.