Proposition 2 could require Dallas to conduct a citywide vote each time it wants to offer $1 million or more in subsidies to private developers of hotels, condominiums and retail facilities, every time 500 Dallas voters petition for such a vote..
What if Proposition 2 Passes?
Proposition 2 wouldn't introduce a minor tweak to the way
Losing new business means losing new tax revenues. That would then lead to either higher taxes on property owners, or a reduction in city services...Or both!
The language of Proposition 2 also calls into question how the city will offer TIF funding, issue 380 grants, and use State of Texas-rebated hotel occupancy taxes - all economic development programs that have helped strengthen and stabilize
In addition, if passed, Proposition 2 will lead to voter fatigue and force the city to stage elections it does not need to conduct now - elections that will cost millions upon millions of taxpayer dollars.