In 1994, the voters of the City of Lisbon approved home rule authority for the City of Lisbon. In July of 1995 the City Council implemented approval of a 1% sales tax of which 50% would be used for economic and industrial development in the Lisbon community. The percentage was later reduced to 25% when the fund reached a sustainable funding level. The fund accumulated for this purpose is called the Star Fund (Sales Tax Area Revitalization).
The Star Fund is intended to provide financing incentives to business activities that desire to expand or locate in the greater Lisbon trade area. The primary purpose of this fund is to expand the financial base of the community by creating new jobs, saving existing jobs, expanding the local tax base, increasing capital investment, improving the entrepreneurial climate and attracting people to the Lisbon Area. Generally, Star Funds will be used to develop private enterprise.
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