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Lower SPLOST revenues force Oakwood to scale back projects
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Because of revenues falling short of projections, Oakwood has scaled back projects funded by the special purpose local option sales tax. Like most area governments, which are now starting to consider a renewal of the tax, expected revenues from the latest SPLOST program — approved by voters in 2009 — were pummeled by the Great Recession, the worst economic downturn since the Great Depression. Oakwood had projected $3.7 million in total revenues and has so far collected $1.7 million, with the tax set to expire next year.