The Richardson City Council voted Feb. 13, 2023, to call a May 6 bond election to raise $46 million in additional funding to construct a new City Hall to replace the existing building, which was damaged by fire on Aug. 22, 2022. The City Council is asking residents to choose between constructing a new City Hall, estimated at $85 million, and repairing/restoring/renovating the existing City Hall, estimated at $60 million (estimate details available at www.cor.net/CityHallBond).
One of the main factors in calling the election was the estimated cost of repairing/restoring/renovating the 44-year-old existing building would amount to an estimated 70 percent of the cost of constructing a new building. Other factors affecting the City Council’s decision were that a new building would provide for enhanced customer service, improved security, additional public gathering spaces and be at least 15 percent less costly to operate.
If approved, the $46 million in bond proceeds will be combined with $22.4 million from the 2021 Bond Program, which was approved by voters to renovate City Hall, and at least $16.5 million from insurance proceeds, which will cover the cost of all fire-related damages. The $85 million estimate includes the temporary relocation of City Hall services and staff during construction of the new City Hall, cost escalation due to inflation, and infrastructure improvements to the Civic Center Campus.
If approved, the City will sell only enough debt to account for the difference between the actual project cost and the combination of funding available for construction of the new City Hall.
A City Hall Bond Election guide will be mailed to all residential addresses throughout the city this month. A website with more information regarding the City Hall Bond Election is available to view at www.cor.net/CityHallBond. The website also includes links to past City Council presentations and documents that include more information leading up to the calling of the election.
