After several months of presentations regarding more than 60 projects to include in a possible upcoming bond program, City staff summarized the candidate projects at Monday’s City Council work session and gave an overview of what a 2021 Bond Program might look like, based on the City’s projected debt capacity and the City Council’s priorities. The City anticipates the ability to issue future debt without a tax rate increase, with a serial sale total debt capacity calculated to be $190 million over five years.
The model $190 million Bond Program put together includes 15 of the original proposed projects, with high priority given to street, alley and sidewalk improvements ($110.5 million) and public building renovations ($64 million). Alternate funding possibilities for projects not included were also discussed.
After receiving City Council feedback, staff will give a follow-up briefing later this month and continue to refine the bond scenario, with final confirmation of bond propositions scheduled for the summer.
