Proposed by a citizens advisory committee in January and approved by City Council in February, the bond will include 10 projects at a total cost of $120 million. Of that total, $30 million will come from leftover bond funds from 2008 and 2015 that were never issued, city officials said.
“The main two points of this [bond] are connectivity and safety, but it is also a comprehensive mobility bond that looks at things from all modes of travel, to connect through and among neighborhoods,” said Jake Gutekunst of Kimley-Horn, the design and consulting firm on the project.
This bond will issue debt for seven years with a maximum tax rate impact of $0.03 per $100 valuation. According to Gutekunst, two cents of the tax increase will pay for these projects. The remaining will go toward voter-approved projects from the 2008 and 2015 bonds.
If approved, the tax increase is expected to go into effect as soon as possible, city officials said. According to the city’s bond website, residents can expect their annual property tax rate to increase by approximately $83.40.
“While I don’t have a vote, I think [City] Council will likely institute the tax increase shortly after the bond passes—if it passes—just so that the voters know the true cost of doing this work,” Mayor Josh Schroeder said.
The bond projects would address the following roads.
- SE Inner Loop: $32.06 million
- Shell Road: $12.5 million
- Williams Drive Central: $10.19 million
- D.B. Wood Road: $18.9 million
- Leander Road: $7.74 million
- Austin Avenue bridges: $10.19 million
- Rockride Lane: $5.78 million
- Sam Houston Avenue: $4 million
- Westinghouse Road: $8.2 million
The bond will also allocate $10.45 million for updates to sidewalks, bike lanes, intersections, transportation and technology.
Early voting will run April 19-27. Election day is May 1.