Austin City Council begins analyzing potential 2012 bond election projects

• $575 million, the recommended package of the Bond Election Advisory Task Force, a 15-member citizen group appointed by City Council members;
• $400 million, a smaller package compiled by the task force;
• $400 million, compiled by the city's Capital Planning Office, a new office created to manage the city's capital needs;
• $385 million, recommended by City Manager Marc Ott;
• $300 million, compiled by the Capital Planning Office;
• and $200 million, also compiled by the Capital Planning Office.

The proposed packages were whittled down from a $1.5 billion list of citywide needs presented to the task force in February.

According to the city's Capital Planning Office, Austin has the capacity to take on up to $725 million of debt; however, a bond issuance of that size would result in an additional $105 per year in property taxes by 2016 for the typical homeowner. A $625 million bond issuance would lead to an additional $83 per year during the same time period, and a $500 million issuance would mean a $60 increase. An issuance of up to $385 million would not change the current tax rate.

Ott, as well as Mayor Lee Leffingwell, said they would not support a package that led to a tax increase for residents.

The city typically asks voters to approve a bond issuance every six years or so to fund citywide improvement projects to infrastructure, facilities and parks, among others. The last comprehensive bond package was approved in 2006.

City Council is scheduled to take the bond packages up again at its Aug. 7 work session, and council will hold a public hearing on the matter Aug. 2. In the meantime, comments can be sent to [email protected] or by calling 539-0060.

Council has until Aug. 16 to decide whether to call the bond election.