The overview
The resolution enacts the following:
- Directs council to create a bond election advisory task force to consider specific projects to be included in a bond package
- Directs Austin City Manager T.C. Broadnax to conduct briefings on the city’s current bond ratings and debt status
- Directs Broadnax to propose a bond package that includes funds for climate-related projects to be placed on the ballot no later than November 2026
- Directs Broadnax to identify other funding sources for climate projects like federal grants or utility fees
The specifics
Discussion surrounding a bond to fund climate-related projects began in February, when council member Ryan Alter authored a resolution to search for additional funding sources toward already implemented climate goals, like the Austin Climate Equity Plan.
Alter, alongside other council members including Vanessa Fuentes, previously expressed a need to place a bond on the November 2024 ballot noting that the effects of climate change “can’t wait.” City financial staff recommended not to go for another bond until at least 2026, as multiple bond projects are still underway.
City staff often tout Austin as a national leader in climate action, with over 15 years of staff working toward initiatives, like the goal established in the 2021 Climate Equity Plan to reach net-zero carbon emissions by 2040. This means local greenhouse gas emissions would be removed from the atmosphere through reductions, storage or carbon offset credits.
Alter told Community Impact in February that his initial resolution aimed to address what types of investments city officials need to make to reach the already-set goals.