Austin mulling 2018 bond to address drainage system, parks, affordable housing

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Austin mulling 2018 bond to address drainage system, parks, affordable housing

What We Reported

Austinites in November could vote on whether the city government can borrow hundreds of millions of dollars—a debt which taxpayers would pay off—to fund high-priority projects throughout the city. The city has identified affordable housing, open space, city facilities, and transportation and storm water infrastructure as needs.

The Latest

According to city estimates, the city could seek a bond of $325 million with no increase over the current year’s tax rate; $575 million with a 1 cent tax rate increase, or an annual hike of $30.55 for the median homeowner; and $825 million with a 2 cent tax rate increase, or an additional $61.10 in taxes for the median homeowner. The Bond Advisory Task Force, a volunteer group, has been working throughout the past year to vet and understand city needs as well as community priority.

What’s Next

According to a January memo, City Council is scheduled to receive a bond recommendation from the Bond Advisory Task Force in March. The recommendation will outline the proposed bond amount and the specific projects it should fund.

This story is one update from The January Issue. View the full list of Top 10 stories to follow in 2018 here.
By Christopher Neely
Christopher Neely is Community Impact's Austin City Hall reporter. A New Jersey native, Christopher moved to Austin in 2016 following years of community reporting along the Jersey Shore. His bylines have appeared in the Los Angeles Times, Baltimore Sun, USA Today and several other local outlets along the east coast.