Buda could look to its taxpayers this fall for support in getting its plans to improve infrastructure, drainage systems, downtown and other facilities off the ground.
The city is contemplating floating a bond this November, and voters could see a proposal as low as $10 million and as high as $40 million, according to a presentation made during a city council workshop March 18.
Tax implications of passing a bond that would fund capital improvement projects were examined, with $30 million identified as a possible amount.
"It seems like with $30 million, as you go up the increases, that seems like the sweet spot for us settling on a good amount at a reasonable rate that has the least impact to consumers," Councilman Bobby Lane said during the roughly 30-minute workshop.
Jennifer Douglas, a financial advisor contracted by the city, presented six options—$10 million, $15 million, $20 million, $25 million, $30 million and $40 million—and the approximate impact they would have on Buda's taxpayers.
A $30 million program could cause a tax rate increase of $0.1038 per $100 of home valuation. For a home of average value, $158,140 in Buda, a taxpayer would pay an additional $164.15 annually, according to the agenda packet from the meeting.
Two bond advisory committees, one charged with recommending general capital improvement projects and another with recommending possible library facility upgrades, have held meetings in recent weeks and are expected to hammer out a proposal for the council's consideration by July.
City Council has until August to call a bond election this November.
In a state of the city address March 19, Mayor Todd Ruge spoke about the potential bond at a Buda Area Chamber of Commerce luncheon.
The city has carved out several master plans the last few years and is in the midst of updating its drainage master plan in light of the Halloween 2013 floods. A public input process to formulate a master plan for downtown Buda is underway and expected to wrap up in June.
"Now that we have all these great plans in place, it's time to implement these plans," Mayor Todd Ruge said, later referencing the city library, for which "four or five plans that stretch back 20 years" have been made.
"We're at a point now where we are going to do something about these plans that we have on the shelf," Ruge said. "They're not going to collect dust. These plans are going to be implemented. Of course, it's going to take time and money, but we aim to put these plans into motion."