According to City Manager Kim Turner, the bond would be focused on addressing road repair, reconstruction and infrastructure.
This bond will be the largest the city has put on a ballot, with the last street-focused bond worth $19.5 million approved in 2010, which was used over the course of 12 years. City staff reported 28 streets were rehabilitated with 2010 funds.
The $30 million bond going to voters in November is expected to last a similar amount of time, and city staff has outlined 93 streets eligible for repairs under the bond.
Streets that are eligible for funding through the bond fall under a quality rating of fair, poor or very poor.
While the city has identified eligible streets, the list and number of roads that are to be worked on is subject to change.
During bond discussion, residents raised concerns about the amount of money being requested.
“A street project that was once $1 million could be $1.5 million now, and the costs will continue to escalate even more in the future,” Mayor John Williams said. “If the voters approve the street bond proposition now, it will give council more latitude to get the best interest rate possible and thus be able to work on more street projects.”
By 2036, the increase to the debt service tax rate may be $0.0118, and the projected increase in taxes to a homeowner with a home value of $294,933 would be $34.80 annually, according to city staff and documents.
