This November, Columbus voters will be asked to decide on another capital improvement bond package to facilitate programs and projects across a variety of city departments. The $1.5 billion package was announced this afternoon by Columbus Mayor Andrew Ginther as the first step in placing the bond measure on November’s ballot.
The allocation of funding from this bond package includes:
- $550 million for Public Utilities
- $300 million for Health, Safety & Infrastructure
- $250 million for Public Service
- $200 million for Recreation & Parks
- $200 million for Neighborhood Development & Housing
Columbus City Auditor Megan Kilgore stated in today’s release that the bond package approach is taken by the city for these types of capital improvement projects as it does not require a tax increase to be levied upon Columbus residents.
“A voted bond package means that the city is asking voters to support the issuance of general obligation bonds to finance our traditional capital improvements,” stated Kilgore. “Voter approved bond packages lower the cost of borrowing, and have saved the city tens of millions of dollars in recent years.”
Most recently, voters approved $1.03 billion bond package in May 2019. That included $50 million for affordable housing, which has been fully allocated since then, and the 2022 program is asking for a significant increase to continue to combat the rising need for housing.
“Affordable housing is one of the biggest challenges facing our region today,” said Ginther. “Access to safe, affordable housing is critical to a thriving, equitable economy, and no resident should pay more than 30% of their monthly income to live in a neighborhood of their choice.”
This year’s general election takes place on November 8, 2022.
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