2016 General Obligation (GO) Bond
2016 General Obligation (GO) Bond
In 2016 voters approved a bond referendum to finance capital improvement projects across the city. A total of $74 million was issued for projects categorized by three focus areas:
$17 million for parks
$25 million for housing
$32 million for transportation
These projects help address the city’s unfunded capital needs and supplement funding for projects that are already in the City’s annual budget and capital improvement program (CIP).
Progress
All of the $74 million from the 2016 bond has been spent, encumbered, or committed to specific projects. Project progress is communicated through the Dashboard for CIP and Bond projects. Quarterly updates are also provided to City Council at their regular meetings.
Parks
The $17 million of parks projects support the completion of major improvements to five parks and recreation facilities; acquiring land for parks; and improving outdoor courts, playgrounds and ball field lighting throughout the city. Projects were identified from the Parks and Recreation Master Plan.
Housing
The $25 million for housing affordability provides additional support for the Housing Trust Fund and other programs that assist in creating diverse and affordable housing choices. It also enables the City to repurpose city-owned land for development that supports housing affordability. Projects were identified from the 2015 Housing Needs Assessment and Market Study and the Affordable Housing score card.
Transportation
The $32 million of transportation projects support the completion of road resurfacing and sidewalk improvements; new sidewalk and greenway projects; and pedestrian safety projects such as bus shelters, accessible crossings, signals, and traffic calming.
Transportation projects were identified from the following plans: