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    Home » Budgets & Funding » Tempe Considering Bond Request, Budget Planning
    Budgets & Funding

    Tempe Considering Bond Request, Budget Planning

    BEX StaffBy BEX StaffApril 23, 2024No Comments2 Mins Read
    Credit: City of Tempe/Tempe Tribune
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    The City of Tempe is considering asking voters to approve $581.5M in General Obligation bonds through three questions proposed for the Nov. 5 election.

    The bond questions would cover:

    • $301M for community safety and roadway development to improve every street in the city within a four-year timeframe;
    • $248.5M for “quality of life” improvements, including historic property preservation and restoration, and
    • $32M to cover four annually consecutive $8M affordable housing bonds starting in fiscal year 2024-25.

    City Council plans a vote on calling for the bond election at its April 25 meeting.

    In addition to the bond considerations, City staff is attempting to work with a $1.58B planned budget for the 2024-2025 fiscal year that maintains current service levels.

    The planned budget represents a 17% increase over the $1.35B current budget for capital projects and operations. Adoption of the final operations and capital improvement budget is planned for June 6.

    The total five-year Capital Improvement Program budget is $1.95B, which marks a 29% increase over the current $1.51B. Under the five-year CIP budget, seven projects would be accelerated, which counts for most of the planned increases.

    Those projects are:

    • $134.6M to accelerate roadway improvement and preservation;
    • $32.9M for a police substation and training facility;
    • $32M for affordable housing program enhancements;
    • $30M for a public safety and Fire Medical Rescue Station No. 8 in the Arizona State University Novus Corridor;
    • $21.4M for Mill Avenue improvements downtown;
    • $12.3M for historic property projects, and
    • $7.8M for charging infrastructure for electric City and public vehicles. (Source)
    affordable housing bonds bond request Capital Improvement Program capital improvement projects CIP city budget City of Tempe community safety and roadway development Fire Medical Rescue Station No. 8 General Obligation Bond Historic Preservation public policy quality of life improvements Tempe City Council urban planning
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    Phoenix Wants Multifamily Mixed-Use at 19th & Dunlap Light Rail

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    By Roland Murphy for AZBEX The City of Phoenix wants to transform the 19th Avenue…

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