The City of Tempe is proposing three separate bond issues for a combined total of more than $500M.
The funds would go toward Capital Improvement Projects, consistent with public wishes gleaned from surveys, as well as the goals of General Plan 2050.
According to the City, “Owners of a median home in Tempe with a full cash property tax value of $410K will pay additional secondary property taxes of about $74. Tempe’s plan of financing is to pay off some existing general obligation bonds before issuing the new bonds and the portion of the existing secondary property taxes that was repaying those existing general obligation bonds will be redirected to repaying the new bonds.”
Each bond will be considered individually.
Question One asks voters to enhance community safety through public safety and roadway improvements and is valued at $301M.
This is the largest bond and will aid in efforts to pave every mile of streets in Tempe over four years to prevent the need for major reconstruction.
Funds would be directed toward:
- Modernizing public-safety infrastructure, such as construction, improvement, repair and renovation of police/fire stations;
- Enhancing safety conditions of drivers and pedestrians through construction/improvement of roads, sidewalks, bridges, alleys and lighting;
- Improving roadway mobility/reduce roadway congestion;
- Expanding/enhancing transportation connectivity for the disabled community;
- Construction/improvement of traffic-control systems and underground utility lines, and
- Improving infrastructure to mitigate impact of floods.
Funds would also be dedicated to the Vision Zero street safety program, as well as two new fire stations, a police substation, and fire-rescue apparatus replacement.
Question Two, which is valued at $248.5M, asks voters to improve quality of life in Tempe neighborhoods.
Funds would be directed toward:
- Improving City parks;
- Constructing/renovating playgrounds and recreational facilities;
- Increasing accessibility and improving compliance with the Americans with Disabilities Act;
- Constructing/renovating municipal infrastructure and facilities;
- Acquiring/improving technological infrastructure, and
- Acquiring/preserving historic properties.
Question Two would also fund restoration efforts of Double Butte Cemetery, Hayden Butte and Loma del Rio.
Question Three, valued at $32M, asks voters to increase the supply of affordable housing.
Funds would be directed toward:
- Redeveloping City-owned housing;
- Repurposing existing buildings to provide more housing; and
- Acquiring land and enhancing properties.
Arizona law caps cities at a percentage of taxable properties. Tempe currently has a bond capacity of approximately $777M. The maximum Tempe may ask for is approximately $581.5M, due to previously approved GO bonds.
Projects are based on the five-year CIP. (Source)