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Addison staff outline $138M CIP and show bond program adds roughly one-third of promised tax increase
Summary
The Addison City Council heard a presentation July 1 on the proposed fiscal 2026 budget and five‑year capital improvement plan totaling about $138.5 million that uses a mix of grants, State Infrastructure Bank loans, certificates of obligation and town cash reserves.
The Addison City Council heard a detailed presentation July 1 on the town’s proposed fiscal 2026 budget and five‑year capital improvement program that totals about $138.5 million across general government, airport, utility and stormwater funds. Steven (Chief Financial Officer) told council the package includes voter‑authorized projects, committed developer reimbursement obligations and one‑time, self‑funded requests.
Why it matters: the presentation tied the 2019 bond program to debt‑service tax impacts voters were shown in 2019 and to the actual tax‑rate effects now projected for 2026 and beyond. Staff said refinancing and low‑cost loans reduced the program’s net tax effect to roughly one‑third of the increase voters were told they would see in 2019.
City financial staff explained how the town mixes funding. Steven said the town uses grant dollars (about $20 million in the CIP), State Infrastructure Bank (SIB)…
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