Troy council agrees in principle to place $137 million bond — including $75.9M library — on November ballot

Troy City Council held a special meeting June 30 and expressed consensus to place a $137,000,000 capital bond proposal on the November 2025 ballot to finance a new library, road work, parks and recreation projects, and public-safety equipment.

The bond package includes a proposed new 90,000-square-foot library estimated at $75,870,000; roughly $35 million for street projects; about $17 million for parks and recreation (including a proposed lighted pickleball court); and $10 million for public-safety needs such as fire apparatus replacement and upgraded body-worn cameras. City staff said the library figure includes nearly $8 million in “soft” costs for design, bid documents and construction administration.

City Manager Greg Nastasi summarized the capital plan and financing options, and staff offered two ballot approaches: a 0.9-mill option that would allow the library portion to be financed up to 30 years (lower annual cost now but more interest over time) and a 1.1-mill option that would finance the full package over 20 years. Staff presented an illustrative…