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Council presses administration on funding plan for SPAR resilience projects and potential bond options
Summary
Council members pressed staff about financing for St. Pete Agile Resilience (SPAR) projects, asking whether utility rates alone can fund accelerated work and requesting a public discussion on general obligation bond options to cover major stormwater and water resources needs.
Council members used the CIP briefing to press administration for specifics on financing the proposed St. Pete Agile Resilience (SPAR) program for water and stormwater projects, saying they want public clarity on trade‑offs between utility rate increases, bonding, and other funding sources.
Budget and utilities staff told the committee they had included large SPAR project portfolios in the out years (hundreds of millions for both water and stormwater) but have not yet identified all revenue sources for the two temporary SPAR funds. Staff said FY26 water resources and stormwater projects will be shown in the respective enterprise CIP funds and, where appropriate, supported by the rate study and a target 50/50 cash‑to‑debt…
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