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Preserve fund plan lists trailhead projects and shows large land‑debt balance; staff outlines defeasance timing
Summary
Budget Review Commission staff presented a five‑year preserve fund plan and a list of trailhead projects while city finance staff reviewed the preserve land debt; staff said the debt’s outstanding principal is about $149.4 million and the make‑whole call amount is roughly $164.3 million, with the earliest allowed call in fiscal year 2027–28.
Budget staff and preserve management briefed the Budget Review Commission on proposed capital projects funded from the parks and preserve funds and on the outstanding debt tied to land purchases for the McDowell Sonoran Preserve.
City financial staff said the preserve fund includes two voter‑approved sales taxes and projected 0.15 tax revenue of about $25.2 million for the coming year. City Treasurer Sonya Andrews and staff presented the preserve fund five‑year plan and explained the preserve land debt outstanding: principal around $149.4 million and total remaining interest obligations that make the make‑whole call amount about $164.3 million. Staff said the debt cannot be called until the 2027–28 fiscal year,…
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