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City staff outlines $360 million bond package; staff says no tax‑rate increase projected
Summary
City staff briefed the TIF No. 3 Board on a proposed $360 million bond package with four propositions covering streets, economic development, parks and a Granville Arts Center renovation. Staff said the package is designed to avoid a tax‑rate increase and that council is expected to call the election on Feb. 4.
City staff gave the Tax Increment Finance No. 3 Board an overview of a proposed $360 million bond package that the city plans to present to voters, with council expected to call the election on Feb. 4. Staff described four propositions: streets, economic development, parks and a renovation of the Granville Arts Center.
Matt Madden, the staff presenter, said the streets proposition is the largest element at $230 million, including about $210 million targeted to improve pavement condition on residential streets and alleys and roughly $20 million for gateway and corridor…
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