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Lafayette staff update council on $74 million capital bond and timeline; estimate: ~$280 annual tax for average home
Summary
City staff and municipal advisers updated council on projects funded by the voter-approved $74 million capital bond package — a rec center expansion, a new civic center and a service center — and outlined an issuance plan, the IRS 85% spending test, and an estimated $280 per-year property-tax increase for the average home beginning in 2027.
City staff and municipal adviser Hilltop Securities presented an update Jan. 6 on the voter-approved capital bond program, outlining project scopes, estimated costs and a preliminary financing schedule.
The package approved by voters includes three primary projects: an approximately 30% expansion and renovation of the Bob Berger Recreation Center (estimated cost about $34 million), construction of a new 33,000-square-foot Civic Center on city-owned land in Old Town (estimated $34 million), and…
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