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City's long-term capital plan shows large requests and proposed bond options that would raise debt tax rate
Summary
Presenters summarized a multi-year capital improvement plan with extensive requests and outlined potential 2026 bond issues and a DPW building bond; issuing the proposed bonds would raise the city's debt tax rate by several cents, depending on sizing and timing.
Committee members reviewed a condensed version of the city's multi-year capital improvement plan and heard illustrative debt scenarios showing how proposed bond issues would affect tax rates.
Presenters said the packet condenses a longer capital plan and described broad categories (vehicles, an operations center for public works, street and signal work, parks projects). "When we look at point 27, we have $7,777,000,000 dollars in total, capital requests," one presenter said in the slide narration; staff acknowledged the packet condenses the underlying 10-page capital plan and that not all requests will be part of any final mayoral or council budget.
The presentation included examples of potential 2026 general-obligation bonds and a possible DPW building bond. Presenters showed that issuing the illustrative bonds could increase the city's debt tax rate by multiple cents (presenters estimated an illustrative 4.6¢ increase across several bond scenarios), and that the council's appetite would determine exact sizing and timing. Staff emphasized these are planning illustrations and that actual bond decisions would return to council for approval.
