Austin Quality of Life Bonds Up for Voting in November

I wrote yesterday about the upcoming bond election. I'm putting this on a real estate blog because these bonds will affect our city. The Mayor said in yesterday's CRS meeting that Austin municipal bonds have been selling at AAA rating even though they are just under AAA. Either way, he said we have a very high rating for a city, which is unusual.

I wanted to outline the bond package because I learned a lot at yesterday's meeting, so wanted to provide extra details on what Mayor Wynn said. Here are the 7 bonds. More details can be found on the Mayor's bond website.

1. Transportation. Includes $103.1 million of investments in Austin’s multi-modal transportation network. I didn't ask the mayor, but wanted to know what the toll roads were supposed to pay for and why we're paying additional money for roads.
2. Water Quality. $95 million for drainage improvements and watershed   protection and $50 million for open space to protect water quality in Barton   Springs and the Edwards Aquifer.  
3. Parks and Facilities. $20 million for acquiring new parkland, $10.2 million   for new recreation facilities, and $54.5 million for renovations and improvements   of existing facilities.
4. Creative Economy.31.5 million in investments in both new and existing   artistic and cultural centers. This would go to phase II of the Mexican Cultural Center, a new Asian Cultural Center, and upgraded facilities for the Austin Film Society, which have helped bring millions to the city.
5. Affordable Housing. $55 million investment package to help address   critical unmet needs for affordable housing in the community. This will provide $33M for incentives to rental housing builders and $22M for home ownership programs.
6. Libraries. $90 million investment in the Austin Public Library to   build a new central library facility and improve efficiency and performance   of the entire library system. The central library is outdated and we have to replace a book everytime we buy a new one.
7. Health and Safety. $58.1 million in investments to upgrade and improve   Austin’s public safety and health services. This includes $12M for the animal shelter, which is in a 40-year flood plain.

I plan to vote for all 7 bonds because, as the Mayor said, the city actually needed more money in these areas, but we want to at least have these funds set aside for our astronomical growth during the next 8-10 years. I may not necessarily visit the library or understand the road package, but I'm sure the citizens who were involved in these meetings did.

Visit 7steps4austin.com for more info to make the decision for yourself.