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2017 Bond Passes- City to Invest $850 Million

May 6 was a victorious day at the polls for supporters of a variety of bond issues floated by the city of San Antonio and a handful of school districts around Bexar and Comal counties. The six propositions of the $850 million bond offered by San Antonio easily were approved by voters. The city plans to use savings accumulated from previous bond issues to finance this newly approved round of bond projects. Seventy percent of bond dollars would be dedicated to road and drainage improvements citywide. There are plans to build more than 200 miles of new sidewalks, and 25 percent of the city’s parks will see upgrades.

A few significant projects will include a makeover of the lower Broadway corridor, a revamp of the Hemisfair street grid, and a land bridge linking the two parts of Hardberger Park. The overall bond also includes a way for the city to allocate funds toward fostering the development of affordable housing in select, distressed neighborhoods around the city. This marks the city’s largest general obligation bond to date.

“Our residents have voted to make a historic investment in San Antonio’s infrastructure,” City Manager Sheryl Sculley said in a news release. “This investment will dramatically change the way we experience our city, as every San Antonian lives or works within one mile of a bond project. This is also confirmation that voters continue to have confidence in the City’s ability to deliver projects on time and on budget, without increasing the property tax rate.

 

 

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