With Santa Clara dealing with a whole lot of tens of millions of {dollars} in unfunded infrastructure wants, voters will determine on Election Day whether or not to fill a few of that hole with a $400 million bond for the primary time in 65 years.
Measure I comes at a time when town is grappling with getting older infrastructure that may price greater than $600 million to restore or exchange, in accordance with metropolis officers.
The final amenities bond could be funded by levying an estimated $19 per $100,000 of assessed property worth every year, beginning in 2025 with an approximate finish date of 2060. The highest 20 largest business property homeowners would pay roughly $154,000 on common per 12 months, whereas owners would pay about $128 yearly.
Mayor Lisa Gillmor, who’s supporting the measure, mentioned the bond is “an essential step in preparing for our future in Santa Clara.”
Metropolis officers initially proposed a $600 million bond, however Gillmor advocated for decreasing that quantity and specifying which tasks it could fund in an effort, she mentioned, to make it extra inexpensive and clear for residents.
When the Metropolis Council voted this summer time to position the measure on the poll, it divvied up the cash into six buckets: $41.1 million for streets and transportation, $142.2 million for hearth stations and emergency response, $43.9 million for police amenities, $115.2 million for parks, libraries, senior facilities and aquatic amenities –together with the renovation or alternative of the George F. Haines Worldwide Swim Heart — $46 million for storm drain enhancements and $9.2 million for historic buildings and beautification.
The measure additionally has a provision that the bond cash can’t be used for enhancements to Levi’s Stadium or inside half-a-mile of the venue.
“I wanted a bond measure that was definitely more affordable and accountable to show our residents and to prove to them that they can trust us to get this work done, that the money will go directly for these particular projects and if the projects are changed, there’s going to be great transparency around that,” Gillmor mentioned.
Any modifications to the spending plan would require a suggestion from metropolis officers, suggestions from an oversight committee and unanimous council approval.
Apart from Gillmor, supporters embody Councilmember Karen Hardy, Police Chief Pat Nikolai, Santa Clara Firefighters Union Native 1171 President Anthony Pascoal, Senior Advisory Commissioner Judy Hubbard and the Santa Clara Aquatics Basis.
No organized opposition marketing campaign has mounted for Measure I, however resident and lawyer John Okay. Haggerty referred to as the initiative an “expensive, irresponsible, tax-borrow-and-spend measure” in his official argument towards it within the Santa Clara County voter information.
“Our city would do better to substantially reduce its current operating expenditures, which have been growing out of control during the past decade, and resume relying on and adequately funding its Capital Expenditures Fund to pay for its infrastructure needs on an ongoing basis as it has successfully done in the past,” Haggerty mentioned.
The native lawyer mentioned town ought to solely use bond measures as a final resort and when rates of interest are low.
Measure I’ll want 66.7% assist to go, nevertheless, if Proposition 5 — an initiative to decrease the edge of native bond measures — passes statewide then Santa Clara will solely want 55% approval.
