Tag Archives: Street bonds

Why 151 Million?

20 Apr

On May 15, 2018, Omaha voters will be asked to approve $151 million of Street And Highway Transportation Bonds (which we will refer to as “Street Bonds”). In return for this approval, the City commits to complete some transportation projects.

Mode Shift believes it is incumbent on the City to perform three steps:

  1. Inform the voters what projects it plans to build with the Street Bonds
  2. Account for Street Bond spending and the progress of the planned projects
  3. Disclose how it selects the projects that receive Street Bonds funding

Future Mode Shift blogs will address these points, but let’s start with a simple question.

Why $151 Million of Street Bonds?

Street Bonds have been issued periodically following a vote as a “special issues” ticket. Here is the history:

$ Amount of Omaha Street Bond Issue

The City will ask voters to approve the issue $151 million in Street Bonds (1)

So taxpayers will be asked to approve a City expenditure of $151 million, plus interest, funded by property taxes. This is more than triple the historical average. How does the City arrive at this number? In short:

  • The City plans to double its spending on transportation projects
  • The City forecasts a decrease in federal funds and a heavier reliance on Street Bonds

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