By james art The City Council is asking voters to approve another $103.4 million in street bonds on the Nov. 5 ballot, on top of the $200 million just passed in 2022, to be phased in over 5 years.
We’re just into the second year of projects expected to add at least $80 a year through 2027 to the average household’s taxes (probably even more as assessments roll in).
At maturity in 2047, the total cost with interest shows it to be close to a whopping $500 million for the 2022 bond. Let’s wrap up what we’ve already approved.
Please study the proposed projects and decide if it makes sense to add even more to our nearly $2 billion debt right now. Please consider the following reasons to vote NO:
With economic uncertainty about future inflation and interest rates, there is no way to accurately predict the actual costs and size of the huge tax increases needed.
We wonder if there are enough crews available to start even more street construction, not to mention the increased traffic congestion, detours and orange cones.
All projects are bundled together so voters can’t choose which ones to support. Also, the rushed process of getting it on the Nov. 5 ballot didn’t allow for public input.
After managing all the areas on the list, none of the projects appear to be an urgent emergency. The one on Avenue P and the two on 146th Street are mostly on the county line in sparse neighborhoods.
The current minimum impact fees should be reviewed and increased to help partially pay for the huge costs of building major arterial roads in new fast growing areas.
The repair and repaving of University from 50th Street to South Loop 289 should be financed in cash with maintenance money instead of 20-year bonds.
Broadway is at odds with those who favor the preservation of the historic brick unhappy with the paving plan. Many others are not in favor of spending $16 million on the center right now.
A very well-funded PAC supporting these proposals raised a whopping $164,000, almost all of it from donors who would benefit immensely from passage. but virtually everyone I’ve talked to, whether they vote Republican or Democrat, agrees that this is a bad time to massively increase the property tax burden this much in over 20 years.
Please consider this information carefully before voting on City Street Bond Proposal A at the end of your ballot. If you agree, share with others who will be voting on Tuesday, November 5th.
(Michael Ward is a longtime Lubbock political activist, fiscal watchdog, and former mayoral candidate.)