November bond package balloons to $1.9 billion
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Columbus will ask voters to approve a massive $1.9 billion bond package this November.
Why it matters: A bundle of five bond issues is meant to fund a variety of capital improvements across Columbus without raising taxes.
The latest: Mayor Andrew Ginther announced the bonds Thursday at the work site for the city's new Fire Station 36 near New Albany.
Follow the money: The $1.9 billion package includes:
- $250 million for safety, health and infrastructure
- $250 million for recreation and parks
- $400 million for public service
- $500 million for public utilities
- $500 million for neighborhood development and affordable housing
Flashback: Ginther had already announced plans for a $500 million housing bond designed to address the city's dire need.
- That particular bond issue, he said, would follow the success of $250 million in bonds previously approved in 2019 and 2022.
- The other $1.4 billion is new.
How it works: Unlike some levies, issuing bonds does not require tax increases. Instead, those bonds are paid back over time.
- If approved by voters, these bonds will be issued for five to 20 years and be paid using 25% of the city's income tax collection and a portion of utility bills.
Context: This bond package request is larger than an entire year of city operating costs.
- Columbus passed a $1.2 billion budget in February.
What they're saying: Council president Shannon Hardin said in a statement the package is needed for a "a growing city with growing needs."
- "This bond package ensures we're not just keeping up — we're planning ahead, investing in the infrastructure and services that will support our residents today and for generations to come."