Voters will decide Ginther's $1.9 billion bond plan
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Ballots in Columbus are dominated by a quintet of bond issues that could shape the city's future.
Why it matters: The Nov. 4 election will decide five substantial issues totaling $1.9 billion that will fund projects related to development, utilities, city services and infrastructure.
Catch up quick: At Mayor Andrew Ginther's 2025 State of the City address in April, he announced a housing-focused $500 million bond issue as a continuation of $250 million in total bonds approved in 2019 and 2022.
- A month later, the city announced four other bond issues that would complete the package.
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
How it works: Because of Columbus' AAA bond rating, Ginther says bonds issued by the city are "very attractive."
- Debt for bonds is serviced by the city's debt retirement fund, which uses 25% of income tax revenue, a method that means Columbus has avoided levying a property tax for bonds since 1956.
- "By doing public-voted debt, it saves us millions and millions of dollars of interest as opposed to having a councilmatic issue," Ginther tells Axios.
For Ginther, the headline issue of the bond package is the housing funds, which he says are needed to combat a growing crisis.
- He says the city has made "great progress" with its past funding, and he wants that to go further in a regional effort fueled by public-private partnerships (P3).
- "We think this P3 can also invest in more disruption and innovation," he says. "The one thing that's done the same way it was 30 years ago is the way housing comes online. We think there's a great way to do some innovation and disruption in the housing space."
The big picture: Beyond housing, Ginther says the other bond funds will be used for a variety of city projects, from new fire and police stations to bolstering city services.
- All of those things, he says, will help create more jobs that help expand income taxes.
- "We literally live and die by income tax."
The bottom line: An extra $1.9 billion could go a long way toward improving Columbus' future — without hitting residents in the wallet.
- "This is one of those great ways we can create jobs and support basic city services without raising taxes, and invest in infrastructure at the same time," Ginther says. "It's a great program, and it's one of the reasons these issues have been so successful at the ballot."