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Council Advances $390 Million Investment for Neighborhoods

Council Advances $390 Million Investment for Neighborhoods

2018 Bond Sale Authorization for Infrastructure, Public Safety, Utilities and Affordable Housing


[COLUMBUS, OH] On Monday, September 17, 2018, Council passed ten ordinances to authorize the sale of $399,795,000 in bonds to fund major investments in City infrastructure, public safety, utilities and housing.  Of the ordinances, six are from past voted bond packages.

Councilmembers and the Administration of Mayor Andrew J. Ginther worked to align budget priorities with community feedback through the 2018 capital budget planning to invest in neighborhood needs across the City.

“Our 2018 capital investments enhance the quality of life for all our residents by upgrading critical infrastructure needs and neighborhood amenities throughout the City,” said Councilmember and Finance Committee Chair Elizabeth Brown. “At the same time, residents save millions in tax dollars thanks to strong fiscal management from city leadership and our city auditor, which has resulted in Columbus’ AAA bond rating.”

The proceeds from the bond sale support the 2018 capital budget which includes $48 million in street resurfacing, lighting and sidewalk projects. This represents the largest resurfacing investment in the history of Columbus. The budget also includes a $5 million investment in housing, reaffirming the City’s commitment to providing safe, affordable homes for all residents.

“We are happy to partner with Columbus City Council on the sale of bonds to help with capital improvements of Columbus neighborhoods,” said Mayor Andrew J. Ginther. “We are grateful to the prudent fiscal management by Finance Director Joe Lombardi, Auditor Megan Kilgore and the collaboration with Council to benefit the people of Columbus.

The 2018 capital budget also features $20 million for a new Linden Community Recreation Center, $7.5 million for fire apparatus such as medics, platform ladders and engines, and $480,000 for the construction of homes on the South Side.

“Construction projects like these will have a visible impact on neighborhoods and create jobs to bolster economic growth,” said Council President Shannon G. Hardin. “This plan is critical to upgrading neighborhoods and we are grateful to our residents who’ve supported past voted bond packages to allow many of these projects to advance.”

The City of Columbus continues to have AAA bond rating from the three major national bond rating agencies, which noted Central Ohio’s strong economy and the City’s healthy rainy day fund and prudent fiscal management.