Page 8 -

2022 PRESIDENT
PLEASE VOTE IN THE UPCOMING BOND ELECTION ON MAY 7TH
You may have read varying opinions or heard on the news about the citizen-led bond initiative that will go before San Antonio voters on May 7th. I wanted to share more information with you on the $1.2 billion bond proposal that has six separate ballot propositions listed below.
• Streets, bridges, and sidewalk improvements (62 projects)
• Drainage and flood control improvements (23 projects)
• Parks, recreation, and open space improvements (82 projects)
• Library and Cultural Facilities (6 projects)
• Public Safety Facilities (9 projects)
• Housing – 5 Priority Funding Categories
The City of San Antonio is leveraging federal and state funds through the American Rescue Plan and the Texas Department of Transportation. Over 75 percent of the bond dollars are dedicated to drainage, streets, parks, public safety, and neighborhood services. You can find more information in the Frequently Asked Questions Guide for the 2022 bond.
This bond initiative is critical to the residential building and construction industry because for the first time it will address the housing crisis that is pricing out essential workers. These essential workers include teachers, frontline healthcare workers, veterans, construction workers, service industry employees and retirees.
San Antonio seeks bond money every five years to pay for projects like streets, drainage and park upgrades that will benefit all the citizens in San Antonio. In 2017, an $850 million bond received overwhelming support from over 70 percent of the voters. If the voters approve the proposed bond package on May 7th, it will include money for affordable housing for the first time.
In my opinion, the five committees made up of citizens appointed by our council members did a good job in prioritizing what the community needs and what our citizens want. Public meetings were held last fall and input was received on the 183 projects included in the bond package. Some of the larger projects will include the greenway trail expansion, a new police substation on the South Side and Hemisfair’s Civic Park.
What is important to know is that the bond will NOT increase the city’s property tax rate. Property tax revenues at the current rate will be enough to repay the bonds. State law prevents any city from collecting more than 3.5 percent in property tax revenue over the previous year without voter approval. San Antonio’s property tax rate is made up of two parts, a portion pays for regular city maintenance and operations and the other part pays off debt.
MIKE SOWRY
The bonds were designed to maintain the City’s excellent bond rating and not raise taxes. Early voting starts on April 25th and runs through May 3rd. Election day is Saturday, May 7th.
The investments made by these bonds will benefit all of us as well as future councils. We all know how crucial public safety is and the ripple effect of passing the bonds will help create thousands of new jobs.
There is a wealth of information available to you on the bond projects. You can find more information on the City’s website or on ExpressNews.com. While this is the largest bond in our city’s history, it is an investment in our future.
Sincerely,
8 APRIL 2022 | GREATER SAN ANTONIO BUILDERS ASSOCIATION