The impact of Columbus' new $1 5 billion bond package - Axios ColumbusLog InLog InAxios Columbus is an Axios company.

The impact of Columbus' new $1 5 billion bond package

Illustration: Allie Carl/Axios Mayor Andrew Ginther believes the next 15 years could be among the most consequential in city history. What's happening: Columbus is , in the last decade, with even more expected in the coming years.A $1.5 billion approved at the polls Tuesday ensures the city can continue providing essential services to this influx of residents, Ginther tells Axios. Why it matters: The funds will help maintain everything from parks and playgrounds to sidewalks, streets and sewer systems, while also supporting new facilities, such as .The five-part package also includes a $200 million investment in affordable housing initiatives, the largest in city history. The intrigue: Unlike most tax issues, the bond package is unlikely to ever increase residents' property tax bills.The yes vote gives the city permission to borrow money, which it then pays back using a portion of income taxes paid by people who work within city limits, plus a part of residents' utility bills. The only way property taxes would increase is if those revenue streams can't cover costs. That hasn't happened since the arrangement started in 1956, Ginther says. What they're saying: "This growth we're going to see, it's going to be dynamic," Ginther tells Axios. He's well aware that many mayors would love to have this problem."I don’t view it as a challenge; I view it as an incredible opportunity," he says. "But it does require us to plan for and invest in our future." The package includes: Health, safety and infrastructure, A majority of these funds — $219 million — go toward the new downtown courthouse.Also funds fire vehicle replacements and police and fire facility improvements. Recreation and parks, Improvements for parks, playgrounds, bikeways and recreation centers, including installing air-conditioning in six facilities. Neighborhood development, $130 million toward construction of affordable rental units and homes.Also funds programs and permanent housing for people experiencing homelessness. Public service, $250 millionPedestrian safety and sidewalk improvements, bridge rehabilitation, and street and alley resurfacing. Public utilities, $550 millionImproving and maintaining water, sewer, stormwater, electric and street lighting systems. Get more local stories in your inbox with .Subscribe Support local journalism by becoming a member.

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