Voters in state capital approve $1B in construction debt
COLUMBUS, Ohio (AP) — Voters in Ohio’s capital city have agreed to let the city take on as much as $1 billion more in debt to pay for renovations to roads and bridges, underground utilities and other infrastructure.
Near the top of spending among issues approved Tuesday is a new municipal courthouse, estimated to cost about $130 million.
Voters also approved reserving $50 million for affordable housing as Columbus prepares for a regional plan to address what experts say is a 54,000-unit shortage.
The Columbus Dispatch reports this is the largest bond package approved since 2008, when voters passed a $1.7 billion debt plan, mostly to pay for water and sewer projects.
The projects won’t raise taxes, but the city could raise property taxes if it can’t repay the debt.
Information from: The Columbus Dispatch, http://www.dispatch.com