Photo courtesy to District 13 Newsletter, information regarding 2024 bond.
On Monday, October 2nd, District 11, 13, and 14 will host a town hall for Dallas citizens to learn about the bond process and where it currently stands, and to provide feedback on needs and project priorities.
What is a Capital Bond Program?
A Capital Bond Program is a comprehensive plan to fund projects for over several years. The City dedicates a portion of its property tax revenues to repay incurred debt for the bond-funded infrastructure improvements.
In May 2024, Dallas residents will consider a $1 Billion Capital Bond Program. If approved by voters, the City issued debt will support key infrastructure projects in five categories. These categories are:
- Streets and Transportation
- Parks and Trails
- Flood Control and Storm Drainage
- Critical Facilities (Public Safety, Libraries, Cultural Facilities, and City Facilities)
- Economic Development, Housing, and Homeless Solutions.
“The 2024 Capital Bond Program presents a huge opportunity to build a better Dallas, and your participation in the planning and development process is critical,” Mayor Eric Johnson said in a letter for the 2024 Capital Bond Program.
A Timeline for the bond
January – May 2023
Staff will brief City Council on the 2024 Capital Bond Program and Technical Criteria.
March 2023
City Council provides Community Bond Task Force (CBTF) and subcommittee members
May – September 2023
Public input, CBTF and committee briefings.
July – October 2023
CBTF and subcommittee members review projects.
September 2023
Town Hall Meetings.
October – November 2023
Budget & Management Services Finalize Themes and Bonding Capacity.
November 2023
CBTF Finalize List of Recommended Projects.
City Manager and CBTF Chair Present Bond Program to City Council.
January 2024
City Council Calls for Bond Election.
May 2024
Election.
All recommended projects in the proposed bond program will begin over five years. However, some projects are projected a start in October, others may begin in the fifth year. Project construction will start within a year of Dallas citizen approval of the bond program. Some projects will take several years to begin due to planning, designing and acquiring where property is needed.
The town hall will be held at Vickery Park Library 8333 Park Lane at 6 p.m. for more information, details and updates.
