DEPARTMENT: City Attorney’s Office
DEPARTMENT HEAD: Andy Segovia, City Attorney
COUNCIL DISTRICTS IMPACTED: Citywide
SUBJECT:
Proposed amendment to the City Charter allowing the City to issue bonds for permanent public improvements or any other public purpose.
SUMMARY:
A briefing to City Council on proposed Charter amendment language that would allow the City to issue bonds for permanent public improvements or any other public purpose, so the City may include an affordable housing component, economic development projects, and other capital projects to the next bond proposal.
BACKGROUND INFORMATION:
The City of San Antonio Charter’s current bond language allows only for the construction of public works projects. The Charter Review Commission (CRC) identified the need to include bond propositions that promoted the growth of our region’s affordable housing stock. Most recently, the CRC reviewed draft ballot language developed by outside bond counsel that would be presented to the voters for approval to allow the City to issue bonds for public purposes that include the provision of affordable housing and economic development.
This proposed language would align San Antonio with other Texas municipalities. Dallas’s 2017 bond program included an initiative to revitalize mixed income housing units. Austin voters approved an affordable housing bond proposition in 2018 that will aid in the construction and revitalization of nearly 3,500 rented and owned units.
Issue:
Because the City Charter’s current language only permits construction for public works, it is necessary to amend the language by bringing the proposed language to the voters so that voters can consider a broader array of bond projects.
This briefing will provide an overview of the proposed amendment to the City Charter that, if approved, would allow the City to issue bonds for permanent public improvements or any other public purpose, including affordable housing.
ALTERNATIVES:
This item is for briefing purposes only.
FISCAL IMPACT:
This item is for briefing purposes only.
RECOMMENDATION:
This item is for briefing purposes only.