X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-Voters in the suburb of Scottsdale will go the polls Tuesday to decide on the city’s first bond issue in more than a decade—a $451.7-million package to improve the city’s infrastructure.

Residents can approve some parts of the package and reject others. For example, they might OK the proposed issuance of $125.7 in bonds for libraries and parks, but vote against raising $6.4 million to buy two new police helicopters and build a facility to service them.

Money to repay any bonds that are approved will be generated by an increase in commercial and residential property taxes. If all nine spending provisions on the ballot are approved, the owner of a house assessed at $175,000 would see an increase of about $126 in the annual bill in 2007.

In addition to the libraries and park issue, some of the other big-ticket proposals would raise $126 million for street and transportation improvements; $25.3 million for flood-control projects; $71.3 million to build a city office building and other municipal facilites; $48.7 million for public-safety facilities, and $12.9 million for low-income housing.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.