Bond Oversight Commission Approves Recommendation Including IH35 Corridor Funding

The conversation regarding a possible 2016 mobility bond took a step forward this week with a recommendation from the Bond Oversight Commission toward bond language that includes funding for the Bicycle and Sidewalk Master Plans as well as corridors including IH35.

The Austin Monitor reports on the at times tumultuous Commission Meeting.  The final language of the BOC recommendation states:

Now therefore be it resolved he BOC recommends the City Council pursue a 2016 mobility bond that achieves the following:

  • Funds all ‘very high’ and ‘high’ priority sidewalks in the forthcoming 2016 Sidewalk Master Plan, then subject to additional availability
  • Equally funds the following:
    • Priority projects contained in the bike master plan
    • Strategic components of existing Corridor Plans and IH35.  The the degree that Tax Increment Financing zones could be used to provide funding for such plans, such proceeds would be incremental to proposed bond proceeds.

The total amount of such mobility bonds should not exceed bond capacity achieved incorporating a maximum 2 cent tax rate increase above the rate which would otherwise be in effect.