Fort Worth City Council appears on track to double funding for affordable housing outlined in the city\u2019s 2026 bond program, but members couldn\u2019t agree on how \u2014 or whether \u2014 to invest in public art.\u00a0<\/p>\n
A new proposal would allocate $10 million toward the proposition dedicated to affordable housing projects, up from the previously proposed $5 million, according to a Jan. 27 staff presentation to council members.\u00a0<\/p>\n
The additional $5 million came from a roughly $65 million general purpose bond refund the city received in December, bringing the bond program\u2019s previous capacity from $840 million to $845 million.\u00a0<\/p>\n
Although the majority of council members supported the increased dollars for housing, Tuesday\u2019s meeting saw a last- minute debate over the bond dollars proposed for public art projects.\u00a0<\/p>\n
\u201cWe\u2019ve been talking about this bond now for over a year,\u201d Mayor Mattie Parker said during the meeting. \u201cAs much as I think this is a healthy discussion, it does feel very last minute, and it feels like we did not offer some of this to the public.\u201d<\/p>\n
The public-facing process of developing the bond program kicked off in March when staff presented an initial list of projects<\/a> to council members. Throughout the fall, staff hosted 11 public meetings across the city to gather feedback from residents on which projects and infrastructure needs to prioritize in the bond.\u00a0<\/p>\n Council members initially expected to have the list of bond projects finalized by the end of December and planned to formally call the election by the end of January. Under state law, they have until Feb. 13 to call the election for May.\u00a0<\/p>\n Municipal bonds<\/a> are debt securities issued by cities and typically used to finance capital improvements like facilities and roads. They are not tied to tax rate increases, which are decided in the city\u2019s budgeting process<\/a>.<\/p>\n Under the current proposal, the bond is divided into six propositions: streets and mobility infrastructure, parks and open spaces, public safety, animal care and shelter facilities, public libraries, and affordable housing. Each proposition will appear as a separate item on the May 2 ballot for voters to decide.\u00a0<\/p>\n \n