Public can weigh in on Holden’s bond issue Wednesday

At Wednesday’s Metro Council meeting, residents will have a chance to voice concerns and queries regarding Mayor Kip Holden’s $748 million bond issue. A public hearing on the proposed bond issue will be held prior to the council’s vote on whether or not to send it to the Nov. 19 ballot. Holden has placed the three-part bond issue back on the agenda following a 9-3 vote by the council July 27 to nix it from being introduced. Typically, agenda items are introduced without discussion and then are heard by a committee for recommendation before coming back to the Metro Council for a final vote and public hearing. However, given that Aug. 16 is the deadline for placing items on the ballot, there is no longer time for a committee meeting. The council has the option of sending all, part or none of the three parts of Holden’s bond to the ballot. The package is composed of $298 million for public safety projects, $428 million for infrastructure improvements, and $32 million for renovation and expansion of the River Center complex. Each of the three components calls for a 0.25% sales tax increase; in addition, the public safety projects are to be financed with a property tax hike of 0.85 mills, the infrastructure projects with an additional 2.05 mills, and no property tax increase is proposed for the River Center improvements. Holden has said the plan calls for all approved projects to be completed within the next decade and paid off in 20 years. See the complete proposal here. The council meeting begins at 4 p.m. Wednesday on the third floor of the Governmental Building on St. Louis Street. —Steve Sanoski