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Coleman Campaigns for $1.6 Billion Bond Package
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With the faltering economy and a budget deficit on the horizon, Columbus Mayor Michael Columbus is campaigning for passage of a $1.6 billion dollar bond issue. Coleman wants voters to approve the bond issue that will appear on the November 4th ballot. It’s the largest bond issue in Columbus history.
Mayor Coleman says voter approval of the $1.66 billion bond issue means an investment that will transform neighborhoods around the city.
“Safety and health, streets and highways, water, refuse collection, sanitary sewers, recreation and parks; it goes to the very essence of who we are in our community,” Coleman says. “It adds to our quality of life and provides for the basics of what we need.”
Coleman made his appeal amid the shattered glass of an abandoned building at the Columbus Coated Fabrics site in Wieland Park. He said that investing $13 million in the 17 acre site will leverage $36 million in private sector dollars to build a new neighborhood.
“Columbus Coated Fabrics was once a job center in the city. It represented a definition of blight in America. The residents were tired of it, the city was tired of it. We’ve begun the process of tearing down the buildings and redeveloping it,” Coleman says.
If the Bond issue is approved Coleman says the city would spend $124 million in jobs centers. And it would invest $432 million in new sidewalks, road resurfacing, new fire stations, and new health and recreation centers.
Coleman says the bond issue will not result in a tax increase. He says the city sets aside 25 cents of every tax dollar to pay off its bond indebtedness.