Columbus begins push for $2 billion bond issue

COLUMBUS, Ohio (WCMH) -- Members of Columbus City Council held a public hearing Wednesday to discuss the proposed capital bond package set to go before voters in November.

Every three years, the city asks voters to approve a bond package, and this one is the largest in Columbus history, nearing $2 billion.

The bonds -- $1.9 billion -- would be spread over five different areas: affordable housing, public service, recreation and parks, public utilities, and safety. Councilmember Nick Bankston said Wednesday’s session was just the beginning of a lengthy process. 

“Bonds are basically the way it gives us the authority to borrow money to be able to make capital investments,” he said.

The Columbus Department of Finance said $500 million would go towards public utilities and affordable housing, while $400 million would go to public service, $250 million to recreation and parks, and safety, health, and infrastructure.

“I think what is historic in this bond package is the clause around affordable housing, asking voters for $500 million to make those significant investments in housing,” Bankston said.

Bankston knows affordable housing is so critical right now as the city continues to grow. 

“Residents who are low income or moderate income are feeling the pain the most,” he said. “This is our third time going to voters around housing and each year, those asks have gotten larger because the need is there, but every time, this community has stepped up and said that housing is the top priority.”

Resident Resources Network Executive Director Shon Burch knows the need for affordable housing. Her nonprofit works to connect people to services that can keep them in stable housing.

“When those residents aren't being connected to those resources, when they ultimately reach that point of being evicted, homelessness is where they find themselves,” Burch said. “They aren't going to have the ability to really just easily pick themselves up and walk back into another housing situation when they have an eviction on their record.”

Bankston wants residents to know that the city won’t raise property taxes with this measure. On Monday, city council is expected to consider a resolution to move the proposed bond package forward.

For more information about the bond package and how it works, check out the city’s website by clicking here.