Lubbock City Council Members are now considering a $300-million bond election that could be called for in November, but the improvements included in the recommendations would come with a steep increase for taxpayers.
If the election is called and all the bonds are passed, folks could end up seeing a significant tax increase each year for the next four years.
"No one wants additional taxes, believe me, however we do want services, safety, and a quality of life," a member of Lubbock's Citizen Advisory Committee said.
That's the pitch members of Lubbock's Citizen Advisory Committee made to city council on Thursday, but are Lubbock voters willing to pay $300-million to make those upgrades?
"If we don't help ourselves right now in certain key areas, the cost to do it later is astronomical, and it's only going up," Citizen Advisory Committee Chair Bill Miller said.
The recommendation calls for tearing down the City Bank Auditorium and Coliseum, and building a new performance arts center and multi-purpose arena downtown.
Folks would also see soccer fields at the new youth sports complex, remodeling at the Lubbock Memorial Civic Center, construction of a Mercado, and improvements to streets, parks, and public safety, but here's what it would cost.
For those who own a $100,000 home, you would see your taxes go up by $43 the first year add an additional $56 the second, $47 the third, and $56 the fourth, for a total of $202 in four years.
"This is really a tipping point; there are a lot of good things going on in our city; there are a lot of good people, and we've got some venues from the Civic Center to the auditorium and coliseum that just need some help," Miller said.
The advisory committee came up with their proposal, using the results from a survey sent to 60,000 chamber members.
Council is expected to vote on whether or not to call a bond election on July 26th. If the council approves the election, voters would have their say in November.
This is not an all or nothing situation. Voters would be able to chose which upgrades they would like to see, and if all the options are not approved, the tax hike would go down.
Here's a break-down of how much each project would cost:
Public Safety - $10,850,000
Parks - $28,265,000
Libraries - $5,150,000
Mercado Recreational Amenities - $1,500,000
Northeast Lubbock Streets - $2,245,000
Streets - $52,565,000
Civic Center Renovations - $85,000,000
Performing Arts Center - $55,000,000
Multi-Purpose Arena - $60,000,000
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