FORT WAYNE, Ind. (WANE) Mayor Tom Henry’s administration will introduce an ordinance at the Tuesday, February 11 meeting of the City Council that calls for a $30 million bond to help pay for neighborhood infrastructure improvements.
According to a news release issued Friday afternoon, 2014 will see a record amount of street, road and sidewalk improvements that are set to begin in the spring.
The news release also indicates that the bond, along with funding through the financial plan passed by City Council last June as part of the Fiscal Policy Group created by Mayor Henry that allows for pay-as-you-go funding for future projects, would allow the City to complete the backlog of street and road projects by the end of 2018.
The process to explore the option of an infrastructure bond was originally discussed with City Council last fall.
“We’re demonstrating a strong commitment to investing in our future by allocating substantial funding to enhance our neighborhoods and meet the needs of the community,” said Mayor Henry.
Following introduction on Tuesday, the bond is scheduled to be discussed on Tuesday, Feb. 18, with possible final passage on Tuesday, Feb. 25.