Item 5: Resolution on GO Bonds to Fund Street Preservation

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ECC UGENE ITY OUNCIL AIS GENDA TEM UMMARY Action: Resolution 5063 Calling a City Election on November 6, 2012, for the Purpose of Referring to the Legal Electors of the City of Eugene a Measure Authorizing the Issuance of a Maximum of $43,000,000 of General Obligation Bonds to Fund Street Preservation Projects and Bicycle and Pedestrian Projects Meeting Date: July 9, 2012 Agenda Item Number: 5 Department: Central Services/Public Works Staff Contact: Sue Cutsogeorge www.eugene-or.gov Contact Telephone Number: 541-682-5589 ISSUE STATEMENT The council will consider placing a General Obligation (GO) bond measure for street preservation on the November 2012 ballot. BACKGROUND Council Action History Following considerable study and discussion, including forming a Council Committee on Transportation Funding and convening an ad hoc citizen Street Maintenance Task Force, the council on July 28, 2008, approved Resolution 4953, calling a city election on a measure authorizing the issuance of $35.9 million of general obligation bonds to fund street preservation projects. Eugene voters on November 4, 2008, passed the five-year general obligation bond to fix streets, payable from property taxes beginning November 2009 and continuing through November 2013. The taxes levied from the 2008 street bond, end in 2013. The 2012 Pavement Management Report was presented to the council on February 29, 2012, and provided updated information on the condition of asphalt paving in Eugene using 2011 rating and inventory data. The report showed progress had been made on the condition of Eugene’s streets in part due to the additional funds available from the GO bonds, but more work was needed to further reduce the backlog of repairs on the 1,364 lane-miles of streets in the city. Specifically, the 2012 report calculated the backlog of repairs on improved asphalt streets was $118 million; a reduction in the estimated backlog of needed repairs of more than $50 million since the 2008 bond was approved. Despite this short-term downward trend, the backlog is projected to continue to grow unless there is an increase in funding that is both sufficient and sustainable. In anticipation of the expiration of the 2008 bond measure, at the October 26, 2011, work session, the council provided direction to staff to work with the citizen Street Repair Review Panel (SRRP) to develop a recommendation on a 2012 bond measure. On April 10, 2012, the SRRP unanimously approved the recommendation to renew a five-year $43 million bond measure to fix 76 streets and fund bicycle and pedestrian projects. S:\CMO\2012 Council Agendas\M120709\S1207095.doc