Sept. 27, 2016
Home / Articles / News / Local News /  Paying it Forward
Brief2

Paying it Forward

May 27, 2014, 12:00 am

Santa Fe City councilors are looking for a way to pay for capital projects as the city hammers out its budget for the next fiscal year.

Councilor Peter Ives tells SFR he’s thinking about a measure that would increase property taxes to pay for core services. “I’m looking broadly across the budget,” he says, noting that he’s considering revenue streams to pay for such projects as a fire station in the area the city recently annexed from the county.

The current fiscal year ends June 30, and the 2015 budget represents the first test for a fresh set of city councilors and newly elected Mayor Javier Gonzales as they deal with providing services for an extra 4,445 households added to the city as a part of the annexation.

Councilors will also vote on whether to approve public works projects such as upgrades to trails and parks. For example, officials want to rehab $326,000 worth of pavement on Santa Fe Trail and say they need $56,000 for the Gail Ryba Trail for a total of $382,000—money that would come out of the $14 million general obligation bond approved by voters in 2012.

Councilors will also weigh whether to borrow $18 million via a new proposed capital improvement bond. As opposed to general obligation bonds, capital improvement bonds don’t have to be approved by voters. The bond, repaid through existing tax increments, would pay for projects like repairs to intersections at St. Francis Drive and Zia Road; repairs to 40 city buildings and equipment for city recreation centers.

 

comments powered by Disqus
 

Morning Word: Death Penalty Reinstatement Would Cost State Millions

Morning Word At the same time New Mexico lawmakers are trying to shore up the state’s budget, the New Mexico Public Defender's Office is questioning the costs associated with reinstating the death penalty.  ... More

Sept. 22, 2016 by Peter St. Cyr

Newsletters

* indicates required
Choose your newsletter(s):
August 31, 2016 by Julie Ann Grimm  
September 7, 2016 by Elizabeth Miller  
August 31, 2016 by Elizabeth Miller  
September 14, 2016 by Steven Hsieh  

@SFReporter on Instagram

 

 
Close
Close
Close