Adler drops surprise $720M mobility bond proposal
Mayor Steve Adler has blasted into the middle of the ongoing conversation about a November mobility bond election by proposing an estimated $720 million package of projects along Austin’s most vital arterials.
In a closed-door speech before the Greater Austin Chamber of Commerce, Adler called for the city to “focus on our major streets.” He said that the way to do that is to pay for the projects outlined in the corridor studies that have been completed or are still pending for South Lamar Boulevard, Airport Boulevard, Guadalupe Street, North Lamar Boulevard and Burnet Road, Riverside Drive and Martin Luther King Jr. Boulevard.
“To complete the corridors all the way costs about $800 million,” Adler said. However, he said the strategic use of tax-increment financing or tax-increment reinvestment zones could drive that number down to as little as $450 million… Read more from the Austin Monitor