In March 2012, the first sale of the Streets Bond appropriated $73.5 million. The second bond sale occurred in June 2013 for $130 million.
Investing in the future
Under this bond, the City is investing $65.5 million annually in street repaving. This gets us on track to improve pavement conditions through 2015. If funding is stabilized at this level for the next ten years or so, the Pavement Condition Index (PCI) will improve to 70. We are currently at 67, three more than in 2011 when the bond was passed. The top score is 100.
If the bond did not pass, and the City would have had to rely on projected funding sources which averaged to $26 million per year, and the PCI would fall to 61 by 2015 and to 55 in ten years.