City of Kyle authorizes $294.4-million bond for November election to address roadways

Kyle City Council recently authorized a $294.4-million bond proposal for the November election, which will focus on roadways across the city.

The city council’s decision made on Monday will have voters consider Proposition A to reconstruct, expand and upgrade specific roadways in the City of Kyle. The bond will fund eight roadway projects in Kyle, totaling 10.3 miles of new roads, reconstruction and widening projects to improve the city’s transportation network, the city said.

The projects funded through the proposed bond will add capacity to support current and future needs, the city said, adding that it expects the to increase economic development, reduce congestion and emergency response times, increase vehicular and pedestrian safety, and strengthen connections between the east and west sides of Kyle.

“After more than a year of research and preparation, we are excited to finally present these projects to the public,” Mayor Travis Mitchell said in a statement. “Each project was carefully reviewed by city council, city staff, expert engineers, and outside financial analysts. Once constructed, these projects will make Kyle safer and will dramatically increase connectivity throughout our community.”

The Kyle City Council’s decision came after more than a year of work and preparation. Council’s move is meant to address the City of Kyle’s annual Community Survey results, where residents have often expressed interest in safety, mobility and maintenance of existing roads.

Prior to the vote, multiple public bond workshops took place where city staff and council examined existing street conditions, heard from engineering experts and traffic modelers, and look at a multitude of potential projects throughout Kyle.

The city said in a news release that the bonds are “general obligation bonds,” which means they will be sold to investors backed by the full faith and credit of the City of Kyle’s AA-bond rating and paid off using city property taxes.

The City of Kyle’s outside financial advisors used “very conservative” assumptions when analyzing tax impact, the city said. Staff and advisory examined the tax impact as if there were an economic downturn in the Kyle area in order to “protect the city,” modeling for new commercial and residential construction slowing to a fraction of past levels or current trends

The city said under this scenario, the projected tax increase if Proposition A is approved by voters is $0.0917 cents per $100 evaluation, translating to about $25.87 per month for the average priced single family home in Kyle.

The city added that it will be conducting a public education campaign with additional information for voters. Preliminary details about the bond proposals are available at kylebonds.com.