Mayor Hodges Signs Long-Term Funding Package for Streets and Parks
Agreement Unanimously Passed by City Council
April 29, 2016 (MINNEAPOLIS) — Mayor Betsy Hodges has signed a long-term package to equitably address long-standing capital and operating needs for City streets and neighborhood parks, following weeks of negotiations on the deal.
Approved 13-0 by the City Council, the package provides for $33 million in funding each year for up to 20 years to meet both urgent needs. It is paid for through a combination of increases in the property-tax levy, clearly identified cash, and other non-tax revenue increases. Capital spending for streets will increase by $21.2 million annually, with an increase to funding for regular maintenance of $800,000 per year. The parks will receive an additional $8 million in annual capital funds for neighborhood parks, and a one-time $3-million increase to their operating levy.
“This is a generational moment for the City of Minneapolis,” said Mayor Hodges. “This agreement addresses the critical infrastructure and operating gaps for both our streets and our neighborhood park system, and it invests in that infrastructure equitably. It provides clear, transparent sources of funding and acknowledges that we’re making real, tough choices. We will meet our duty to the generations before us who built Minneapolis, and our duty to the generations to come by ensuring they inherit a 21st century city.”
“It is to all of our credit as the City’s elected leadership that we were able to stand today and endorse this long-term commitment,” continued Mayor Hodges. “I am grateful for the time, effort, and good faith of the Council Members and all parties involved in crafting this proposal.”
Mayor Hodges has repeatedly expressed her long-standing support for meeting the long-term capital needs of both Minneapolis’ neighborhood parks and city streets and bridges. The Minneapolis Park and Recreation Board had previously identified a $15-million annual capital gap for neighborhood parks. The City’s Public Works Department recently presented the City Council with a report estimating that $30 million in capital is needed each year for the next 10 years to maintain city streets. The report also showed that continued inaction on street investment would significantly increase the cost of repairing city streets in the future.
“This is a good day. This proposal does not meet the whole need for either our neighborhood parks or our streets, but it is a big, generational step forward for both,” Mayor Hodges concluded.
Published Apr 29, 2016