St. Pete eyes $600 million resiliency bond to tackle flooding and harden city infrastructure
/Heavy rainfall and storm surge have exposed serious vulnerabilities in St. Pete's aging infrastructure over the years, and the city is now asking whether a $600 million bond is the right tool to fix it faster.
Last Thursday, the City's Budget, Finance, and Taxation Committee discussed placing a General Obligation (GO) bond referendum on the November 2026 ballot.
The proceeds would fund a portion of projects under the St. Pete Agile Resilience (SPAR) program, a city-led initiative to accelerate flood protection, stormwater improvements, and utility system hardening before the next major storm arrives.
The $2.7 billion SPAR program, which will be set up regardless of a potential November referendum, will be funded through utility fees.
Without the bond, that work gets spread over 24 years through fiscal year 2050 as utility revenue accumulates.
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