ANCHORAGE – Today, the Municipality of Anchorage put forward a comprehensive $46 million bond package investing in Anchorage’s economic foundation and enhancing our trails and park system.
“The 2017 bond package invests in critical road and facility infrastructure, prioritizes public safety, and enhances Anchorage’s parks and trails in a financially responsible manner,” said Mayor Ethan Berkowitz. “It includes shovel ready projects, creating Anchorage jobs and supporting local economic development.”
The bond package provides Anchorage infrastructure funding for the second phase of the 100th Avenue extension from Minnesota Drive to C Street. Traffic safety is also prioritized with a focus on the Duben Avenue upgrade from Patterson Street to Muldoon Road, as well as an upgrade along Turnagain Boulevard from 35th Avenue to Spenard Road. With medical emergency responses trending upward, the bond package also proposes adding two new ambulances for AFD.
The Parks and Recreation bond includes investments in Anchorage’s major trails – Campbell Creek and Chester Creek – as well as parks that attract citywide use such as Town Square Park and Valley of the Moon.
The Municipality is retiring $36 million in general purpose bonds. S&P Global Ratings recently improved Anchorage’s bond rating outlook from negative to stable and reaffirmed its AAA bond rating. Strong ratings have allowed Anchorage to refinance old, higher interest bonds, saving taxpayers millions of dollars.
The 2017 bond proposals will cost $11.38 per $100,000 of assessed property value for debt service.
For more information, contact Myer Hutchinson at (907) 343-7133.
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