びびなび : World : () World

View as a webpage / Share [ https://content.govdelivery.com/accounts/CASANTACLARA/bulletins/3c668c2 ]






City of Santa Clara


News Release





________________________________________________________________________



*FOR IMMEDIATE RELEASE: Monday, December 9, 2024*

*CONTACTS: *Janine De la Vega, PIO | Director of Communications, 408-615-5522 or email jdelavega@santaclaraca.gov






City of Santa Clara
New Bond Paves Way for Maintaining Critical Infrastructure in Santa Clara

"Bond Proceeds Invests in City’s Future"

*"SANTA CLARA, Calif."* – The Santa Clara County Registrar of Voters certified the results of the November 5 election. This means Santa Clara voters passed Measure I, a general obligation bond that will fund greatly needed infrastructure projects in our city.

The $400M in bond proceeds will enhance the City’s efforts to address over $600M in unfunded infrastructure needs such as aging fire stations, stormdrain systems, and aquatic facilities. City staff have already identified projects within the Expenditure Plan and this bond will provide a path forward to making vital repairs and improvements throughout Santa Clara.

“We are incredibly grateful to the voters for recognizing the need to invest in our City and to maintain our roads, parks, and facilities that serve our community,” said Mayor Lisa Gillmor. “This is an essential step to preparing for our future.”

Staff will begin work to prioritize the lists of proposed infrastructure projects within the Expenditure Plan for each project phase of the bond. The plan includes the following specific projects and estimated delivery costs. The project areas are:


* Fire Stations and Emergency Response ($142,235,450)
* Parks, Libraries, Senior Center, and Aquatics Facilities ($115,258,750)
* Stormdrain System Improvements ($46,000,000)
* Police Facilities ($43,987,500)
* Streets and Transportation ($41,170,000)
* Historic Buildings and Beautification ($9,200,000)

In January, the City will be launching a recruitment for members of the Citizens’ Oversight Committee which will act as a body that ensures the funds are used responsibly. The recruitment will be posted to the City’s website. To sign up for updates on the recruitment process and to be added to our mailing list for future Citizens’ Oversight Committee meetings, visit SantaClaraCA.gov/eNews [ https://www.santaclaraca.gov/i-want-to/stay-informed/city-news-and-publications/subscribe-to-city-news-and-events ].

The process of issuing the bonds includes working with the City’s financial advisor to competitively procure an underwriter and bring the bonds to market. At that point, the City will have the initial bond proceeds to expend funds on the projects outlined. Due to the size of the bonding and the time to complete the design and construction documents, there will likely be two to three tranches of bond funding issuances over time. Shorter duration projects may be completed with the first bond issuance. Larger projects will likely require at least two years to design and receive environmental clearance, then building and construction could start.

“This bond will help bridge a major funding gap in maintaining critical infrastructure projects,” said City Manager Jovan Grogan. “We thank the public for the trust placed in us, and our top priority is providing high-level services and amenities to Santa Clara residents and businesses. This much-needed funding will enable the City to enhance our public facilities and provide reliable use for the community in the years to come.”

The Santa Clara City Council will officially ratify the results of the election at its regular council meeting on December 17, 2024.






*About the City of Santa Clara
*Located at the heart of Silicon Valley about 45 miles south of San Francisco, the City of Santa Clara truly is “The Center of What’s Possible.” Incorporated in 1852, Santa Clara covers an area of 19.3 square miles with an estimated population of 129,498. Santa Clara is home to an extraordinary array of high-tech companies, including Applied Materials, AMD, Intel, Nvidia, and Ericsson. The City of Santa Clara is also home to Santa Clara University, California’s Great America Theme Park, and Levi’s® Stadium, home of the San Francisco 49ers and future host site of Super Bowl LX and FIFA World Cup in 2026. For more information, visit SantaClaraCA.gov [ http://www.SantaClaraCA.gov ].






###








Stay Connected with City of Santa Clara: Facebook [ https://www.facebook.com/CityofSantaClara/ ]  Twitter [ https://twitter.com/SantaClaraCity ]  YouTube [ https://www.youtube.com/user/CityofSantaClara ]  Instagram [ https://www.instagram.com/santaclaracity/ ]  Nextdoor [ https://nextdoor.com/city/santa-clara--ca/ ]  Service Request [ https://www.santaclaraca.gov/services/make-a-service-request ]  Nixle [ https://local.nixle.com/santa-clara-police-department/ ] SUBSCRIBER SERVICES:
Manage Subscriptions [ https://public.govdelivery.com/accounts/CASANTACLARA/subscriber/edit?preferences=true#tab1 ]  |  Unsubscribe All [ https://public.govdelivery.com/accounts/CASANTACLARA/subscriber/one_click_unsubscribe?verification=5.e06edfaad464ae19ef58d662db61a884&destination=mshinji3056%40gmail.com ]  |  Help [ https://subscriberhelp.govdelivery.com/ ]
body .abe-column-block { min-height: 0px; }

________________________________________________________________________

This email was sent to mshinji3056@gmail.com using GovDelivery Communications Cloud on behalf of: City of Santa Clara · 1500 Warburton Avenue · Santa Clara, CA 95050 GovDelivery logo [ https://subscriberhelp.granicus.com/ ]