$500M GO Bond offers big opportunities for project developers - Phoenix Business Journal

By Abby Michael – Contributing writerThe city of Phoenix is initiating its first general obligations bond program since 2006. GO bonds are municipal bonds used to fund intermittent capital and infrastructure development projects that do not generate revenue independently but provide an essential benefit for the general public. The Fiscal Capacity Committee and Executive Committee created the initial bond proposal based on ato assess and prioritize the immediate and long term needs of the city.

City Council appointed eight subcommittees comprised of community leaders who have experience with the chamber of commerce, politics, local government, nonprofits, businesses and unions across various industries. These subcommittees will determine which projects to include in the final proposal that will likely be presented to council in January and, if passed, added to the November 2023 election ballot for Phoenix residents.

Check out the GO PHX tool to review the proposed projects with their respective budget and submit your feedback at phoenix.gov/bond/phx-go-tool and contribute your input by attending the GO Bond public meetings or via social media using the #GOPHX2023 hashtag. Here are the project highlights:projects amounting to $56.

If approved, these projects will create an enormous opportunity for local businesses to bid their products and services. The projects will also provide much-needed improvements to infrastructure throughout the city with little to no additional costs for residents. The proposed $500 million bond structure was created with the goal of ensuring that the program would not impact the secondary property tax rate, which will be the primary means used to back and repay the bonds.

Businesses interested in finding out more information on projects that their company may want to bid on can access the

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