Bond Background:

On November 6, 2018, Salt Lake City voters approved the $87 million Streets Reconstruction Bond. This new dedicated funding allows the City to begin addressing our most deteriorating streets and, when paired with new sales tax revenue for streets maintenance, will enable us to prolong the life of our entire street network.

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Condition of City Owned Streets

A 2017 pavement condition survey revealed that nearly two-thirds of Salt Lake City streets are in poor or worse condition. A large number of these streets are in such poor condition that they need to be entirely rebuilt.

Click on the pavement condition map to view the status of the streets you use every day.

 

Streets Reconstruction Bond

Part of the May 2018 approved sales tax increase boosted funding for ongoing street maintenance (resurfacing, pothole repair, etc.), but funding for capital-intensive streets reconstruction projects was still needed.

To fund some of these significant road-construction needs, City leaders asked voters to approve an $87 million General Obligation (GO) bond in November 2018. Voters approved the bond 67.51%.

City leaders proposed using results from the most recent comprehensive engineering study to apply funds in an 80/20 split – meaning 80 percent of funding would go to the major streets residents use most and 20 percent would be spent on local neighborhood streets.

City Council Street Reconstruction General Obligation Bond Issuance and Sale Staff Report

The next steps for the Streets Reconstruction Bond are:

• Funding will be issued as several smaller bonds totaling no more than $87 million.
• Salt Lake City sold the first $20 million installment of the bond in October 2019, and the second installment of approximately $20 million in September 2020. 
• The first streets reconstruction projects funded by the bond began construction in 2020.

View the map of bond streets reconstruction projects for the next two years.

Quick Facts about the GO Bond

• Because the City paid off two existing bonds in 2019 for the Main Library and The Leonardo, the GO bond has minimal new financial impact on property owners.
• Property taxes for the average home increase slightly – less than $5 a year.
• Bond revenue can only be used for specific one-time projects. When the ballot says the bond is for street reconstruction, the City may only use that money for street reconstruction.
• A GO bond is the City’s preferred revenue option because it provides the accountability that residents have demanded.
• Bonding is a financially-responsible approach for the City and is the least expensive form of government financing. The cost of debt is low – ranging from 3.2% to 5%.
• Salt Lake City has a AAA bond rating (the highest available) meaning the City has a strong history of managing debt responsibly.

 

Streets Project Selection Process

The City will use the voter approved bond funds to reconstruct the City’s most deteriorating streets. Street reconstruction projects will be selected using results from a 2017 engineering study that identified the current condition of all City-owned streets.

The goal will be to address the City’s worst streets first. Based on the recommendation from the City Council, bond funds will be applied in an 80/20 split with 80 percent of funding going to major, high-use streets that require more money to reconstruct and 20 percent going to local, neighborhood streets, which typically require less money to rebuild. Allocating funds this way will ensure that all areas of the City receive funding.

Selection Criteria

Salt Lake City’s Engineering Division will use the following criteria to determine which streets reconstruction projects can be completed within the required time frame that will maximize the use of funds and minimize disruption to residents.

Selection Criteria (in no particular order):

• Travel demand and safety data
• Pavement condition
• Existing or upcoming utility projects
• Current or planned public transit improvements
• Resident complaints/requests
• Benefits identified in City Master Plans

 

Report a Street Condition Issue

Use the link below to report a pothole or other street condition issue.

REPORT A POTHOLE OR OTHER STREET CONDITION