A city bond issue could be in the future for Philadelphia residents.
Mayor James Young says before the coronavirus outbreak, city officials were in the very early stages of proposing a $2.5 million bond issue that would include work on six different projects.
The projects include the roof of the old US Motors building, the Marty Stuart project with the Ellis Theater, Dewitt Deweese Park, Booker T. Washington Gym, a multi-county service building and paving several roads. Mayor Young says the projects will benefit Philadelphia long term.
“At this juncture, people get a little mad when you talk about bond issues. They want to know where their tax money is going and the benefits of it in the long run. Every project we have is long term. You pave a street, they last 10 to 12 years. You do buildings, they last 15 to 20 years,” says mayor young.
Mayor Young says these projects cannot be completed with the regular budget. Once again he emphasizes nothing is certain.
