The St. Petersburg City Council approved a resolution Oct. 15 supporting the creation of a General Obligation (“GO”) Bond Advisory Committee.
The resolution passed 7-1, with Gina Driscoll representing the lone dissenting vote.
During a televised debate last week, mayoral candidates Charlie Crist and Ken Welch agreed that an advisory committee would be welcome. However, the committee would not have authority over spending.
The Sierra Club and the Council of Neighborhood Associations (CONA St. Petersburg) were the original advocates – although it was Councilmember Richie Floyd who shepherded the item onto the City Council agenda after meeting with representatives from the Sierra Club and CONA.
When asked what an advisory board could do that City Council could not, Floyd said, “We’re trying to give citizens an outlet to let their voice be heard regularly on this topic. We want to empower residents across the city to discuss the proceeds of the bonds.”
As per the city charter, the committee will be appointed by the mayor and confirmed by council. It’s one person per council district. Council members will likely suggest picks to the mayor, according to Floyd.
Driscoll explained that its not the concept of an advisory committee that prompted her to vote now, but rather the “size and makeup” of the committee, saying the committee is “too large and not adequately focused on subject matter expertise.”
The advisory committee would consist of four subject matter experts and eight regular residents, one from each district, making a total of 12.
The committee would only be established if voters approve the city’s proposed $600 million GO bond referendum on Nov. 3.
A GO bond allows a city to borrow money for public projects, with repayment backed by property taxes. Unlike bonds repaid through utility revenues, GO bonds rely on the city’s taxing authority. Voter approval would authorize St. Petersburg to borrow up to $600 million, potentially through multiple bond issuances over time.
The money would fund stormwater, wastewater and drinking water infrastructure improvements through the city’s St. Pete Agile Resilience (SPAR) program, which was developed following Hurricanes Helene and Milton.
The proposal has become a point of disagreement in the mayoral race. Welch supports the bond, while Crist opposes it. Both, however, support establishing an advisory committee should voters approve the referendum in November.
The bond would be repaid through property taxes, separate from the city’s utility rates. Styza previously reported that City Council approved increases of 8.5% for stormwater, 7.5% for water and 6.5% for wastewater for the new fiscal year.