The Tempe City Council next month will revisit the idea of conducting a bond election to increase funding for affordable housing, protecting historic places and upgrading streets.

Council members heard information about leveraging bonds to increase affordable housing opportunities and preserve and maintain Tempe’s historic places at their Feb. 8 work study session.

Questions regarding a November bond election will come back to the Tempe City Council in March at a future work session.

Tempe officials said the city has invested $72 million in housing solutions as well as assistance to the community’s unsheltered population.

To accelerate the city's affordable housing efforts, an additional $32 million is being requested, $8 million annually for four years.

The cost to the average household would be about $19 annually, according to a city release.

“With these funds, Tempe could bolster the availability of affordable housing, specifically catering to vulnerable populations, including low-income older adults, people with disabilities and at-risk families with children,” Tim Burch, director of community health and human services, said.

“An infusion of new funds would support both our Hometown for All initiative and Affordable Housing Strategy to ensure a diverse mix of housing opportunities in Tempe.”

Tempe’s history also could receive a boost.

Approximately $12.3 million is being requested to restore, maintain or purchase historic properties.

The affordable housing and historic preservation funds “provide bandwidth for purchasing properties,” allowing the city to buy property with the intent to develop affordable housing and to protect and preserve endangered historic properties that could go on the market, the release stated.

"The ability to have funds ready to purchase property would go a long way to helping us build affordable housing," Burch said. 

Other items being considered for November include $180 million to restore all Tempe streets within four years.

Current pavement cost estimates are $1.3 million per mile, officials said.

The cost: $81 a year for the median household.

"This plan honors Tempe's past, present and future residents with historic preservation, renewed roads and affordable housing," Councilmember Arlene Chin said. "It is a reflection of our city values."

Tempe would pay the bonds back over 20 years.

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