TROY, Mich. (WXYZ) — Troy residents voted down a $137 million bond proposal in Tuesday's election.
With 100% of precincts reporting, 55% of voters went against the proposal, compared to 45% that were for the proposal.
Watch Jolie Sherman's video report below from October on the bond proposal
The approved ballot language asked if the city of Troy should borrow up to $137 million to be paid back over 20 years to build a new library and improve roads, support public safety and upgrade public parks.
Some residents told us in October it's a step in the right direction for the city, and others disagreed, including one resident who is running for city council.
“One of the top things I’m hearing is they’re mad that it was bundled together. You know, some of these people would have supported the library, the police, the parks, but they don’t want it all bundled together, and they’re really bothered that the city would have done that," David Kniffen said to us in October. Kniffen did not win the election and garnered 10% of the vote.
Troy Mayor Ethan Baker said there’s a reason for this.
“Approving one of those items individually,doesn’t help the overall fiscal picture of the city. The reality is if we just have a new library approved, that doesn’t do anything to take care of the rest of the capital needs in the city," Baker said.
He explained the city hadn't asked for a capital improvement bond since 1999, which was approved and has been fully paid off, and he said it’s time for another capital investment.
According to the city, the bond included paying $75 million for a new, three-story library, $35 million for streets, including Coolidge Highway and Wattles Road, $17 million for parks and recreation amenities and $10 million for new fire trucks and police body cameras.
“The reason we ultimately ended up putting it into one bond is it is the most effective way of using your tax dollars, and it’s the most effective way that our capital funding for our city is the most fiscally responsible and protects our assets the most," Baker said.
The bond would have increased taxes for home and business owners. For a property with a $175,000 taxable value, a 1.1 mill bond levy would have increased taxes by $198 a year.
“If you do that math, that breaks down to 16 to 18 dollars per month. And I understand people are worried about the economy. They have every right to worry about their finances," Baker said.
Voters like Heather Hadley said the increase is worth it for the city's future.
“Looking at the cost, just like any family with a budget, it’s really not that much more a year versus the things we pay for every day like subscription services.”
