Building Tomorrow's Community
NO TAX RATE INCREASE
Building UP Grandview
Frequently Asked Questions
WHAT IS A BOND?
Think of a general obligation bond as a mortgage or car loan. The City borrows money and promises to pay it back over time. In Missouri, bonds must be approved by voters.
IS IT THE RIGHT TIME FOR THE CITY TO BORROW MONEY?
Here's a list of reasons why now is the right time:
Historic low interest rates
5.4% Grandview population growth 2019-2020
Due to new construction, the City received its highest assessed valuation in history
Solid credit rating: AA-
Strong general fund reserves (emergency fund)
One of the lowest debt-per-capita rations in the Kansas City Metro
what if voters say
Allows the city to issue general obligation bonds up to $21 million.
The City receives funding for needed safety improvements and renovations to Grandview Police Department and Municipal Services Complex, both opened in 1975.
The City receives funding for resurfacing an estimated 25% of all City streets.
Blue Ridge Boulevard from Grandview Road to Third Street would be resurfaced and receive new sidewalks and a new railroad bridge.
Grandview Fire Department could renovate its fire stations and replace its aging fire truck.
City property tax rates will remain the same. There will be NO TAX INCREASE to issue these bonds.
WHAT WILL I SEE ON THE BALLOT?
Voters will see three questions on the Tuesday, April 5th ballot. These are all NO TAX RATE INCREASE bond issues.
QUESTION 1: Shall the City of Grandview, Missouri issue its general obligation bonds in the amount not to exceed $6,000,000 for the purpose of renovating, equipping, improving, expanding and furnishing Grandview Municipal Services Complex/Police Station, including the adjacent city-owned building?
QUESTION 2: Shall the City of Grandview, Missouri issue its general obligation bonds in the amount not to exceed $12,400,000 for the purpose of improving and extending the City’s transportation-related infrastructure, including streets, bridges, sidewalks, parking areas, and construction of a carport to shelter City street equipment?
QUESTION 3: Shall the City of Grandview, Missouri issue its general obligation bonds in the amount not to exceed $2,600,000 for the purpose of renovating, equipping and improving the City’s fire stations, as well as acquiring necessary apparatus for the Fire Department?
WHO PAYS FOR THE BOND PACKAGE?
The City pays for the bonds from taxes received from property owners. The current City property tax rate is $1.28 per $100 assessed value, or 17% of total tax bill. THIS IS A NO TAX INCREASE BOND PACKAGE AND RATES WILL NOT INCREASE IF THESE BONDS ARE APPROVED.
HOW LONG WILL IT TAKE TO PAY BACK THE BONDS?
20 years or less.
WILL APPROVAL OF THESE BONDS RAISE MY TAXES?
No. This is not a new tax or a tax rate increase. The City has the financial capacity to issue $21 million in bonds with NO TAX RATE INCREASE to citizens and property owners.
WHAT WILL HAPPEN IF THE BOND PACKAGE IS APPROVED BY VOTERS?
Grandview will be able to issue up to $21 million dollars in general obligation bonds for the projects and purchases for PROPOSED PROJECTS. View the projects and details here.
The City cannot issue general obligation bonds without voter approval.
Funding for safety improvements and renovations to Grandview Police Department and Municipal Services Complex would have to come from funds budgeted for other purposes.
Resurfacing roughly 25% of all Grandview streets will take years due to limited funds.
The City could be faced with the prospect of having to give back millions in grant funding for the Blue Ridge Boulevard railroad bridge due to lack of funding.
Grandview Fire Department could not replace its ladder truck and make station renovations.
what if voters say
HOW DID THE CITY CHOOSE THE PROJECTS FOR THE BOND PACKAGE?
City leaders considered feedback from the 2019 Grandview Citizens Survey, goals from the 2021 Board of Aldermen Strategic Plan, a comprehensive list of needs across City departments, future transportation projects, and a 2018 study of road conditions conducted by the University of Missouri-Columbia.
WHEN DID GRANDVIEW VOTERS LAST APPROVE A BOND PACKAGE?
Grandview voters overwhelmingly approved a $13 million NO TAX INCREASE bond package in August 2014 for public safety and parks improvements. All of those projects are complete.
WHY IS THIS BOND PACKAGE IMPORTANT?
Grandview's population grew 5.4% from 2019-2020. As we gain more citizens, and businesses, the demand for City services increases. Grandview Municipal Services Center and Grandview Police Department buildings are nearing 50 years old. In addition, the cost of maintaining 115 centerline miles of city streets has doubled within the past 20 years. The bond package will help prepare the City to meet current and future needs by improving City facilities, resurfacing roughly 25% of Grandview streets, and outfitting firefighters with a new fire truck to replace the aging one.
IF APPROVED, WHEN WILL PROJECTS START?