Louisville Metro Council To Decide How To Pay For Road Funding Increase
One of the last-minute decisions the Louisville Metro Council will make as members vote Thursday night on the city's budget is how to pay for a $5 million increase in spending for roads.
Councilman Kelly Downard, the vice chair of the council’s budget committee, said the city budget will definitely include extra funding for the city’s roads. But how the increase will be paid for is still not yet certain.
“We had a plan to raise it ourselves,” he said. “The administration came over at quarter to five right before our meeting last night and said they would just as soon increase the existing paving bond by $5 million. So, that’s what we will probably do.”
Downard said members will discuss increasing the bond during the council meeting, but he’s not sure all members will be on board for increasing the debt.
“We will do it," he said of the increase for roads. "I just don’t know which one we will do.”
Downard said he recommended to the committee last night that it consider the option to increase the paving bond.
The budget will also include $200,000 re-evaluate the conditions of the city’s roads, which hasn’t been done in three years. He said an updated rating system will mean money will be spent on roads that most need it.
If the funding increase is approved, the roads budget will total $11 million this year.
Mayor Greg Fischer proposed $873 million for next fiscal year’s budget. The current fiscal year ends next week.