02/03/2014

ACEC Ohio joins campaign committee seeking renewal, expansion of local public works program

The proposed renewal and expansion of the local infrastructure program administered by the Ohio Public Works Commission will appear on the May 6 statewide ballot, and ACEC Ohio will be represented on the committee that campaigns for its approval. 

Both houses of the Ohio General Assembly voted Jan. 22 to ask voters to approve a 10-year renewal of the State Capital Improvement Program (SCIP), which funds local water, wastewater, road and bridge projects in every corner of the state.

The proposal would increase annual SCIP funding to $175 million for the first five years of the proposed renewal and $200 million in years six through 10. Current bonding authority under the program, which is set to expire in July 2015, is capped at $150 million annually.

The SCIP was first approved by voters in 1987 and renewed in 1995 and 2005. Because the program has helped to finance several billion dollars worth of local infrastructure improvements since its inception, it has grown to be an extremely popular program with both local officials and state legislators.

A total of $1.875 billion in bonds would be authorized for issuance over the 10-year life of the program.  The Office of Budget Management has estimated that issuance of the 20-year bonds would result in total debt service of $3.01 billion.