ST. PETERSBURG — St. Petersburg voters will decide Nov. 3 whether to authorize up to $600 million in general obligation bonds to accelerate storm resilience work on the city’s wastewater, drinking water and flood-protection systems.
The measure is tied to St. Pete Agile Resilience, or SPAR, the city’s post-Helene and Milton push to harden utilities against storm surge, heavier rain and rising seas. During Hurricane Milton, two of the city’s three wastewater treatment plants had to shut down. Public Works Administrator Claude Tankersley has told residents the goal is to keep plants like the Northeast Sewer Treatment Plant running even through a major surge.
“After the storms in 2024 to now, the most common comment I hear is, I don’t want to wait 24 years,” Tankersley said during a community webinar this week, according to WUSF. “How can we get this done more quickly? And so this is our attempt to find a way to do it more quickly.”
What the bond would — and wouldn’t — change
City officials say SPAR projects move forward either way. About $2.7 billion in work is already on the books; paying only through utility rates would take roughly 24 years. A $600 million GO bond, issued in series from about 2027 to 2030, would shorten that timeline to about 19 years and lock in more work at today’s construction prices, which Tankersley said have jumped 45% to 50% in recent years.
“SPAR projects will be paid for regardless of whether the GO bond passes or not … through utility rates,” he said. The bond would add capital so priority flood, wastewater and drinking-water upgrades finish sooner. More than half of the $600 million is planned to protect water and wastewater utilities from storm surge so outages and sewer spills are less likely in the next big storm, the city says.
Eligible work includes floodwater protection, stormwater pump stations and drainage, plus wastewater collection and treatment and drinking-water distribution and supply. Projects would stay inside the city’s Capital Improvement Program with City Council oversight; officials also plan public dashboards and a citizen advisory group if voters say yes.
Cost to property owners
Unlike utility-rate financing, a general obligation bond is repaid through property taxes. The city’s estimate is about 0.96 mills, or roughly $96 a year per $100,000 of taxable value, at an assumed 4.5% interest over up to 30 years. Tankersley told a League of Women Voters / St. Pete Catalyst forum that financing the same $600 million only through utility bills would cost a typical customer about $486 more a year — and that the bond looks cheaper for about 89% of city properties.
Households with much higher taxable values (above about $500,000) could pay more under the bond than under a pure rate increase. Renters would not see a new line on a tax bill, though landlords could pass costs through; under a rates-only path, renters would pay the utility increase directly.
What’s on the ballot
St. Petersburg City Council approved the ballot language July 23. Registered city voters will see a yes/no question on whether the city may issue GO bonds not exceeding $600 million for storm resilience improvements, pledging the city’s full faith, credit and unlimited ad valorem taxing power. Early voting and Election Day details will come from the Pinellas County Supervisor of Elections as November approaches.
Residents can review project maps, cost charts and FAQs on the city’s SPAR bond page before they vote.