2026 11 10 Recording Fiscal Capacity Committee

The City of Phoenix Fiscal Capacity Committee met on November 10, 2026, to review financing alternatives and update its report for City Council consideration on December 1. Staff compared three general-obligation bond scenarios for water and other city infrastructure: Alternative 1 provides $250 million for water in 2027 followed by a $575 million program in 2028; Alternative 2 provides $200 million for water in 2027 and shifts the $575 million program to 2029; and Alternative 3 combines needs in a $650 million program in 2028. Staff said all options meet the committee’s financial objectives, with no modeled increase in the secondary property tax rate. The alternatives differ in near-term capacity, timing, and the spacing of future bond programs; staff expressed no preference, leaving the choice to Council.

The committee unanimously approved forwarding the alternatives and the revised committee report to Council for its December 1 meeting. The report notes that operating costs for water infrastructure would be covered by the water enterprise fund, and that the capacity of that fund and the specific projects would require further analysis if Council chooses a water bond program. No contract awards, vendor selections, or other procurement actions were identified.