Overview
- City Council will meet to consider ordering a citywide referendum on a $489 million bond for the Spurs arena before the Aug. 17 deadline, but at least six council members have voiced opposition and the mayor appears short of the votes needed to place it on the November ballot.
- City staff are preparing a draft FY2027 budget to help close a two‑year $158 million gap and have offered two paths: a cut‑heavy plan that would eliminate nearly $138 million and more than 200 positions, or a staff‑preferred plan that relies largely on raising the property tax rate.
- Officials say fully using the unused tax increment would raise the average homestead about $81 in city taxes while roughly 46% of homesteads with senior or disabled freezes would see no change.
- The city found only about $4.5 million of the voter‑approved Ready to Work program’s roughly $120 million could be reallocated to the general fund, limiting that option and prompting the mayor to seek private philanthropic support for 15 outside agencies.
- Council work already includes roughly $10.7 million in cuts penciled for FY2027, specific examples like $1 million from the Minor Home Repair program and $200,000 from the Botanical Garden, and an expected vote on a 20‑year Pre‑K 4 SA sales tax reauthorization that could affect longer‑term revenues.