Frequently Asked Questions
What is the "Hollywood On The Go" General Obligation Bond?
On March 12, 2019, the City of Hollywood held a Special Election where a majority of voters decided to fund a variety of city-wide public improvement projects to be funded by a General Obligation Bond (GO Bond) of $165 million. The bonds will cover city-wide improvements in three broad categories:
- Public Safety Facilities, Technology and Equipment - $78 million
- Parks, Open Space, Recreational and Cultural Facilities - $64 million
- Neighborhood Improvements, Infrastructure and Resiliency - $23 million
◦ Every dollar will be spent in the City of Hollywood.
What are the goals of Hollywood On The Go?
◦ To improve public safety and the quality of life of residents
◦ Improvement projects could help increase property values and expand the City’s tax base
◦ General Obligation Bonds allow the City to direct significant funding to a significant number of complex, large-scale projects sooner, thereby improving the quality of life for current residents than other funding methods.
◦ Local business participation through contract awards. Qualified local businesses would be able to participate in this process.
◦Create local jobs – City improvements may attract private investment in the form of new businesses.
What are some of the improvement projects proposed?
- New Hollywood Police Department Headquarters
- Hollywood Fire Rescue Trucks and Equipment
- Traffic Calming and Control Measures
- City-wide Park Improvements
- Preservation of Open Space through the acquisition of the former Sunset Golf Course and revitalization of Orangebrook and Hollywood Beach Golf Courses
- Art and Culture Center/Hollywood Multidisciplinary Arts Education Center
- ArtsPark at Young Circle Improvements
- Renovation of former Armory Building into Indoor Sports Facility
- Recreational Facilities and Sports Fields
- Neighborhood Sound Walls and Landscaping
- Gateway and Neighborhood Monument Signs
- Sea Walls and Tidal Flooding Mitigation
- Hardening of Utilities in North Beach
How were projects selected?
Projects were selected based on:
◦ Public input – community meetings, advisory boards, commission meeting comments, community surveys
◦ Parks Master Plan development process
◦ District Commissioner input
◦ Needs Assessments
◦ Strategic planning process
How are improvement projects funded?
The GO Bond improvement projects were funded through a General Obligation Bond (GO Bond). A GO Bond is one way cities fund major construction projects such as roads, parks, drainage, and/or buildings. They are backed by the full faith and credit of the City. The GO Bond will be a 25 year bond that would be repaid through an additional percentage on your property tax bill. General Obligation Bonds require voter approval. All the money will be spend right here in Hollywood.
Why was a General Obligation Bond proposed?
The City of Hollywood maintains more than 85 facilities and parks, 400+ miles of streets and alleys, 301 miles of sidewalks and 5+ miles of beach. Each year the City adopts a 5-year plan to address large scale maintenance projects, renovations and construction of new facilities. This allows the City to plan funding for maintenance of its basic infrastructure such as street resurfacing, sidewalk repair, facility upkeep, etc. After more than a year of public input, needs assessments, and cost analysis, many significant projects in all areas of the City were identified as important to improve the safety and quality of life for Hollywood residents. GO Bonds are a cost-effective way for cities to pay for major projects like these.
The City uses various sources of funding to pay for the projects. Such funding sources include:
• Debt Financing (borrowing money)
• Permit Fees
• Charges for Services
• State and Federal Grants
Even with these sources of revenue, the City currently does not have available funds to complete many proposed improvement projects. Debt financing has been the primary mechanism for paying for large, City-wide projects. The interest and principal (debt service) on debt financed projects is repaid by the General Fund Operating Budget over a period of time. The City has the ability to pay for debt financing but, if you add in paying for the annual debt service too, that figure limits the amount of funding available for capital improvement projects in any one year. Bond financing allows cities to spread the cost for large projects out over many years.
When can I see the results?
Bonds are typically issued 3 to 6 months after voters have approved the referendum. While smaller projects will get underway quickly, the first wave of large-scale projects are expected to take approximately three years including design and construction. View the latest project updates here.
The bonds will be issued in two phases: Phase 1 of $70 million dollars was issued in September 2019, and will fund the majority of the GO Bond projects. The Phase 2 issuance of the remaining $95 million dollars is planned for 2021 and will fund construction of the new police headquarters and the Orangebrook Golf and Country Club Revitalization project.
What areas will be impacted in Hollywood?
All areas of the City will see improvements.
Who do I call to talk to about the General Obligation Bond improvement projects?
Please call the Department of Design and Construction Management at 954.921.3410.