Shreveport considers bond to fund street repairs

Shreveport leaders are looking to address the crumbling streets across the city.

Councilman Michael Corbin wants to start using money from the Streets Special Revenue fund, which comes from the SWEPCO franchise fees citizens pay, to repair a stretch of Linwood Avenue.

"We've had staff tell us over and over that it is in the worst condition," Corbin said. "And I'd like to go ahead and get the engineering done so that when we do find a funding source, we're ready to move quickly."

The Streets Special Revenue Fund collects about $6 million per year. If the council continues tradition, that money would be split up between the seven council districts, leaving only enough for small residential street repairs.

So the mayor's office could soon propose a revenue-based bond issue to be paid off with the incoming franchise fee money.

Assistant CAO Brian Crawford says the city will never get around to fixing all the crumbling streets using the pay-as-you-go method.

"I see the same thing that you see and that the citizens see and they want the streets fixed," said Crawford. "So I think that between what the council is looking at now and what the administration has proposed in the past, I think that discussion is something that will continue."

If the city issues a revenue-based bond to tackle street repairs, it would only require council approval. In 2011 the council would not agree to letting the city get further into debt to address the street problems.