The City of Santa Clara is set to embark on a significant financial initiative, with plans to issue bonds totaling approximately $100 million in 2026. This decision was discussed during the Bond Compliance Oversight Committee Meeting held on August 28, 2025. The total anticipated cost for the bond issuance and related closing costs is projected to reach $399,851,700, which includes a $2 million allocation specifically for these expenses.

The proposed project list associated with this bond issuance amounts to $996,634,500, representing about 25% of the total Measure I funds. The funding will be executed in phases, with the first tranche planned for 2026 and a second, larger tranche expected in 2028. These funds will facilitate the transition of several major projects from the study and design phases into construction.

Committee members emphasized the importance of understanding the terms "phase" and "tranche," noting that they refer to the same concept in financing—each phase of project funding corresponds to a tranche of bond issuance. This clarity is crucial as the city prepares to move forward with its ambitious project agenda.

As the meeting progressed, members reviewed the expenditure plan documents, which were distributed to ensure all participants could reference the financial details as discussions continued. The city anticipates additional bond sales beyond 2030 to support remaining projects, although these later phases are expected to be smaller in scale.

This financial strategy aims to enhance infrastructure and community services in Santa Clara, marking a pivotal step in the city's development plans. The committee's discussions underscore the city's commitment to transparency and effective management of public funds as they prepare for the upcoming bond sales.