New Orleans bond vote: What $510M would pay for

By Carlie Kollath Wells

Source: Axios

November 5, 2025

New Orleanians will vote Nov. 15 on bond measures to fix roads, improve drainage and expand affordable housing.

Why it matters: The city needs major repairs but is already stretched thin financially.

The big picture: The bond propositions would let the city borrow up to $510 million for long-term capital projects.

• The money would go toward a long list of items and can’t be reallocated to fix the city’s current budget crisis, leaders say.

By the numbers: The city would have 30 years to pay off the loans through a dedicated property tax.

• The city says the existing millage rate would continue so it wouldn’t increase bills for residents.
• The interest rate would be capped at 8%, but the exact rate won’t be known until the bonds are issued.
• Here’s a good explainer about what a bond is and how it works.

Flashback: Residents approved $500 million bonds in 2019 for infrastructure, housing and other capital projects.

• The money has been exhausted already, according to the nonpartisan Bureau of Governmental Research.
• Here’s what the city told BGR it used the bonds on.

Items on the ballot

🚧 City infrastructure: Would allow the city to borrow $415 million for streets, buildings, parks and more.

• Plus, it would pay for essential service vehicles and software and tech upgrades.
• Some of the money will be used to renovate the Municipal Auditorium, Lincoln Beach and Lindy Boggs Hospital, while also extending the Lafitte Greenway, the city’s flyer says.

⛈️ Drainage: Would raise $50 million for constructing, renovating and improving drainage and stormwater management systems and facilities.

• The city says projects include green infrastructure such as stormwater parks and neighborhood drainage studies to design future solutions.

🏡 Affordable housing: Would fund $45 million to construct, renovate, acquire and improve affordable housing facilities.

• The money would be managed through the city’s new Housing Trust Fund.
• This is the most controversial proposal, with BGR and the Greater New Orleans Housing Alliance criticizing it due to the lack of details, according to The Times-Picayune.

Zoom out: See the city’s full list of proposed projects.

What they’re saying

• Mayor-elect Helena Moreno endorsed all three proposals.
• BGR voting recommendations
• Antigravity voter recs

When to vote

What’s next: Early voting is open through Saturday.

• In-person is Nov. 15.
• See your sample ballot.
• Full election guide.

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