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Hemisfair

San Antonio’s Proposed 2027 Bond: $442 Million, No New Tax Hike—and Big Stakes

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San Antonio City Manager Erik Walsh has proposed a $442 million bond program for fiscal years 2027–2032, a relatively small package that staff say the city can support without another property-tax rate increase. Some council members want a larger program to cover more infrastructure needs, which Walsh said would require another rate increase. The amount, project list and election date are still unsettled: this is a proposal, not an approved bond or final ballot measure.

How much is San Antonio’s next bond?

Walsh briefed City Council on September 30, 2026, proposing $442 million for the six-year FY 2027–2032 program. The San Antonio Current described it as the smallest city bond in more than two decades. The figure is the city manager’s proposal, not a final total approved by council or voters. San Antonio Current, October 1, 2026.

The scale matters because city staff have a much longer list of potential work. The Current reported that Walsh presented a roughly $5 billion infrastructure wish list that could be addressed through bond funding. That is an account of potential projects, not a final needs assessment or an approved, fully costed plan. A $442 million proposal would leave many items outside the package.

Will the bond raise property taxes?

Staff presented the $442 million proposal as affordable without another property-tax rate increase. Walsh characterized that scale as “what the city can afford,” as reported by the Current. Some council members want a larger package to address more projects; Walsh said that would require another rate increase. The debate is therefore about both which projects make the final list and how much additional cost residents could be asked to support. San Antonio Current.

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The Current reported that some members representing lower-income districts favor addressing more needs. A larger program could cover more work, but its tax implications would have to be considered alongside the projects. No final package or tax decision had been made as of October 3, 2026.

What does the bond have to do with the Spurs arena?

The proposed bond includes $35 million for infrastructure improvements around Hemisfair, near the site of a proposed Spurs arena. Walsh said those improvements must be completed for the arena to proceed. The bond would fund infrastructure, not arena construction itself. The arena is part of Project Marvel, reported as a proposed $4 billion sports and entertainment district. San Antonio Current, October 1, 2026.

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City officials hope the Texas Department of Transportation will contribute $85 million toward downtown improvements, including work around Hemisfair, but the city and TxDOT had not reached an agreement at the time of Walsh’s briefing. That hoped-for support is not a committed funding source, and it should not be added to the proposed $35 million as though the two figures form a settled project budget. San Antonio Current.

The figures also reflect a changing project picture. The Current reported that Hemisfair infrastructure had previously been estimated at about $220 million. It also reported that the city removed a planned $85 million Alamodome parking garage from Project Marvel. The presentation did not clarify how, or whether, the parking need would be addressed. San Antonio Current.

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How does the proposal compare with other city capital spending?

Bond programs are only one part of San Antonio’s infrastructure spending. The City’s prior bond and current capital plan provide context, but neither is the same thing as the proposed FY 2027–2032 bond.

Program Amount and scope Status or distinction
2022–2027 bond $1.2 billion across 187 projects Voters approved it on May 7, 2022. The City reported 72% complete or under construction as of June 2026. City of San Antonio
FY 2026–2031 Capital Improvements Program $4.1 billion across 327 projects A broader six-year capital plan, not the proposed bond total. City of San Antonio Office of Management and Budget
Proposed FY 2027–2032 bond $442 million proposed City manager’s proposal briefed September 30, 2026; not yet approved or placed on a final ballot. San Antonio Current

The 2022 bond covered six propositions: streets, bridges and sidewalks; drainage and flood control; parks and recreation; library and cultural facilities; public safety facilities; and affordable housing. Those categories help explain the breadth of bond-funded work, but the project list for the proposed program has not been finalized. City of San Antonio Office of Management and Budget.

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When will San Antonio vote on the bond?

A public vote could take place in May or November 2027, depending on when council puts a final measure on the ballot. Council was expected to discuss the proposal again on October 14, 2026; neither that next step nor a 2027 election date makes the eventual ballot contents certain. San Antonio Current.

If voters reject the bond, Walsh said the city would “have to reexamine where we’re at with the whole thing.” That describes the consequence he identified for the broader Hemisfair and arena-related plan; it does not mean the bond itself is a vote on arena construction. San Antonio Current.

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What remains undecided?

As of October 3, 2026, the proposal still left several consequential decisions open:

  • The final bond amount and which neighborhood and citywide projects it would cover.
  • Whether council chooses a May or November 2027 election, or another timing decision.
  • Whether TxDOT agrees to contribute toward downtown improvements.
  • How the city would address the parking need after the planned Alamodome garage was dropped.
  • Whether the proposed Hemisfair infrastructure work and the broader Project Marvel plan proceed as described.

These decisions connect the citywide question of infrastructure priorities to the more specific debate over work near Hemisfair. Residents will be weighing a package staff say avoids another rate increase against the projects left out if the bond stays at its proposed size.

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