Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • How much tax will you pay on ₹2 lakh stock, mutual fund or crypto gains? | Personal Finance
    • Is Janus Henderson Global Life Science T (JAGLX) a Strong Mutual Fund Pick Right Now?
    • What happens to your mutual fund units if an AMC shuts down? Franklin Templeton and Morgan Stanley cases offer answers
    • Bank of India Mutual Fund’s Mohit Bhatia: Research, Risk Discipline And The Search For Sustainable Alpha In Indian Equities
    • Some Dividend Growth ETFs Are Beating the Broad Market — Is It Sustainable?
    • Rs 25,000 SIP During A Market Fall: How Much More Can You Buy With The Same Money?
    • 5 Reasons Your SIP May Not Be Working for You – Money Insights News
    • Bitcoin ETFs See $461M Outflows This Week With Zero Inflows
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Bonds»Salt Lake County bond on November ballots could cost property owners $60 a year
    Bonds

    Salt Lake County bond on November ballots could cost property owners $60 a year

    August 23, 2024


    Salt Lake County residents will vote this fall on a half-billion-dollar bond that would fund expanded mental health treatment and criminal justice reform.

    If approved, $507 million in general obligation bonds would create a new facility for low-level offenders, combine the two existing jails into one and provide more mental health resources at the Salt Lake County Jail.

    Repaying the bonds would cost property owners nearly $60 a year.

    In a statement, the Salt Lake County Council said the bond is part of a bipartisan effort across the county and state to address mental health services, housing and criminal justice reform.

    “We believe the public safety bond reduces the number of offenders on the streets,” the council said, “keeps our neighborhoods safer, protects our businesses, and ultimately is the most fiscally conservative way to invest in public safety and improve quality of life.”

    Under the plan, Oxbow Jail would close. The county’s other jail would be expanded to include more beds, an improved substance use disorder treatment unit and a transitional unit to prepare inmates to “rejoin society,” according to a county presentation on the bond.

    About $100 million will fund the planned Justice and Accountability Center for low-level offenders. The center would provide dedicated case workers, job training and employment services, mental health and substance use disorder treatment, and facilitate connections to housing options, according to the county council’s presentation.

    The Justice and Accountability Center would ultimately save the county money, according to the presentation.

    According to county estimates, housing an offender at the Justice and Accountability Center would cost Salt Lake County residents about $75 a day — roughly $60 less than keeping someone in jail.

    The Oxbow Jail’s demolition would cost about $10 million, but officials estimate the sale of the property would bring about $20 million in revenue that would be used for the total $627 million cost of the county’s public safety and criminal justice reform plan. Another $100 million in COVID-19 pandemic relief money would also chip away at that total price tag, leaving property owners to foot the bill for $507 million.

    Based on an average property value of $602,000, the bond would cost residents about $5 a month, or roughly $59 a year. Businesses would pay about $9 a month, or about $107 a year, according to the county council’s estimate.

    It’s an investment that Wilson says is worth it.

    “What we’re asking the public to approve is a revolutionary change to break the cycle of criminality and homelessness and put people on the path to self-reliance,” Wilson has said. “This bond is a key part of our plan to make homelessness brief, rare, and nonrecurring.”

    The full breakdown of the $627 million includes:

    • $90 million in necessary maintenance for the current jail facilities.

    • $427 million for the consolidation and expansion of the new, combined jail facility.

    • $100 million to establish the Justice and Accountability Center.

    • $10 million for demolition of the Oxbow Jail.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    Stocks and bonds are moving together. Here’s why you shouldn’t worry

    September 11, 2026

    Martin Lewis gives Premium Bonds £5,000 alert adding ‘little or nothing’

    September 11, 2026

    Why Do Pension Funds Hold Bonds in Their Portfolios?

    September 11, 2026
    Leave A Reply Cancel Reply

    Top Posts

    ETF Trading and Investment Strategies

    August 30, 2023

    How much tax will you pay on ₹2 lakh stock, mutual fund or crypto gains? | Personal Finance

    September 13, 2026

    Bonds Definition | What Does Bonds Mean

    September 7, 2010

    8 Charts on US Fund Flows: A Strong Start to 2026

    February 17, 2026
    Don't Miss
    Mutual Funds

    How much tax will you pay on ₹2 lakh stock, mutual fund or crypto gains? | Personal Finance

    September 13, 2026

    For investors, a ₹2 lakh gain does not necessarily mean a ₹2 lakh tax bill.…

    Is Janus Henderson Global Life Science T (JAGLX) a Strong Mutual Fund Pick Right Now?

    September 12, 2026

    What happens to your mutual fund units if an AMC shuts down? Franklin Templeton and Morgan Stanley cases offer answers

    September 12, 2026

    Bank of India Mutual Fund’s Mohit Bhatia: Research, Risk Discipline And The Search For Sustainable Alpha In Indian Equities

    September 12, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Explained: Why Sebi’s intraday borrowing rules for mutual funds don’t mean higher risk for investors

    June 25, 2026

    Jio BlackRock looks to AI, data analytics and low costs to gain in rapidly growing mutual funds industry- The Week

    September 23, 2025

    Judge Orders Trump Administration to Fund SNAP Amid Shutdown

    November 3, 2025
    Our Picks

    How much tax will you pay on ₹2 lakh stock, mutual fund or crypto gains? | Personal Finance

    September 13, 2026

    Is Janus Henderson Global Life Science T (JAGLX) a Strong Mutual Fund Pick Right Now?

    September 12, 2026

    What happens to your mutual fund units if an AMC shuts down? Franklin Templeton and Morgan Stanley cases offer answers

    September 12, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    🇮🇸 CPP Investments and Equinix complete atNorth acquisition to support growth of leading Nordic data center platform

    September 1, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.