City Will Refinance Debt to Fill $85.1M Budget Gap, Johnson Says

City Will Refinance Debt to Fill $85.1M Budget Gap, Johnson Says

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Mayor Brandon Johnson says 2026 budget gap to be closed with debt refinancing

Mayor Brandon Johnson said he would fill most of a projected $85.1 million shortfall in the 2026 budget by refinancing between $500 and $525 million in bonds.

Mayor Johnson plans to refinance debt to fix $85M budget hole

<p>Mayor Brandon Johnson says the city will refinance up to $525 million in debt to dig itself out of a now $85.1 million budget hole caused by a slew of so-far-fruitless revenue streams passed in the City Council’s spending plan.</p><p>Johnson had repeatedly warned of a $130 million hole in the City Council-crafted budget, but he said Tuesday that deficit has shrunk due to better-than-expected returns in other areas. The debt refinancing will s…

Johnson Announces Plan To Plug $85M Budget Gap As He Blasts Council-Backed Spending Plan

Mayor Brandon Johnson's administration hopes to close a lingering 2026 budget gap by refinancing bonds and possibly dipping into remaining COVID relief dollars.