El Paso City Council Approves New Community Progress Bond Funding

The $70 million issuance will support major projects while creating opportunities to save through refinancing and early debt payoff.

Apr. 15, 2026 at 2:53pm

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A serene, cinematic painting of a solitary city street lamp post bathed in warm, diagonal sunlight and deep shadows, conveying a contemplative mood about urban infrastructure investment.The strategic management of El Paso's Community Progress Bond funds aims to balance necessary infrastructure improvements with long-term fiscal responsibility.El Paso Today

The El Paso City Council unanimously approved another round of funding tied to the city's voter-approved $272 million Community Progress Bond. This includes a $70 million issuance that will support improvements to streets, parks, and renewable energy infrastructure, as well as opportunities to save money through refinancing older bonds and paying off debt early.

Why it matters

The Community Progress Bond was approved by El Paso voters in 2022 to address key infrastructure needs across the city. This latest round of funding will allow the city to continue making progress on those projects while also taking advantage of favorable market conditions to reduce the overall cost to taxpayers.

The details

The $70 million issuance is part of the $272 million Community Progress Bond. The funded projects include roadway repaving, extensions of Redd and Montwood, shade improvements at parks, and implementing green infrastructure. In addition, the city is looking to refinance older bonds at lower interest rates and pay off some debt early, which is expected to save around $13 million and over $400,000 in interest, respectively.

  • The Community Progress Bond was approved by El Paso voters in 2022.
  • The City Council unanimously approved the latest round of funding on April 15, 2026.

The players

El Paso City Council

The governing body of the City of El Paso that unanimously approved the new Community Progress Bond funding.

Robert Cortinas

The City of El Paso's chief financial officer and deputy city manager, who discussed the savings opportunities from refinancing and early debt payoff.

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What they’re saying

“We don't always have an opportunity like this one. This is a pretty large refinancing or savings opportunity that we have in front of us.”

— Robert Cortinas, Chief Financial Officer and Deputy City Manager, City of El Paso

“We're always looking at how we can not only take advantage of those situations but also look at how we can utilize paying off some debt early using some other tools that may be available to us.”

— Robert Cortinas, Chief Financial Officer and Deputy City Manager, City of El Paso

What’s next

The projects funded through the $272 million Community Progress Bond are expected to be completed within the next 10 years.

The takeaway

El Paso's City Council is taking a proactive approach to managing the Community Progress Bond funding, not only investing in critical infrastructure projects but also finding ways to save taxpayer money through strategic refinancing and early debt payoff. This demonstrates the city's commitment to fiscal responsibility while delivering on voter-approved improvements.