Voters in Cutler Bay are getting a say on the purchase of land and construction of new town facilities.

The mail-in referendum asks to borrow $40 million in one general obligation bond or a series of them to be repaid with property taxes over 30 years.

Cutler Bay would use the money to buy land and develop parks, public spaces, facilities and economic development projects.

One of the targeted properties is an 18-acre vacant lot northeast of Old Cutler Road and Southwest 212th Street. The town already has letter of intent for the purchase of the property, which is part of a larger 30-acre vacant parcel known as the Potato Field.

The town would acquire other property as well and draw a master plan for development once it buys land to determine exactly what it would build on the various parcels.

Town officials also would seek community input after the land purchase, according to a bond information document the town has provided.

This much is sure: The town cannot spend the money to upgrade existing parks and infrastructure or for day-to-day operating expenses, such as salaries.

A $40 million bond issue this year would cost the owner of the average home with a homestead exemption a maximum of $124 annually, according to the town. It's unlikely, however, that homeowners would pay this much since the town would likely borrow the money in smaller chunks.

Owners of residential and commercial property can visit http://cutlerbaygobond.org/ and use the tax calculator tool to determine what their tax bill could be based on their property's value.

The ballots were mailed May 16 and are due by 7 p.m. June 5. Voters can mail back their ballots in the envelopes provided or drop them off at the Miami-Dade County Elections Department at 2700 NW 87th Ave. in Doral.

A public information session on the proposed bond measure will be held at 7 p.m. Tuesday at Town Hall at 10720 Caribbean Blvd.