FOR IMMEDIATE RELEASE
Seth Kingdon
704-374-9300 x2222
Charlotte Voters to Consider Bonds to Fund Citywide Improvements on Nov. 8
Ballot measures for ongoing investments in transportation, housing and neighborhoods
CHARLOTTE, NC, DATE– Charlotte voters will consider a bond package on the Nov. 8 general election ballot worth a total of $218.44 million for making improvements to targeted transportation corridors and neighborhoods andbuilding more workforce housing.
The bonds will fund the latest phaseof the city’s Community Improvement Plan (CIP), a long-range capital investment program totaling more than $800 million to meet the infrastructure needs of the growing community. Voters approved a similar bond package in 2014 by wide margins, and the CIP anticipates two more bonds campaigns in 2018 and 2020.
Debt-financing charges are already part of the city’s budget, meaning approval will not result in a tax increase for Charlotte residents.
“The CIPfosters a more livable city by addressing housing needs, increasing connectivity,making infrastructure improvements and promoting economic development,” said Natalie English, Vote Yes For Bonds campaign manager. “When Charlotte voters say ‘yes’ to these bonds, they are literally laying the foundation formaking the city a better place to live and work, now and in the future.”
Thetransportationbonds of $148.44 millionwill fund street and intersection projects, upgrades to traffic control systems, construction and repairs to bridges, development of Cross Charlotte Trail (XCLT) and measures to improve pedestrian safety.
The housing referendumis for a $15 millionfunding to the Charlotte Housing Trust Fund (HTF), to leverage private investment dollars to provide affordable and well-maintainedhousing for low- and moderate-income individuals and families in Charlotte. Examples of completed projects include Dove’s Nest, Domestic Violence Shelter, The Retreat at Renaissance and Willow Oak Run Apartments.
The neighborhoodsbonds package worth $55 million, in accordance with the Comprehensive Neighborhood Improvement Program (CNIP), will fix infrastructure in established neighborhoods showing signs of distress and emerging high-growth areas in need of connectivity. Enhancements include sidewalks, streetscapes, curbs and gutters, storm drainage, landscaping and pedestrian lighting. The six neighborhoods slated for improvements on this year’s ballotare West Trade/Rozzelles Ferry, Prosperity Village, Central/Albemarle/Shamrock, Whitehall Ayrsley, Sunset/Beatties Ford and SouthPark.
For more information, please visit VoteYesForBonds.com.
###