City Bond Approval Would Mean Millions in Funding for Streets, Housing and Neighborhood Infrastructu
When Charlotte voters head to the polls on November 4th, they will be asked to approve three referenda on the general election ballot authorizing the City to issue general revenue bonds worth $145.9 million.
Approval of these bonds will not result in additional tax increases for Charlotte residents, but will provide much-needed revenue to:
Upgrade and enhance streets and infrastructure ($110.96 million): Includes upgrades to traffic control system, repairs to and replacements of bridges, construction of new bridges, initial development of Cross Charlotte Multi-Use Trail and measures to improve pedestrian safety.
Build housing for low- to moderate-income individuals and families ($15 million): Would provide revenue for the Charlotte Housing Trust Fund, leveraging private investment dollars, to provide affordable and well-maintained housing for low- and moderate-income individuals and families in the Charlotte area.
Improve infrastructure in the city’s older neighborhoods and emerging high-growth areas ($20 million): Includes sidewalks, streetscapes, curbs and gutters, storm drainage, landscaping and pedestrian lighting in established neighborhoods showing signs of distress, and emerging high-growth areas in need of connectivity.
REBIC, the Charlotte Regional REALTOR® Association (CRRA), the Charlotte Commercial Board of REALTORS®, the Charlotte Chamber of Commerce and other local business and industry groups have endorsed the three bond referenda, and are working to ensure their passage on the November ballot.
Meeting Charlotte’s infrastructure needs is vital to our region’s economic development and future growth, and the passage of these bonds should be a priority for everyone in the real estate community. We ask all our members to VOTE YES for the Bonds when you go to the polls next month!
For more information on the City Bond campaign, including details on the improvements that will be funded if the referenda are approved, visit their website at www.VoteYesForBonds.com.