CHARLOTTE, N.C. (WBTV) - The $197.2 million bond referenda package has passed in Mecklenburg County in the Nov. 3 election, according to the Charlotte Regional Business Alliance.
The bonds will fund construction and revitalization of transportation corridors including streets and sidewalks, more affordable housing, and improvements to neighborhoods in established and emerging high-growth areas.
“Tonight’s passing of the City bonds sends a clear message: Charlotte must continue making the necessary investments in our infrastructure. These bonds will provide funding for key projects that help with the city’s growth in vital areas. Voters' support for the 2020 bond referenda package shows our community is committed to creating a better future for our city,” said Alliance Senior Vice President, Government Affairs, Joe Bost. “This is a tremendous victory for our city and the greater region for sustaining Charlotte’s reputation as a great place to live, work and do business.”
All three bonds reportedly passed on the Nov. 3 ballot allocating $102.7 million for transportation, $50 million for affordable housing and $44.5 million for neighborhood improvements.
Money for these bonds is already approved within the city budget so there’s no tax increase if they pass.
The transportation bonds authorize $102 million for new and widened streets, upgrading traffic control systems, improving pedestrian safety, building bridges and better connecting neighborhoods to each other.
The housing bonds authorize $50 million to increase affordable housing for low and moderate-income residents and bridging funding gaps for projects aimed at ending homelessness in Charlotte.
The neighborhood improvement bonds authorize $44.5 million to help pay for capital costs and infrastructure improvements including sidewalks, landscaping and better lighting in Charlotte neighborhoods.
The 2020 bond referenda packages are the fourth to pass with similar bond packages passed in 2014, 2016 and 2018 by an average of more than 70%.