Charlotte adds 3 questions to 2024 ballot. See why city wants to take on $400M in debt
Charlotte voters on Monday gained three new items on their November ballots.
The City Council on Monday approved a resolution to put $400 million in bond referendums on November ballots to pay for transportation, housing and neighborhood improvement projects. The $400 million amount will be split between three ballot questions.
Bond referendums like those on November’s ballot are regularly scheduled to allow the city to take on debt to pay for large projects over time. But this year’s proposed bond package is larger than those in previous years.
The proposal includes a $238 million transportation bond, which contains $50 million for sidewalks, $55 million for potential new projects and $20 million on Vision Zero, a program to reduce traffic fatalities. It also includes funding for congestion mitigation, street resurfacing and roads and intersections.
Under the proposed bond, housing projects serving people earning low and moderate incomes would receive an additional $100 million. Neighborhood improvement projects would receive an additional $61.7 million. These projects could include the renovation and installation of sidewalks, pedestrian and bike paths and traffic controls.
About $25 million of the neighborhood improvement bond would go toward Corridors for Opportunity, a city program to increase economic development in six under-invested areas.
The city is planning for both the 2026 and 2028 bonds to be worth $243.5 million, to accommodate the high cost of this year’s bond.
The Council voted 9-1 on Monday night to approve the bond orders for November ballots. Councilman Tariq Bokhari was the one dissenting vote, and there was no discussion about the agenda item.
This story was originally published June 26, 2024 at 6:00 AM.
