RALEIGH — The Local Government Commission approved significant bond packages for North Carolina’s biggest city and second-largest county.
Charlotte secured approval for $400 million in general obligation bonds to address transportation, housing and neighborhood improvements.
The package includes $238 million for transportation projects such as street resurfacing and congestion mitigation, $100 million for affordable housing initiatives and $61.7 million for neighborhood improvements, including sidewalks and bike paths.
North Carolina State Treasurer Brad Briner, who chairs the Local Government Commission (LGC), announced in a press release that some of the bond proceeds will fund a program called Vision Zero, which aims to reduce traffic deaths.
The Charlotte bonds will be funded through an estimated property tax increase of .25 cents per $100 assessed value.
The commission approved $142 million in general obligation bonds in Wake County for library system improvements. The funds will support renovations of existing facilities, including the Richard B. Harrison and Green Road libraries and financed new construction projects, including a Rolesville library and a digital equity center. The library improvements will require a minimal tax increase of 0.00025 cents per $100 assessed value.
Additional LGC approvals included:
- Chapel Hill (Orange County): $44 million for affordable housing, fire stations, streets and parks (no tax increase)
- Union County: $39.4 million for school construction and renovation (0.8 cents tax increase per $100 valuation)
- Iredell County: $39 million for new Weathers Creek High School construction (no tax increase)
- Knightdale (Wake County): $14.5 million for public safety facilities consolidation
- Lexington (Davidson County): $3.9 million for Historic Dunbar School redevelopment
- Pamlico County: $3.7 million for middle/high school consolidation
- Black Mountain (Buncombe County): $500,000 for lead service line inspections
- Kannapolis (Cabarrus/Rowan counties): $1 million for lead service line inspections
