Charlotte Future

​City Bonds

General Obligation Bonds are the primary sources of funding for many projects that allow the city to keep pace with an expanding population, replacing aging infrastructure and improving quality of life. Bonds allow the city to pay for projects over a longer period of time and must be approved by voters.

Funding for the current CIP is proposed to occur over four bond cycles; previous voter-approved bonds in 2014 and 2016 and future bonds in 2018 and 2020.​

 

 

Applied Innovation Corridor14300Providing infrastructure investments to spur economic growth and facilitate recruitment of high-tech industries9/20/2016 2:04:48 AMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/aic.png, /charlottefuture/CIP/Site%20Assests/promoted-link-images/aic.pnghttp://authoring.charlottenc.gov/charlottefuture/CIP/aic/, Applied Innovation CorridorNo
Comprehensive Neighborhood Improvement Program (CNIP)14312CNIP makes strategic investments in larger, multi-neighborhood geographies to more comprehensively address a broad array of community needs, consistent with the goals of the city’s CIP.3/1/2017 2:46:11 AMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/CNIP/Site%20Assests/WestCNIP.png, /charlottefuture/CIP/CNIP/Site%20Assests/WestCNIP.pnghttp://authoring.charlottenc.gov/charlottefuture/CIP/CNIP/, Comprehensive Neighborhood Improvement Program (CNIP)No
Cross Charlotte Trail1430530+-mile trail and greenway facility that will stretch from Cabarrus County to the South Carolina state line4/21/2017 12:53:53 PMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/XCLT%20image.jpg, /Projects/PublishingImages/XCLT%20Header%20Image.jpghttp://authoring.charlottenc.gov/charlottefuture/CIP/Pages/CrossCharlotteTrail.aspx, Cross Charlotte TrailNo
Dixie Berryhill Area Roads14299Support and promote economic development and job growth around the Airport Intermodal Facility as well as provide needed access and improvements to underdeveloped land west of the Airport and I-4859/19/2016 12:35:13 AMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Pages/dixieberryhill.aspx, Dixie Berryhill Area RoadsNo
Housing Diversity14311Designed to create mixed-income communities by providing a continuum of housing needs from supportive housing to maintaining homeownership.9/19/2016 12:35:49 AMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/housing.png, /charlottefuture/CIP/PublishingImages/charlotte-web.pnghttp://authoring.charlottenc.gov/charlottefuture/CIP/Pages/Housing-Diversity.aspx, Housing DiversityNo
I-85 North Bridge14323Bridge over I-85 that will connect Research Drive to J.W. Clay Boulevard9/19/2016 12:36:33 AMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/85NorthBridge.png, /charlottefuture/CIP/Site%20Assests/promoted-link-images/85NorthBridge.pnghttp://authoring.charlottenc.gov/Projects/Pages/I85NorthBridge.aspx, I-85 North BridgeNo
Idlewild, Rama and Monroe Rd Intersection14321Identify improvements at the Idlewild/Rama/Monroe intersection to enhance conditions for all users, including pedestrians, bicyclists, transit users and motorists.3/9/2017 7:51:12 PMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/idlewild.png, http://charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/idlewild.pnghttp://authoring.charlottenc.gov/Projects/Pages/IdlewildMonroeIntersection.aspx, Idlewild Road / Monroe IntersectionNo
Independence Area Sidewalk and Bikeway Improvements14322Providing pedestrian sidewalk and bicycle improvements throughout the Independence Boulevard corridor.​9/19/2016 12:43:31 AMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/bikeway.png, /charlottefuture/CIP/Site%20Assests/promoted-link-images/bikeway.pnghttp://authoring.charlottenc.gov/Projects/Pages/IndependenceSidewalkBikeway.aspx, Sidewalk and Bikeway ImprovementsNo
Land Acquisition and Street Connections14310Implement the Independence Boulevard Area Plan in order to promote economic development along the Independence Boulevard corridor.1/10/2017 9:12:58 PMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Pages/LandAcquisition.aspx, Land Acquisition and Street ConnectionsNo
Monroe Road Streetscape14319Improvements to Monroe Road between Briar Creek and Sharon Amity Road9/19/2016 12:30:37 AMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/monroe.png, /charlottefuture/CIP/Site%20Assests/promoted-link-images/monroe.pnghttp://authoring.charlottenc.gov/projects/Pages/MonroeStreetscape.aspx, Monroe Road StreetscapeNo
Neighborhood Transportation Programs14301Through its projects, the program can positively impact traffic safety, traffic congestion, bicycle safety and mobility, and traffic calming both in neighborhoods and on thoroughfares.9/15/2016 9:23:27 PMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/bikelane.png, http://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/bikelane.pnghttp://authoring.charlottenc.gov/charlottefuture/CIP/Pages/NeighborhoodTransportationProgram.aspx, Neighborhood Transportation ProgramsNo
Northeast Corridor Infrastructure (NECI)14325NECI is a collection of projects selected to improve pedestrian, bicyclist and motorist access to the CATS Blue Line Extension.9/13/2016 2:33:56 PMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/neci.png, http://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/neci.pnghttp://authoring.charlottenc.gov/charlottefuture/CIP/NECI/, Northeast Corridor Infrastructure (NECI)No
Park South Drive Extension14303Extend Park South Drive as a two-lane street from Fairview Road to a new roundabout at Carnegie Boulevard and will extend the existing eastbound left-turn lane on Fairview Road. 9/13/2016 2:54:29 PMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/Projects/Pages/ParkSouthExtension.aspx, Park South Drive ExtensionNo
Public Private Redevelopment14320Promote economic development along the Independence Boulevard Corridor by implementing the Independence Boulevard Area Plan.9/13/2016 2:56:04 PMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Pages/PublicPrivateRedevelopment.aspx, Public Private RedevelopmentNo
Repair and Replace Bridges14309Provides for the timely inspection, repair, and replacement of substandard bridges throughout the City.9/7/2016 1:17:26 AMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/Bridge.png, http://authoring.charlottenc.gov/charlottefuture/CIP/PublishingImages/Pearl%20Park%20Way%20Bridge%20photo-%20web.jpghttp://authoring.charlottenc.gov/charlottefuture/CIP/Pages/BridgeRepairs.aspx, Repair and Replace BridgesNo
Sidewalk and Pedestrian Safety14306Construct 10 to 12 miles of new sidewalks and to support the City’s goal of constructing 15 new pedestrian crossings per year.9/15/2016 6:33:01 PMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/pedestrian1.png, http://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/pedestrian.pnghttp://authoring.charlottenc.gov/charlottefuture/CIP/Pages/SidewalkandPedestrianSafety.aspx, Sidewalk and Pedestrian SafetyNo
Southend Pedestrian/Bicycle Connector14304Construct a signalized pedestrian connection across the light rail tracks between New Bern Station and East/West Station9/15/2016 9:34:52 PMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Pages/Southend-Connector.aspx, Southend Pedestrian/Bicycle ConnectorNo
Upgrade Traffic Control Devices14308This program provides funding for scheduled maintenance and replacement of obsolete traffic control devices, such as traffic signals and signs.9/19/2016 12:31:15 AMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/traffic-devices.png, /charlottefuture/CIP/Site%20Assests/promoted-link-images/traffic-devices.pnghttp://authoring.charlottenc.gov/charlottefuture/CIP/Pages/TrafficControlDevices.aspx, Upgrade Traffic Control DevicesNo
Upgrade Traffic Signals14307This program provides wiring for traffic signal coordination, cameras and computers for real-time traffic surveillance, traffic counts, and travel speed data to system operators.9/19/2016 1:30:19 AMhttp://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttp://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/Monitoring-traffic.png, http://charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/Monitoring-traffic.pnghttp://authoring.charlottenc.gov/charlottefuture/CIP/Pages/TrafficSignalCoordination.aspx, Upgrade Traffic SignalsNo

​Keeping pace with an expanding population, replacing aging infrastructure and improving quality of life often emerge as major factors that drive the City of Charlotte bond program. Transportation projects such as new roads and sidewalks, neighborhood improvements like curb and gutter, and economic development projects like affordable housing are just a few of the projects funded by (General Obligation) bonds approved by Charlotte voters in the last few years. Constructing these bond financed projects ensures a stable quality of life in our city and makes Charlotte a better place to live.

​A General Obligation bond is a financing tool similar to a home mortgage that the City uses to finance large capital projects over a 20-year period.

​The City's credit rating is "AAA," the highest rating a city can receive from national rating agencies. This makes bonds a low risk investment for lenders and also provides the City with a low interest rate.

​The City's capital needs exceed the ability to fund these projects on a "pay as you go basis." Bonds allow the City to pay for projects over a longer period of time. Typically the City asks voters to authorize bonds for major projects or package of several similar projects.

  1. Projects are compiled from the City's Capital Budget or Community Investment Plan (CIP), a five-year infrastructure plan that matches the City's highest priority capital needs with a financing schedule.
  2. City staff recommend projects to Council for inclusion in the bond package. Their recommendations are based on feasibility and cost effectiveness.
  3. City Council reviews the list, often making additions or deletions and approves a final list of projects for inclusion into bond package(s), to be placed on the ballot.

Projects are selected from the City's Capital Budget or Capital Investment Plan. These plans include investments in neighborhoods, housing and roads.

Voter approval of the bond packages only authorizes funding for the project. There are several crucial steps that must occur before construction:

  • planning
  • project design (which includes public input)
  • Acquisition of land
  • Solicitation of construction bids

Depending on the project, this process may take several months or several years to complete.

​In the case of projects that fulfill a critical need, some design may occur before bonds are approved. However, in most cases, work starts after bond approval to ensure the most prudent use of resources, and because the City does not assume voters will approve all bonds on the ballot.

​If an assessment determines that certain infrastructure needs that would be fulfilled by a project are too important, Council may fund projects through other sources. However, if funding is not available, the projects are held for inclusion into future bond packages.

​After a contract is award to the lowest responsible bidder, the residents in the vicinity of the construction site are notified of when construction is expected to begin and end.  For large projects the City will often develop printed materials, - such as newsletters, develop a web presence, hold public meetings, and work with the local news media to keep the public informed.

​Here are some of the ways:

  • At the initial public meeting, the City asks residents and business owners what issues should be addressed as the plan is developed for the project.
  • The preliminary design is presented and discussed at future public meetings.
  • The final design includes details of the project including the impact on the environment, motorists, transit, homes and businesses.
  • Once construction is underway, a City inspector will either remain on-site full time or make daily visits to the project.
  • Work of multiple agencies, such as Charlotte Water, Storm Water and Engineering & Property Management are coordinated to minimize the impact of disruption on the community.