Charlotte Future

​CITY BONDS

General Obligation (GO) Bonds are the primary source of funding for many projects that allow the city to keep pace with an expanding population by 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.​

PROJECTS TO BE FUNDED WITH VOTER-APPROVED 2022 GO BONDS

The 2022 bond referendum totals $226,000,000 between three categories: Housing, Neighborhood Improvements and Transportation.

Housing bonds fund the city’s Housing Diversity Program to increase the supply of safe, quality and affordable housing for low- and moderate-income residents throughout Charlotte. The Housing Diversity Program not only addresses the​ need for new construction, it also helps preserve existing housing through rehabilitation of both single- and multifamily housing units.  This funding leverages other public, private and nonprofit dollars to increase the supply and accessibility of housing in the community.



Neighborhood Improvement Bonds - $29.8 million

Neighborhood improvement bonds fund projects that address infrastructure needs in the city’s established neighborhoods and emerging high-growth areas. They support a network of streets, sidewalks, greenways and bike lanes to better connect neighborhoods with major employment, institutional and retail areas.​ 

Projects funded with voter-approved 2022 neighborhood improvement bonds


​Supports economic development partnerships, including Ballantyne Infrastructure, Centene Development, Innovation District Infrastructure for Atrium, and Public/Private Partnerships for 7th and North Tryon


Transportation Bonds - $146.2 million

In a growing city like Charlotte, it is critical to provide safe, convenient and reliable transportation options. Investments are intended to increase overall mobility by providing transportation choices, promoting access to transit and major transportation routes and improving connectivity within and between communities. With that in mind, the Capital Investment Plan will continue investing in transit access, bridges, trails, sidewalks and streets.​​

Projects funded with voter-approved 2022 transportation bonds

​This is a new initiative in the 2022 Bond that dedicates funding to street lighting, which is a key Vision Zero strategy helping to make the city's transportation system as safe as possible for all users. The 2022 Bond funding will be used to implement new street lighting projects along high-injury network streets or to enhance existing street lighting by converting existing lights to LED, which increase visibility and improve safety, in addition to providing environmental sustainability benefits. 

​Additional resources

​Bond FAQs

The Charlotte that we enjoy today is due to the investments we made in the past. The city we will enjoy in the future will come from investment we make today. Meeting Charlotte's infrastructure needs is vital to our region's health and sustaining our reputation as a great place to live, work and play.

No. The financing costs for these bonds are included in the current city budget. No additional property tax increase will be required to pay for these bonds.

Bond projects are selected using a three-step process

  1. Projects originate from many sources including City Council Strategic Priorities, Adopted Action Plans and Master Plans, resident requests, community engagement and staff analysis.

  2. City staff prioritize and 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.

After a contract is awarded to the lowest responsible bidder, residents in the vicinity of the construction site are notified when construction is expected to begin and end. For large projects, the city will often develop materials such as a project website, postcards and newsletters to distribute. The project team may also 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 General Services are coordinated to minimize the impact of disruption on the community.

​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.

​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.

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)

  • Real estate acquisition

  • 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.

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Comprehensive Neighborhood Improvement Program (CNIP)354582Strategic investments in larger, multi-neighborhood areas to address a broad array of community needs9/22/2020 9:29:32 PMhttps://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttps://authoring.charlottenc.gov/charlottefuture/CIP/CNIP/Site%20Assests/WestCNIP.png, /charlottefuture/CIP/CNIP/Site%20Assests/WestCNIP.pnghttps://authoring.charlottenc.gov/charlottefuture/CIP/CNIP/, Comprehensive Neighborhood Improvement Program (CNIP)No
Corridors of Opportunity11642​Serving six corridors with tailored economic development strategies, placemaking and transportation improvements9/22/2020 9:31:12 PMhttps://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttps://authoring.charlottenc.gov/corridorsofopportunity/Pages/default.aspx, Corridors of OpportunityNo

 

 

ADA in Rights-of-Way11640​Assessment and prioritization of projects designed to enhance ADA compliance in public rights-of-way. 9/22/2020 9:24:44 PMhttps://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttps://authoring.charlottenc.gov/crc/ServicesPrograms/Pages/ADA.aspx, https://authoring.charlottenc.gov/crc/ServicesPrograms/Pages/ADA.aspxNo
Bicycle Travel354591Projects in the Charlotte BIKES plan to build at least 10 miles of new bikeways each year9/22/2020 9:26:38 PMhttps://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttps://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/bikeplan.png, /charlottefuture/CIP/Site%20Assests/promoted-link-images/bikeplan.pnghttps://authoring.charlottenc.gov/Transportation/Programs/Pages/Bicycle.aspx, /Transportation/Programs/Pages/Bicycle.aspxNo
Bridge Repair and Replacement354579Provides for the timely inspection, repair and replacement of substandard bridges throughout the City.7/27/2022 8:32:02 PMhttps://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttps://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.jpghttps://authoring.charlottenc.gov/charlottefuture/CIP/Pages/BridgeRepairs.aspx, Repair and Replace BridgesNo
Bryant Farms Road Extension373828Extend Bryant Farms Road by .4 miles to provide an east/west connection in Ballantyne.9/22/2020 9:28:41 PMhttps://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttps://authoring.charlottenc.gov/Projects/Pages/BryantFarms.aspx, /Projects/Pages/BryantFarms.aspxNo
Congestion Mitigation373830Small-scale, quick infrastructure projects that reduce congestion in Steele Creek, South Charlotte and University City.9/22/2020 9:30:01 PMhttps://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttps://authoring.charlottenc.gov/Transportation/Programs/Pages/CongestionMitigation.aspx, /Transportation/Programs/Pages/CongestionMitigation.aspxNo
Idlewild, Rama and Monroe Rd Intersection354593Improvements at the Idlewild/Rama/Monroe intersection that enhance conditions for pedestrians, bicyclists, transit users and motorists.9/22/2020 9:34:04 PMhttps://charlottenc.gov/charlottefuture/CIP/Lists/Projects/AllItems.aspxFalsehttps://authoring.charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/idlewild.png, http://charlottenc.gov/charlottefuture/CIP/Site%20Assests/promoted-link-images/idlewild.pnghttps://authoring.charlottenc.gov/Projects/Pages/IdlewildMonroeIntersection.aspx, Idlewild Road / Monroe IntersectionNo