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.​

The 2020 GO Bond, which will occur on November 3, 2020, is the final bond of a four-bond package (2014, 2016, 2018 and 2020) that will complete "The Big Ideas."

​PROJECTS TO BE FUNDED WITH VOTER-APPROVED 2020 GO BONDS

The 2020 bond referendum totals $197,232,000 between three categories: Housing, Neighborhood Improvements and Transportation.

Affordable Housing Bonds - $50 million

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 - $44.5 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 2020 neighborhood improvement bonds

​This program makes strategic investments in larger, multi-neighborhood geographies to more comprehensively address an array of community needs. Learn more.

​This new program approaches investment and revitalization holistically to serve six corridors with tailored economic development strategies, placemaking and transportation improvements. Learn more.

Transportation Bonds - $102.732 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 2020 transportation bonds

​The city is currently undergoing a third-party assessment of all public rights-of-way for compliance with federal ADA standards. Once complete, this funding will be applied to prioritized projects that may pose barriers to ADA compliance. Learn more.

​Implements projects in the Charlotte BIKES plan to construct at least 10 miles of new bikeways each year. Learn more.

​Extends Bryant Farms Road by 0.4 miles to provide a critical east/west connection in the Ballantyne area. Learn more.

​This new program will implement small-scale, quick infrastructure projects to reduce congestion in Steele Creek, South Charlotte and University City. Learn more.

​Leverages state funding to improve the function of the intersection for all modes of transportation and to support economic development. Learn more.

​Provides pedestrian sidewalk and bicycle improvements throughout the Independence Boulevard corridor. Learn more.

​Improves Monroe Road between Briar Creek Road and Sharon Amity Road. Learn more.

​A collection of projects selected to improve pedestrian, bicyclist and motorist access to the LYNX Blue Line. Learn more.

​Provides for the timely inspection, repair and replacement of substandard bridges throughout the city. Learn more.

​Constructs 10 to 12 miles of new sidewalks and supports the city's goal of constructing 15 new pedestrian crossings per year. Learn more.

​Supplements the state's Powell Bill funding so the city can resurface more lane miles per year. Learn more.

​Provides funding for scheduled maintenance and replacement of obsolete traffic control devices such as traffic signals and signs. Learn more.

​Provides wiring for traffic signal coordination, cameras and computers for real-time traffic surveillance, traffic counts and travel speed data to system operators. Learn more.

​Strategy to eliminate all traffic-related deaths and severe injuries while increasing safety, health and mobility for all. Learn more.

​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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