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CHARLOTTE, N.C. (WBTV) - When Charlotte voters head to the polls, they will find three lengthy bond questions on the ballot.
Between the three bonds, the city is asking to borrow a record-setting $425 million to improve affordable housing, transportation services and neighborhoods infrastructure.
Officials said the city can afford the three proposed bonds because they are already included in the current budget. The bonds were not expected to increase tax rates.
Voting “yes” approves the city’s use of the bonds and a “no” vote rejects that borrowing.
Here’s a breakdown of what you need to know before you head to the polls.
A general obligation bond allows the city to borrow money and repay it over time with interest -- similar to a home mortgage.
Voters can approve or reject the city’s use of bonds, which are repaid using a mix of sales tax, property tax and local sources, according to the city of Charlotte’s website.
Officials said the proposed bonds were included in the current budget and property tax rate, so approval would not increase the tax-rate.
The ballot language does specify that additional property taxes may be levied to repay the bonds, however, officials estimated a tax increase of $0 per year for each $100,000 of taxable property value.
This year’s bond package has drawn attention for its historic size as Charlotte works to keep pace with rapid growth.
If passed, the $280 million transportation bond and $125 million housing bond would be the largest of their respective types in the city’s history.
Charlotte voters approved a similar $400 million bond package with 67% of the vote in November 2024. The bond package also included transportation projects, neighborhood initiatives and housing efforts.
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Here’s a breakdown of the proposed bonds:
If approved, the bonds would fund improvements to streets, intersections, sidewalks, pedestrian and bicycle paths, drainage, traffic signals and other transportation infrastructure.
The estimated repayment is $437.1 million, including $157.1 million in interest.
City officials say the projects would improve access to major transportation and transit services and address gaps between communities. The proposed spending includes place-based projects and systemwide improvements.
The place-based program would support multimodal transportation for people walking, biking, driving and using transit.
For example, the city plans to spend $12 million from the bonds to improve the Eastway Drive and Shamrock Drive intersection in east Charlotte, with proposed sidewalks, paths, bike lanes and crosswalks.
The projects are part of Big Moves 2030, a city program to make transportation improvements by 2030.
The bonds also align with Charlotte’s Strategic Mobility Plan, adopted in 2022. The plan aims for half of commute trips to be made by a mode other than driving alone.
Proposed systemwide improvements include:
If approved, the bonds would fund housing projects for people with low or moderate incomes, including related infrastructure and land costs. Specific projects had not yet been identified, according to the city’s website.
The estimated repayment is $198.4 million, including $73.4 million in interest.
If approved, the bonds would fund neighborhood infrastructure, including sidewalks, drainage, street repairs, bicycle paths, lighting and public open space.
According to the city, the funding could also leverage private investment for road and transportation improvements near future private development.
The estimated repayment is $31.2 million, including $11.2 million in interest.
If voters did not pass the bonds, the city said it would either have to delay projects for a future bond package or, if the project is too important to delay, the city council would fund it using other sources.