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 City Council of the City of Charlotte, North Carolina (the “City”) introduced the following bond order of the City at its August 28, 2023 meeting: “BOND ORDER AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $235,000,000 GENERAL OBLIGATION REFUNDING BONDS OF THE CITY OF CHARLOTTE, NORTH CAROLINA” related to a proposed refunding of certain general obligation bonds of the City. Section 159-55.1 of the General Statutes of North Carolina requires the City’s finance officer to file with the City Clerk after the bond order is introduced and before the public hearing, and to post on-line on the City’s website, a statement of disclosures stating the following: (1) an estimate of the total amount of interest that will be paid on the general obligation bonds over the expected term of the bonds, if issued, and a summary of the assumptions on which the estimate is based, (2) an estimate of the increase in property tax rate, if any, necessary to service the proposed debt, and (3) the amount of two-thirds bonds capacity the unit has available for the current fiscal year, if any.

Statement of Disclosure(PDF, 115KB)

Projects Funded with Voter-Approved 2022 GO Bonds

The 2022 bond referendum totals $226,000,000 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 - $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. 

Corridors of Opportunity

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

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Workforce and Business Development

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.

Bicycle Travel

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

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Bridge Repair and Replacement Program

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

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Bryant Farms Road Extension

Extend Bryant Farms Road by 0.4 miles to provide an east/west connection in Ballantyne

Bond type: Transportation
Bond years: 2018 and 2020

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Congestion Mitigation

Small-scale, quick infrastructure projects that reduce congestion in Steele Creek, South Charlotte and University City

Bond type: Transportation
Bond year: 2020

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Eastway Drive/Shamrock Drive Intersection

The Eastway Drive/Shamrock Drive/Frontenac Drive intersection is part of the high injury network, and a redesign of the intersection is important to reduce the number of crashes and protect drivers, pedestrians, and bicyclists. The project will also add a multi-use path along Eastway Drive, buffered bike lanes, sidewalks, and a planting strip on Shamrock Drive that will tie into the Shamrock Drive Streetscape project.

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Housing Diversity

Creates mixed-income communities by providing housing needs that range from supportive housing to maintaining homeownership

Bond type: Housing
Bond years: 2014, 2016, 2018 and 2020

Northeast Corridor Infrastructure (NECI)

Pedestrian, bicycle and motorist access to the northern end of the LYNX Blue Line

Bond type: Transportation
Bond years: 2014, 2016, 2018 and 2020

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Read Road Widening

The Rea Road Widening project will extend a third southbound through lane from the I-485 off-ramp to Williams Pond Ln, the northbound lane from just south of Ballantyne Commons Parkway to I-485, as well as add left and right turn lanes.

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Sidewalk and Pedestrian Safety

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

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Street Resurfacing

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

Bond type: Transportation
Bond year: 2020

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Upgrade Traffic Control Devices

Provides funding for schedule maintenance and replacement of obsolete traffic control devices like traffic signals and signs

Bond type: Transportation
Bond years: 2014, 2016, 2018 and 2020

 

Upgrade Traffic Signals

Provides wiring for traffic signal coordination, cameras and computers for real-time traffic surveillance, traffic counts and travel speed data

Bond type: Transportation
Bond years: 2014, 2016, 2018 and 2020

 

Vision Zero

A strategy to eliminate all traffic-related deaths and severe injury while increasing safety, health and mobility for all

Bond type: Transportation
Bond years: 2018 and 2020

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