Voters approve $204 million in bonds

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Voters approve $204 million in bonds

By The Charlotte Observer – November 3, 2010

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By Steve Harrison
sharrison@charlotteobserver.com

Despite concerns over government spending, Charlotte voters appeared to approve three bond packages totaling nearly $204 million for transportation, neighborhood improvements and affordable housing.

With 156 of 168 precincts reporting, all three were leading by comfortable margins.

Bonds historically pass with wide margins in the city, but some proponents were worried this year because of the poor economy and concerns over governmental debt at all levels - local, state and national. The city of Charlotte has said the bonds won't require a property tax increase because it has already set aside money.

"I feel really good about what we were able to do," said Natalie English of the Charlotte Chamber and the group Vote Yes For Bonds. "We had hundreds of volunteers, and we were able to change people's minds when we explained the city has its house in order."

The biggest bond is $157 million for transportation. Much of that money will be for citywide projects such as building sidewalks, connecting streets, improving traffic signals and pedestrian crossings, and building bike lanes. The Charlotte Department of Transportation had also identified several roads and intersections that would be improved, such as Beatties Ford Road, Idlewild Road and Arrowood/Nations Ford roads.

Voters also favored $32 million in bonds for neighborhood improvements, including $7 million to help rebuild Boulevard Homes in west Charlotte.

The smallest bond is $15 million for affordable housing, which also includes some money to rebuild Boulevard Homes. Charlotte Mayor Anthony Foxx, a Democrat, has spoken out about the need to build more low-income housing in the city, and adding $15 million to the city's Housing Trust Fund is seen as an important step. A study by the Charlotte Housing Authority and UNC Charlotte, presented to City Council Monday night, said Mecklenburg County needs about 24,000 apartments or houses for very low-income families.

The margin at which the bonds passed appeared smaller than in the past. Two years ago, the transportation bond passed with 74 percent of the vote, the neighborhood bonds passed with 70 percent, and the housing bond was supported by 63 percent of the electorate.

The incomplete results showed the transportation bonds were leading with 63 percent of the vote, the neighborhood improvement bonds with 62 percent and the affordable housing bonds with 56 percent.

Gail Rieder, who voted at Park Road Montessori School, said she supported the bonds.

"I knew the money was set aside," she said. "Let's go ahead and use it."

David Price, who also voted at the school, said he supported bonds. He said his neighborhood is slated to get new sidewalks, and that he's also an avid biker.

"You can't ask for it if you don't vote for it," Price said.

There was no organized opposition to the bonds, though some conservatives had questioned why the city wanted to spend more money in a poor economy.

The city is prohibited by state law from spending tax dollars to support the bond campaign. That task fell to Vote Yes For Bonds, which raised roughly $100,000 from businesses such as Bank of America ($20,000), Duke Energy ($20,000), Belk ($10,000), Piedmont Natural Gas ($5,000) and Parsons Brinckerhoff ($2,500).

Charlotte typically asks voters to approve bonds every two years. The city has said it can't remember the last time voters rejected a bond package, though one for the airport was defeated in the 1960s.

The city's schedule would call for another referendum in 2012. But the city has said it may not have enough money set aside for another bond package, meaning this could be the last bond referendum until the economy dramatically improves.