City seeks $126 million in bond referenda
By Yasmine Regester / September 2, 2016
Come November, Greensboro voters will not only choose a new president and a host of people to serve in elected state and local offices, voters will also decide to fund new public works projects for the city.
The decision to let the city borrow $126 million to pay for a variety of projects and programs will be up to the voters. They will vote “yes” or “no” on four separate measures: $38.5 million in community and economic development bonds, $34.5 million in parks and recreation bonds, $28 million in transportation bonds, and $25 million in housing bonds.
If all four measures are approved, the city estimates it would need to increase the tax rate by 2.1 cents to repay the debt.
The city has plans to provide streetscape, water, sewer and storm water improvements and rental housing for the city’s identified redevelopment areas of S. Elm Street, Martin Luther King Jr. Drive, and the Ole Asheboro neighborhood.
$25 million in housing bonds will be used to buy, build and improve mutli-family and single-family homes for people with low to moderate incomes. $4 million has been allotted to provide loans for new construction or rehabilitation for approximately 80 rental homes in East Greensboro. $1 million will also be set aside to assist 50 low-income home buyers.
“There are households without working heat; there are households where children are still being poisoned by lead paint. We recognize the housing needs in East Greensboro,” said Barbara Harris, the interim assistant Greensboro city manager and director of the neighborhood development department.
The city will be making improvements to city parks and recreation facilities, including a joint facility that will combine the Windsor Community Recreation Center and Vance Chavis Library that is estimated to cost $2 million to design and plan.
Transportation bonds will provide funds to renovate the Douglas Gaylon Depot, erect new bus shelters and purchase electric buses for the city.
The City of Greensboro is offering a variety of educational materials and speakers to help residents understand the bond referenda that will be on the ballot November 8.
More information on the proposed bond projects can be found at www.greensboro-nc.gov.
Early voting begins October 20.
