What is the date of the parks bond referendum?
Tuesday, November 8, 2022
What is the total dollar amount for the bond referendum?
Raleigh voters will be asked to consider a $275 million bond referendum.
When was the last bond referendum?
The last bond referendum was in 2014 for $91.775M. Prior to that, there was a bond referendum in 2007 for $88.6M, in 2003 for $47.25M, in 2000 for $16M, and in 1995 for $28M.
What is the status of the 2014 parks bond?
The 2014 Parks Bond included 74 projects. Of the 2014 parks bond projects, 75% are completed, 15% are in construction, and 10% are in design and permitting.
How were bond projects selected?
The primary selection criteria included:
- Equity as a priority
- City Council Strategic Plan key focus areas
- Improved park and greenway access as a priority
- Safety/code compliance needs
- Community outreach and input:
Seven Parks, Recreation, and Greenway Advisory Board meetings were advertised and open to the public
Five public open house events
Community meeting presentations
Online review via an interactive community message board
Newsletters and social media communication
Several City Council discussions and deliberations, April 2020, March 2021, November 2021, May 2022, June 2022, and July 2022
When will these projects be implemented?
If voters approve, bond projects will be implemented in phases over the next 5-6 years, with funding available for the first phase of projects beginning July 2023.
If I live in Raleigh, what would the impact be on my taxes?
If voters approve, there will be a 4-cent increase in Raleigh’s property tax rate. Currently, the median home tax value in Raleigh is $256,578. The 4-cent tax impact for the median value home will be $103 annually.
Why are bonds used to fund parks and recreation projects?
The use of bonds for financing major capital improvements is common in the US and NC. It allows the payback of the funds over the life of the capital item. In the case of general capital projects such as parks and streets, which benefit the community as a whole, general obligation debt is typically used. It is secured by the taxing power of the City.