The Vote Yes for City Bonds campaign officially launched Thursday and has already begun to find support on the Nov. 8 ballot for a $226 million bond package. The bonds will improve Charlotte’s streets and intersections, protect neighborhoods, and build more affordable housing.
On Thursday, the campaign unveiled its website, VoteYesForBonds.com, and named three co-chairs: Rai Glover, Charlotte market president for Truist Financial; Kerr Putney, chief community and government relations officer at CPI Security; and Ali Summerville, business administration executive of Ally Financial.
The Charlotte Regional Business Alliance is once again managing the campaign with funding by the Coalition for a Better 2050.
If approved, more than $146 million will fund street and intersection projects, upgrade traffic control systems, improve walkability and pedestrian safety measures, and repair and construct bridges, sidewalks, and bikeways.
In addition, $50 million on this year’s ballot leverages private investment dollars through the Housing Trust Fund, to increase the supply of quality and well-maintained affordable housing for low- and moderate-income individuals and families. The bond will fund new construction and preserve the existing housing supply. The funding would also assist with homeownership development in targeted neighborhoods, provide housing for seniors, disabled, and homeless populations, and lead to the acquisition of properties for developing mixed-income communities.
This year’s ballot measure also immediately addresses infrastructure needs. It allocates $29.8 million to improve infrastructure in established neighborhoods showing signs of distress, and funds capital projects. Emerging, high-growth areas in need of connectivity would also receive support. Infrastructure improvements include sidewalks, bike lanes, street and pedestrian lighting, streetscapes, storm drainage, and landscaping.
For more information about the important projects that will be made possible by the city bonds, click here.
