Greensboro Voters Consider $126 Million Bond

Greensboro Bonds Explained

GREENSBORO, N.C. -- It's not all about Donald Trump and Hillary Clinton in this election - it's also about your money.

Greensboro voters will consider a $126 million bond package that if passed, could mean you will pay more in property taxes. But before you flat out reject the idea, the estimated average annual tax increase will be $30 or less than a dime a day.

The $126 million package is divided in four. There's a Community and Economic Development bond, Housing bond, Parks and Recreation bond and a Transportation bond.

The largest is the Community and Economic Development bond at $28.5 million. If this portion passes, you could see $25 million poured into Downtown Greensboro to provide updated lighting, new sidewalks, even uniform trashcans.

The Transportation bond would set aside nearly $20 million to repave streets across the city.

The Parks and Recreation bond is $34.5 million and would be used to complete the Downtown Greenway and extend the Atlantic and Yadkin Greenway. Money will also be spent on improvements to community parks, tennis and recreation facilities.

The Housing bond is $25 million. A majority of the money would be spent to expand homeownership programs.

Back in 2008, voters approved a $134 million bond that included the work on Gate City Boulevard. One bond project left from that package includes the Horse Pen Creek Road widening.

Taxes didn't increase to cover those projects but eight years later they're still under construction.

"We just wanted to be clear with people that if there's an expectation to move forward and expedite some of these projects, there very well could be a tax increase," said David Parrish, Assistant City Manager, City of Greensboro.

City leaders wanted to warn voters that if this current package passes, the tax increase is on the table. That's because if these projects start right away, the city will need new revenue to cover the bill.

READ MORE ABOUT $126 MILLION BOND PACKAGE

Copyright 2016 WFMY


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