Local Politics

Raleigh considers issuing $52M street, housing bonds

Posted April 15, 2011

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— The Raleigh City Council is considering bond referenda totaling $52 million for transportation and housing.

The proposed $37 million transportation general obligation bond includes projects such as widening and repaving. This is the first time in Raleigh that funding for sidewalks, bike lanes and greenways has been included in a proposed transportation bond.

The proposed $15 million in affordable housing general obligation bonds include money for homeownership, rental development, rehabilitation, neighborhood revitalization and addressing the needs of the homeless.

Approval of the two referenda would add 0.84 cent per $100 valuation to the city's property tax rate. This increase would translate into an annual property tax increase of $15.80 on a home valued at $188,139, the median-priced assessment for Raleigh homes.

If included on the Oct. 11 ballot, the two bonds would be voted on separately.

A public hearing on the proposed referenda will be announced soon, city officials said Friday.

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  • coolwill43 Apr 15, 2011

    Bike lanes, affordable housing, widening and repaving (which is alredy tax paid for) homeownership, rental development, rehabilitation, neighborhood revitalization and addressing the needs of the homeless, it seams like the home owner is always asked to help out others. How about this a bound to help the home oner pay his property taxes ( affortable housing for the home owner) Meeker needs to go…..

  • coolwill43 Apr 15, 2011

    The public all ways vote no, it passes. i don't trust the system.

  • Squirreling Dervish Apr 15, 2011

    YEAH LOLLY YOU TELL 'EM!!!

    and I TOTALLY agree....People are not made of money

  • lolly Apr 15, 2011

    Raleigh can consider it all they want to. The public is going to vote no. The IBL needs to buy a clue.