[Durham INC] Durham Launches New Educational Webpage for 2024 Bond Referendum

Mon Jul 29 09:59:16 EDT 2024

[Title: City of Durham Communications Department]

News Media Contact
CommsMedia at DurhamNC.gov<mailto:CommsMedia at DurhamNC.gov>

News Release
For Immediate Release: July 29, 2024

Durham Launches New Educational Webpage for 2024 Bond Referendum
DurhamNC.gov/Bonds<https://www.durhamnc.gov/5278/Connecting-Durham-2024-Bond-Referendum> provides details on how $200 million bond referendum would improve streets, sidewalks, and parks if approved by voters in November

DURHAM, N.C. – City of Durham voters seeking information about the $200 million bond referendum that will be on their November ballot now have a new online resource to learn more before they head to the polls.

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What You Need to Know

  *   November 5 ballot includes two bond questions for voters to authorize the City of Durham to borrow $115 million to improve streets and sidewalks and $85 million to improve three East Durham parks.

  *   New webpage – DurhamNC.gov/Bonds<https://www.durhamnc.gov/5278/Connecting-Durham-2024-Bond-Referendum> – includes an interactive map showing proposed locations for new sidewalks, repaired sidewalks, unpaved streets, and repaved streets. Webpage also includes renderings and more details about three proposed park projects.

  *   Voter-approved general obligation (GO) bonds are the least expensive way for governments to borrow money, resulting in more efficient use of taxpayer dollars over the repayment period.

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 If approved, the funds would be used for:

  *   Streets: Repaving and repairing City-maintained streets using data being collected now from the latest pavement condition study and paving the remaining City-maintained dirt streets.
  *   Sidewalks: Fixing existing sidewalks and building new sidewalks.
  *   Parks: Improving Long Meadow and East End parks and building a new public water park for all ages and abilities at Merrick-Moore Park.

The City’s new educational webpage – DurhamNC.gov/Bonds<https://www.durhamnc.gov/5278/Connecting-Durham-2024-Bond-Referendum> – provides details on the proposed projects, an interactive map showing the locations of street and sidewalk projects, educational video, proposed park renderings, tax rate implications, and frequently asked questions on how voter-approved funds would help pay for smoother streets, more sidewalks, and better parks for East Durham.

Proposed Projects
The $115 million streets and sidewalks bond would provide the following infrastructure improvements.

  *   New sidewalks: $60 million
     *   Building 12.4 miles of sidewalks in 25 top-priority locations identified in the 2017 Bike + Walk Plan<https://www.durhamnc.gov/3092/BikeWalk-Plan-2017>. If approved, the first projects would likely begin in spring 2025.

  *   Repaired sidewalks: $15 million
     *   Fixing 1,800 locations repairing 100 miles of sidewalks. If approved, projects would likely begin in summer 2025.

  *   Street paving and maintenance: $30 million
     *   Approximately 100 miles of City-maintained streets will be repaved or repaired. The 2024 pavement condition study is now underway to help guide the identification of specific streets. The 2021 study looked at the condition of 768 miles of asphalt streets and rated the overall condition at 69 out of 100. Once the most recent data results are received, the updated list of streets will be shown on the interactive projects map.

  *   Unpaved streets: $10 million
     *   There are 10.85 miles of City-maintained unpaved streets. This funding would pave all these streets by 2029.

The $85 million parks and recreation bond would help improve two existing parks and build a new public water park.

  *   New Aquatic Center at Merrick-Moore Park: $43 million
     *   This public water park would be located beside the Wheels Roller Rink<https://www.dprplaymore.org/501/Wheels-Roller-Skating-Rink>, which is set to reopen later this year. Designed with resident feedback gathered through the Splash and Play project community engagement<https://www.dprplaymore.org/499/Splash-Play-Public-Engagement>, this park and multi-pool aquatic center will feature state-of-the-art design and fun features including zero-depth entry, a lazy river, and pool space for recreational swimming for all ages and abilities.

  *   East End and Long Meadow Parks: $42 million
     *   A new pool, play areas, athletic fields and courts, and other improvements at Long Meadow and East End Parks on Alston Avenue to connect and make improvements to two neighborhood parks. The new pool at East End Park would replace the permanently closed pool at Long Meadow Park.

Why Bonds
Using general obligation (GO) bonds to pay for major infrastructure improvements allows governments to borrow funds as needed and repay the debt over time. This put less stress on the City's annual budget compared to cash funding projects.

Bonds are repaid over the useful life of the infrastructure, spreading the project cost equitably among current and future taxpayers as they receive the benefits of the infrastructure over time.

Since the City has an AAA credit rating from all three major rating agencies, it can secure the lowest interest rates for bonds, which maximizes funding availability for the projects. GO bonds are also the least expensive form of tax-supported debt, resulting in savings to taxpayers over the repayment period.

Taxpayer Costs
If both bonds pass, it could add 3.46 cents per $100 of assessed value to the City property tax rate starting in 2026, and slowly dropping off over the next 20 years. For a property valued at $300,000 inside the city limits, this would add about $104 to the annual tax bill (approximately $9 per month).

If only the street and sidewalk bond passes, it could add 1.99 cents per $100 of assessed value to the City property tax rate starting in 2026. For a property valued at $300,000 inside the city limits, this would add about $60 to the annual tax bill (approximately $5 per month).

If only the parks and recreation bond passes, it could add 1.47 cents per $100 of assessed value to the City property tax rate starting in 2026. For a property valued at $300,000 inside the city limits, this would add about $44 to the annual tax bill (approximately $4 per month).

November Ballot Questions
The referendum will appear as two questions on the November ballot. Voters can vote “yes” or “no” on each question. Each one needs a majority of "yes" votes to pass.

  *   “Bond order authorizing the issuance of $85,000,000 general obligation parks and recreation bonds of the City of Durham, North Carolina.” 
  *   “Bond order authorizing the issuance of $115,000,000 general obligation streets and sidewalks bonds of the City of Durham, North Carolina.”

For more details on 2024 election information, voter registration information, and polling places, visit the Durham County Board of Elections website<https://www.dcovotes.com/>.

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