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<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;mso-ligatures:none"><img width="325" height="73" style="width:3.3854in;height:.7604in" id="Picture_x0020_8" src="cid:image002.jpg@01DAE199.EFD328D0" alt="Title: City of Durham Communications Department"></span><span style="font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;color:#00467F"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;color:#00467F"><o:p> </o:p></span></b></p>
<p class="MsoNormal" align="right" style="text-align:right"><b><span style="font-family:"Calibri",sans-serif;color:#00467F">News Media Contact<o:p></o:p></span></b></p>
<p class="MsoNormal" align="right" style="text-align:right"><span style="font-family:"Calibri",sans-serif"><a href="mailto:CommsMedia@DurhamNC.gov">CommsMedia@DurhamNC.gov</a><span style="color:#00467F"><o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:#00467F"><o:p> </o:p></span></p>
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<p class="MsoNormal" align="center" style="text-align:center"><span style="font-size:50.0pt;font-family:"Calibri",sans-serif;color:#00467F">News Release</span><span style="font-family:"Calibri",sans-serif">
<br>
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:#EF3D42">For Immediate Release: July 29, 2024</span><span style="font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><b><span style="font-size:14.0pt;font-family:"Calibri",sans-serif">Durham Launches New Educational Webpage for 2024 Bond Referendum<o:p></o:p></span></b></p>
<p class="MsoNormal" align="center" style="text-align:center"><span style="font-family:"Calibri",sans-serif"><a href="https://www.durhamnc.gov/5278/Connecting-Durham-2024-Bond-Referendum"><b><i><span style="font-size:12.0pt">DurhamNC.gov/Bonds</span></i></b></a></span><i><span style="font-size:12.0pt;font-family:"Calibri",sans-serif">
provides details on how $200 million bond referendum would improve streets, sidewalks, and parks if approved by voters in November<o:p></o:p></span></i></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">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.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Calibri",sans-serif;color:#00467F">What You Need to Know<o:p></o:p></span></b></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><span style="font-family:"Calibri",sans-serif">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.<o:p></o:p></span></li></ul>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><span style="font-family:"Calibri",sans-serif">New webpage –
</span><span style="font-family:"Calibri",sans-serif"><a href="https://www.durhamnc.gov/5278/Connecting-Durham-2024-Bond-Referendum">DurhamNC.gov/Bonds</a></span><span style="font-family:"Calibri",sans-serif"> – 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.<o:p></o:p></span></li></ul>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><span style="font-family:"Calibri",sans-serif">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.<o:p></o:p></span></li></ul>
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<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"> If approved, the funds would be used for: <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><b><span style="font-family:"Calibri",sans-serif">Streets</span></b><span style="font-family:"Calibri",sans-serif">: 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. <o:p></o:p></span></li><li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><b><span style="font-family:"Calibri",sans-serif">Sidewalks</span></b><span style="font-family:"Calibri",sans-serif">: Fixing existing sidewalks and building new sidewalks. <o:p></o:p></span></li><li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><b><span style="font-family:"Calibri",sans-serif">Parks</span></b><span style="font-family:"Calibri",sans-serif">: Improving Long Meadow and East End parks and building a new public water
park for all ages and abilities at Merrick-Moore Park.<o:p></o:p></span></li></ul>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">The City’s new educational webpage –
<a href="https://www.durhamnc.gov/5278/Connecting-Durham-2024-Bond-Referendum">DurhamNC.gov/Bonds</a> – 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.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Calibri",sans-serif">Proposed Projects<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">The <b>$115 million streets and sidewalks bond</b> would provide the following infrastructure improvements.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><b><span style="font-family:"Calibri",sans-serif">New sidewalks: $60 million<o:p></o:p></span></b></li><ul style="margin-top:0in" type="square">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level2 lfo1"><span style="font-family:"Calibri",sans-serif">Building 12.4 miles of sidewalks in 25 top-priority locations identified in the
</span><span style="font-family:"Calibri",sans-serif"><a href="https://www.durhamnc.gov/3092/BikeWalk-Plan-2017" target="_blank">2017 Bike + Walk Plan</a></span><span style="font-family:"Calibri",sans-serif">. If approved, the first projects would likely begin
in spring 2025.<o:p></o:p></span></li></ul>
</ul>
<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></b></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><b><span style="font-family:"Calibri",sans-serif">Repaired sidewalks: $15 million<o:p></o:p></span></b></li><ul style="margin-top:0in" type="square">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level2 lfo1"><span style="font-family:"Calibri",sans-serif">Fixing 1,800 locations repairing 100 miles of sidewalks. If approved, projects would likely begin in summer 2025.<o:p></o:p></span></li></ul>
</ul>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><b><span style="font-family:"Calibri",sans-serif">Street paving and maintenance: $30 million<o:p></o:p></span></b></li><ul style="margin-top:0in" type="square">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level2 lfo1"><span style="font-family:"Calibri",sans-serif">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.<o:p></o:p></span></li></ul>
</ul>
<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></b></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><b><span style="font-family:"Calibri",sans-serif">Unpaved streets: $10 million<o:p></o:p></span></b></li><ul style="margin-top:0in" type="square">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level2 lfo1"><span style="font-family:"Calibri",sans-serif">There are 10.85 miles of City-maintained unpaved streets. This funding would pave all these streets by 2029.
<o:p></o:p></span></li></ul>
</ul>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">The <b>$85 million parks and recreation bond</b> would help improve two existing parks and build a new public water park.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><b><span style="font-family:"Calibri",sans-serif">New Aquatic Center at Merrick-Moore Park: $43 million<o:p></o:p></span></b></li><ul style="margin-top:0in" type="square">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level2 lfo1"><span style="font-family:"Calibri",sans-serif">This public water park would be located beside the
</span><span style="font-family:"Calibri",sans-serif"><a href="https://www.dprplaymore.org/501/Wheels-Roller-Skating-Rink">Wheels Roller Rink</a></span><span style="font-family:"Calibri",sans-serif">, which is set to reopen later this year. Designed with resident
feedback gathered through the </span><span style="font-family:"Calibri",sans-serif"><a href="https://www.dprplaymore.org/499/Splash-Play-Public-Engagement">Splash and Play project community engagement</a></span><span style="font-family:"Calibri",sans-serif">,
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. <o:p></o:p></span></li></ul>
</ul>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><b><span style="font-family:"Calibri",sans-serif">East End and Long Meadow Parks: $42 million<o:p></o:p></span></b></li><ul style="margin-top:0in" type="square">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level2 lfo1"><span style="font-family:"Calibri",sans-serif">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.<o:p></o:p></span></li></ul>
</ul>
<p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Calibri",sans-serif">Why Bonds<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">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.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">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. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">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.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Calibri",sans-serif">Taxpayer Costs<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">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).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">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).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"> <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">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).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Calibri",sans-serif">November Ballot Questions<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">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.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<ul style="margin-top:0in" type="disc">
<li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><span style="font-family:"Calibri",sans-serif">“Bond order authorizing the issuance of $85,000,000 general obligation parks and recreation bonds of the City of Durham, North Carolina.” <o:p></o:p></span></li><li class="MsoNormal" style="margin-left:-.25in;mso-list:l0 level1 lfo1"><span style="font-family:"Calibri",sans-serif">“Bond order authorizing the issuance of $115,000,000 general obligation streets and sidewalks bonds of the City of Durham, North Carolina.”<o:p></o:p></span></li></ul>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">For more details on 2024 election information, voter registration information, and polling places, visit the Durham County Board of Elections
<a href="https://www.dcovotes.com/" target="_blank">website</a>.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><span style="font-family:"Calibri",sans-serif">###<o:p></o:p></span></p>
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