The last two questions on the ballot in Cary this November will ask voters to approve money to help people live and play in the growing town.
The $590 million bond package comprises a $560 million Parks and Recreation Bond and a $30 million Housing Bond.
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The parks bond would pay for seven projects, including a sports and recreation center that has been in the works for nearly three years and a senior center in West Cary.
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The housing bond would fund town programs and nonprofits helping residents afford rent and support people experiencing financial hardship.
If the bonds are approved, construction could start immediately. If they fail, projects could be delayed years, Town Manager Sean Stegall said. Three meetings will be held to help residents learn more about the bonds, including how they would affect taxes.
Early voting runs Oct. 17 through Nov. 2. with Election Day on Nov. 5.
How would the bonds affect property taxes?
The property tax rate, currently 32.5 cents per $100 of assessed property value, would increase by 9 cents over about seven to 10 years.
Residents would see 3-cent increases in 2026, 2028 and 2030. This timeline could change, said Mayor Harold Weinbrecht.
Those tax increases would only cover the construction of the projects, however. Operating costs could require additional increases.
Cary leaders chose a general obligation bond to spread the costs out among all property owners, similar to a mortgage, and to give residents a say.
“Using bond money for these centers makes financial sense, as large capital projects like these are best financed through bonds,” Weinbrecht said. “That way future residents will also pay their fair share of the cost.”
Residents concerned about taxes and cost
Mary Collins has lived in Cary for 25 years and questions whether residents should be footing the bill for the large projects in the parks bond. After a countywide revaluation, the town’s property taxes shot up about 57% this year.
“We’re in a situation where the cost of living for every citizen has gone up, regardless of how affluent you are,” she said. “We’ve got an affordability problem — and then we’re going to take on projects, some of which are luxury.”
Collins created a website, carybonds.info, for those unfamiliar with the town’s upcoming bonds. She doesn’t think the town is making the true costs of the bond clear and disagrees with the decision to lump large projects together.
“We’ve been trying to tell the town, ‘You’ve got to put a little bit of the brakes on this,’ and they’re not listening,” she said.
Several projects have benefited from recent bonds, including the $112 million approved by voters in 2019 that contributed to the opening of Downtown Cary Park.
“Sometimes these [bonds] get looked at as if the government wants to do something,” Stegall said. “We only want to do it if citizens do.”
What’s in the $560 million Parks and Recreation Bond?
Cary has three community centers and one senior center. The last community center was built over 20 years ago, said John Collins, the town’s Parks and Recreation director.
“There’s a real demand in the community for public space and rental space for a variety of programs,” he said. “I think that’s one of the gaps that the new community centers would really fill.”
The town’s growing population, now over 180,300, requires more public spaces, leaders say.
The largest chunk of the parks bond, $300 million, would go to a sports and recreation center with a community center and senior center. It would connect to the proposed Walnut Creek Greenway from Fenton and downtown Cary. A competitive venue in the center could have an annual economic impact of $37 million. Wake County has also approved $75 million for the project.
The second largest project is the Mills Park Community Center. The $150 million facility would include a senior center, basketball courts, a walking track, classrooms, a ceramic studio, a gym with locker rooms, showers and child-care areas. It would give residents and seniors on the western side of Cary more recreation options.
The Cary Tennis Park would also be expanded with $60 million in the bond, getting 30 pickleball courts.
Other projects are the
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Walnut Creek Greenway: $30 million
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Asia Garden Master Plan: $10 million
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Nature Park Master Plan: $10 million
What’s in the $30 million Housing Bond?
The housing bond would help support low-income residents facing displacement or homelessness and establish new affordable rental properties.
Over the last 10 years, Cary has lost about 4,000 housing units that cost under $1,000 a month to rent. On average, renters pay about $1,500 a month in Cary, according to U.S. Census data.
Housing security was a top priority for the Town Council last year after lobbying by from advocates and residents of the Chatham Estates Mobile Home Park. The owner is selling the land and could displace hundreds of people who have lived there for years and pay $400 monthly.
The issue led council members to approve the Stable Homes Cary initiative with Dorcas Ministries to help those who might lose their homes. .
If approved, the bond would preserve more affordable options for people through purchasing property, providing housing development gap financing, supporting nonprofits, like Dorcas Ministries, and helping residents age in place.
Upcoming information meetings
The town has more information at carybonds.org and will hold hour-long meetings beginning Monday. None will be recorded or live-streamed.
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Oct. 14 at 6:30 p.m., The Cary Theater
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Oct. 15 at 6:30 p.m., Courtyard Raleigh Cary/Parkside Town Commons
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Oct. 28 at 6:30 p.m., Middle Creek Community Center