BURLINGTON, N.C. (WGHP) — People will have a chance to weigh in on a bond referendum this November in Burlington. It’s all up to voters to determine if a number of priority projects will be funded.
Two bond referendum questions encompass six anticipated projects in the city of Burlington. If they were to be approved by voters, the bonds total up to $68.5 million.
One of the big projects included in the list is Paramount Theater for upgrades and expansion.
“All of these items have been talked about, some of them for over a decade,” Community Engagement Director with the City of Burlington Morgan Lasater said.
In Burlington, on Nov. 5, the ballot will ask residents to decide on a $47 million recreation and parks bond for anticipated projects to help build a new enclosure for the Maynard Aquatics Center pool, upgrade and renovate the historic downtown Paramount Theater and build a new Burlington Sportsplex.
“We had a recreation and parks master plan that was done in 2012, and it identified needing additional recreation facilities in our community. Our community’s even grown more since then. So I think it’s important for us as citizens and as folks that work for the city to think about our future and the future of our city,” Lasater said.
That same question will be asked to decide on a street and sidewalk bond of $21.5 million. About $5 million of that would go toward the city’s streetscape design downtown.
“Over time, streets need maintenance, and it’s a costly thing to do. A bond really is the most fiscally responsible way to finance projects like resurfacing and sidewalk maintenance,” Lasater aid.
If voters give both the thumbs up, a property tax rate increase will be needed to repay the debt if a total of $68.5 million in bonds is issued.
The projected property tax rate increase is approximately 5.70 cents per $100 valuation. If the bond passes, the city said priority projects would quickly begin.
“Many folks in our community have followed the progress as we have begun the planning and construction design for the Paramount Theater. And we’re close. We’re entering in construction drawing. So if this does pass on the bond, we’ll be able to move quickly and begin construction in the first quarter of 25,” Lasater said.
If one or both of the bond referendum questions are not approved by voters in November, the projects will be delayed or canceled.
City leaders would have to look for alternative and potentially more expensive ways to finance these projects.