Why do we need a bond referendum now?

In preparation for the bond referendum, the Belmont City Council worked diligently to identify critical transportation improvement needs. These ​upgrades are essential to easing growing traffic congestion, and enhancing pedestrian and bicycle safety around schools and parks.

What will the City's bonds be used for?

Proceeds from the bonds will fun transportation improvements such as:

Constructing, reconstructing, widening, extending, and improving streets, sidewalks, crossings, lighting, traffic control, signals and markers, ​bicycle lanes, and landscaping

How will the bonds be repaid?

The finance officer has filed a statement preliminarily estimating that a property tax increase of $0.0425 per $100 of assessed valuation in Fiscal ​Year 2026 and of $0.03 per $100 of assessed valuation in Fiscal Year 2028 (for a combined total of $0.0725 per $100 of assessed valuation) ​will be required to provide sufficient funds to pay the principal and interest on the proposed bonds.

When must the bonds be repaid?

While the bonds typically must be repaid within seven years, this timeframe can be extended to 10 years.

Beyond bonds, what other funding is available for transportation projects?

Additional project funding sources include the State of North Carolina for state roads, various grants, the utilization of Powell Bill funds, or a ​combination thereof.

YES for reduced conges​tion

YES for en​hanced safety