Charlotte will have the means to address crowded and deteriorated streets and enhance efforts to reduce traffic fatalities now that the Local Government Commission (LGC) has approved $400 million in general obligation bonds.
The Charlotte bonds were approved by voter referenda in the November election. They cover three main project areas: Transportation ($238 million), housing ($100 million) and neighborhood improvement ($61.7 million). A tax increase estimated at .25 cents per $100 of assessed property valuation is expected to cover the costs.