2024 General Obligation (GO) Bond
2024 General Obligation (GO) Bond
In November 2024, Asheville voters for approving the 2024 General Obligation Bond Referendums totaling $80 million.
As our community continues to recover from the impacts of Tropical Storm Helene, the City of Asheville is committed to maximizing available resources to enhance recovery efforts, rebuild critical infrastructure, and ensure long-term resiliency. The passage of the 2024 Bond Referendums will help fund key prioritized improvements in affordable housing, transportation infrastructure, public safety facilities, and parks and recreation facilities.
The bonds will be used to fund projects in the following categories and the following amounts:
Parks & Recreation Improvements - $20 million
Transportation - $20 million
Public Safety Facilities - $20 million
Affordable Housing - $20 million
The cost of debt service result in a 2.6-cent increase in Asheville property taxes for every $100 in valuation. Approved projects would supplement the City’s current Capital Improvement Program.
Click here for the 2024 GO Bond overview flyer.
Interested in having a City staff person attend one of your neighborhood meetings to share information regarding the 2024 Go Bond? Email bondeducation@publicinput.com
Parks & Recreation Improvements
The $20 million for parks and recreation improvements will provide funding for the following prioritized projects:
Prioritized Bond Projects
Renovation of Malvern Hills Park Pool
Renovation of Recreation Park Pool
Upgrades to Linwood Crump Shiloh Community Center
Upgrades to Tempie Avery Montford Community Center
Dedicated Pickleball Courts
Upgrades to Murray Hill Park
Upgrades to Recreation & Azalea Park
Renovation of Walton Street Park
Improvements to outdoor courts, playgrounds and lighting at ball fields throughout the City.
The proposed bond projects will supplement the programs and projects that are already in the City’s annual operating budget and capital improvement program. Additional bond projects will be identified with equity, sustainability and opportunities to maximize state and federal funding in mind.
Click here for the parks & recreation improvements flyer.
Transportation
The $20 million for transportation projects will provide funding for the following prioritized projects:
Prioritized Bond Projects
$10M Road Resurfacing
Bevlyn Drive
East Hawthorn Drive
Emma Road
Forest Lake Drive
Haywood Street
Montford Avenue
Schenck Parkway
West Asheville School Road
Senator Reynolds Road
Sunset Drive
Thompson Street
$4.5M Sidewalk and Other Pedestrian Safety Improvements
Eagle/Market Street
Haywood Street
Lexington Avenue
London Road
$5.5M Greenways/Multi-use Paths
North Reed Creek Design and Construction
Smith Mill Creek Feasibility Study and Design
The proposed bond projects will supplement the projects that are already in the City’s annual operating budget and capital improvement program. Additional bond projects will be identified with equity, sustainability and opportunities to maximize state and federal funding in mind.
Click here for the transportation projects flyer.
Public Safety Facilities
The $20 million for public safety facility projects will provide funding for the following prioritized projects:
Prioritized Bond Projects
New East Asheville Oakley Fire and Police Station
Leadership in Energy and Environmental Design (LEED) Certified
Planning and Land Acquisition for North Asheville Fire Station 7
Planning for South Asheville Fire Station 14
West Asheville Haywood Road Police Substation Renovations
The proposed bond projects will supplement the projects that are already in the City’s annual operating budget and capital improvement program. Additional bond projects will be identified with equity, sustainability and opportunities to maximize state and federal funding in mind.
Click here for the public safety facilities flyer.
Affordable Housing
The $20 million for housing affordability will be used to supplement the City of Asheville’s Housing Trust Fund.
Prioritized Bond Projects
Make investments in affordable homes
Support Homeownership through home repair grants and/or downpayment assistance
Purchase land and existing homes for future affordable housing
Proposed bond funds will also support homeownership through home repair programs.
The capital expenditures in the proposed bond program will complement the City’s daily work to improve housing affordability.
Affordable Housing efforts underway that are non bond-eligible
Planning reforms to incentivize more housing
Improved systems to collect and manage data regarding housing affordability
Centralized resource for people in need of affordable housing that brings together property managers, local non-profits and renters
Click here for the Housing affordability flyer.
How would this impact me?
If all four bonds are approved, the City may need to increase property taxes in order to repay the debt. Based on the City’s projected debt capacity, the debt service could result in a 2.6-cent increase in Asheville property taxes for every $100 in valuation.
For example: A home valued $420,926k = extra $110 per year in property taxes (or $9 per month)
If the bonds are approved, the City will have 7 years to issue bonds and approximately 20 years to pay off the bonds after the funds are received.