In preparation for a vote on the November ballot, the City of Asheville launched an information page for the 2024 general obligation bonds.
First, a definition. A general obligation bond allows state and local governments to raise money for projects that don’t generate revenue. They’re backed by the ability to levy taxes and are paid off over many years (for Asheville, ~20 years). If all four bonds are approved, the City of Asheville may raise property tax by 2.6 cents.
The four $20 million bonds fall into different categories: parks and recreation improvements, affordable housing, transportation, and public safety facilities.
For each bond, the city has shared priority projects, including:
- Renovations for the Recreation Park pool
- Resurfacing and sidewalk improvement for numerous city streets
- A new East Asheville Oakley fire and police station
- Home repair grants and downpayment assistance
Check out the resources before you go to the polls. Pro tip: Your neighborhood can request a presentation on the bonds for more info.
