TO: Mayor and Members of City Council
THRU: Douglas J. Hewett, City Manager
FROM: Adam Lindsay, Assistant City Manager
Robert Stone, Construction Management Division
Sheila Thomas-Ambat, Public Services Director
Chris Cauley, Economic & Community Development Director
Brook M. Redding, Special Project Manager
DATE: December 12, 2022
RE:
Title
Fayetteville Forward Bonds - Next Steps
end
COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
This item supports the City's Mission and Goals of the Council adopted Strategic Plan
Executive Summary:
The City Council placed a ballot measure seeking authorization of the issuance of up to $97 million in General Obligation Bonds to support capital investments in public safety, infrastructure, and affordable housing on the November 8, 2022, ballot. Each bond authorization measure was approved by voters at the following percentages.
* Affordable Housing Bond - 59%
* Infrastructure Bond - 67%
* Public Safety Bond - 62%
The Mayor and City Council can now provide initial direction to staff regarding the desired implementation plan.
Background:
April 28, 2022
* City Council held a special meeting to discuss unfunded needs in the City. The City Council directed staff to initiate the process to set bond referendums for November 8, 2022, for not to exceed $60,000,000 in general obligation bonds for public safety improvement capital projects, not to exceed $25,000,000 in general obligation bonds for streets, sidewalk, and connectivity capital projects, and not to exceed $12,000,000 in general obligation bonds for affordable housing capital projects and to fund the Housing Trust Fund.
May 9, 2022
* City Council adopted a preliminary findings resolution authorizing staff to submit an application to the Local Government Commission for the proposed authorization of Public Safety Improvement Bonds, Streets, Sidewalks, Connectivity Bonds, and Housing Bonds.
June ...
Click here for full text