More than 60% of voters in Raleigh, N.C., last week approved the issuance of $56 million of general obligation bonds in two referendums.
The city won authority to issue $40 million of bonds for various transportation improvements, including upgrades for train and bus services, bicycle lanes, greenways, sidewalks, and general street resurfacing projects.
In a separate ballot question, voters approved issuing $16 million of bonds for affordable housing projects. The bonds will add 0.91 cents per $100 of assessed value to the city’s property tax rate. Residential property valued at $188,139 — the median-priced assessment for Raleigh homes — will see a tax hike of $17.11, according to city officials.