ASHEVILLE – Voters will see a new referendum on the November ballot for an $80 million general obligation bond package to fund housing, transportation, public safety and parks and recreation projects citywide.
Asheville City Council held the required public hearings and voted July 23 to adopt the bond categories and referenda — the final step needed to place the bond on the ballot.
Finance Director Tony McDowell reminded council of the considerable capital needs faced by the city, for which about $16 million is allocated annually from the general fund.
“Unfortunately, that amount of money does not allow us to meet all of our needs, and as a result, most of the projects that you all approved during the recent budget process for our (Capital Improvement Program) are primarily maintenance projects,” he said.
“We are looking to add additional capacity to do more, and one way to do that is through the general obligation bond referendum.”
The bond is a multimillion dollar borrowing program that can be used to bankroll significant city projects, like needed facilities, streets and sidewalks, public transportation and affordable housing projects. The city’s most recent GO bond referenda, totaling $74 million, was passed by Asheville voters in 2016. Similarly, Buncombe County voters greenlit a $70 million package in 2022.