The City of Fayetteville continues to move forward with plans that will keep our city vibrant as a place to live and work. As we continue to grow, we must invest in an infrastructure this growth requires.
On November 8, your "FOR" vote will make transformative investments in the city’s infrastructure and operations that are designed to move Fayetteville forward. This $97 million in general obligation bonds will support projects in:
• Public Safety $60 million
• Public Infrastructure $25 million
• Housing Opportunity $12 million
THE BEST WAY TO PAY
The three referendums are the least expensive way to fund projects, with the lowest interest rate. This could potentially save the city and taxpayers higher financing costs associated with borrowing money to complete the identified projects. The city estimates a savings of roughly $2.5 million by funding these projects through general obligation bonds compared to installment financing options.
What does this mean to the average homeowner? All of these improvement projects come at a cost to taxpayers of less than 4 cents on property tax rates. A homeowner with an average home value of $200,000 would anticipate an increase in property taxes by approximately $80 a year or $6.67 per month. Should voters like you decide to pass the referendum, the new property tax rate would go in effect during fiscal year 2024.
Let’s do the right thing and keep Fayetteville moving forward. Investing in our city’s future is the right thing to do.
General Obligation Bonds Will Go Toward These Important Projects:
A maximum of $60 million would be used to implement key public safety projects to provide enhanced safety and emergency services to Fayetteville residents. Projects include land acquisition, relocation, construction of new fire stations, a new logistics center, renovation of existing fire stations and a police department call center. All of these improvements mean residents can have better access to services, modernized facilities, improved response time and overall enhanced security and safety.
A maximum of $25 million would go toward supporting critical investments in our infrastructure that directly affect safety, security, and livability. These projects include sidewalk improvements, street repair, intersection improvements and bike paths and lanes to name a few.
A maximum of $12 million would be used to support housing opportunity initiatives making Fayetteville a desirable place to live for all residents. Funds would be used to attract third parties to partner on projects such as the development of a housing trust fund, homeownership programs, new housing initiatives and innovative solutions to meet the critical housing needs of our community.
Fayetteville is moving forward to make your community a better place to live and work.