A $2 Billion Bond Project Proposal for Strategic Investments in Our State’s Public Infrastructure
Voters will have the opportunity to vote on the issuance of Connect NC public infrastructure bonds in the primary election on March 15, 2016.
Connect NC is $2 Billion bond project proposal for strategic investments in our state’s public infrastructure—higher education, state parks, agriculture, safety, and water and sewer infrastructure—that will cultivate a stronger economy, improve quality of life, provide improved facilities for education and training, and enhance the safety of our food and our citizens.
No new taxes are required now or in the future to finance the bonds as North Carolina will be finished paying some current bond debt before the cost of these bonds would be added.
Identified projects span from the mountains to the coast and include direct investments in 76 counties with benefits felt in rural communities, large urban cities, and statewide. Just as businesses invest in their companies and families invest in their homes, North Carolina has the responsibility to invest in public infrastructure for current and future generations.
– NC Community College System—$350 million for new construction
– UNC System—$980 million to build/repair STEM facilities
State Parks and Attractions
– $75 million to update facilities at 45 treasured state parks
– $25 million for support facilities, trails, exhibits at the North Carolina Zoo
National Guard Facilities
– $70 million for Readiness Centers in Burke, Guilford, and Wilkes Counties
Water and Sewer Infrastructure
– $309.5 million for statewide water and sewer to meet demands of growing population
– $85 million—NC State Plant Science Research
– $94 million—Agriculture & Consumer Sciences Building for protecting NC citizens and their food supplies
– Long-term financing is the most efficient way to fund critical needs projects, especially when interest rates are at an all-time low.
– North Carolina has an established and successful history of responsibly using long-term financing to support the infrastructure and educational needs of our communities and citizens.
– Bonds will allow North Carolina to pay over 20 to 25 years for assets that will last for 50 years or more.
– Most of these infrastructure projects cannot be financed from annual operating budgets on their the state or county levels. Just as homeowners pay for a house as they use it over time, North Carolinians will pay over decades for these needed-right-now improvements to our “home,” North Carolina.
North Carolina’s 58 community colleges have trained and education 40% of the state’s workforce over the last 10 years; alumni account for 46%, or $19.6 billion, of the $42.2 billion economic impact of higher education alumni in NC.
Technology and infrastructure are needed to train. $350 million can:
– Mean the difference in offering state-of-the-art learning experiences to NC citizens
– Bring new facilities to life on campuses that have had the door shut to major capital efforts since the Great Recession
– Give needed funds to pursue energy efficiencies that will keep paying dividends for years
– Provide new capital investments for repair and renovation projects which will bring construction jobs to our area
– Help NC community colleges keep the edge needed to provide citizens the all-important first step to college and career advancement
$10.668 million—Fayetteville Technical Community College
– Overcrowded laboratories for health program students at Fayetteville campus
– Over 1,000 students enrolled annually in FTCC Health Programs
– Western Campus—use this area to expand overcrowded health programs
– Older buildings in need of construction repair (Horace Sisk and Lafayette Hall)