City of Durham Bonds
2005 Bond Projects: Progress On All Fronts
You've probably noticed many of the ways your 2005 bond funds have already equaled a better Durham: Miles of streets and sidewalks have been resurfaced, and nearly 100 new speed humps and traffic circles slow traffic through neighborhoods.
But other major improvements aren't as easy to see, though they're making a big impact. City police officers have new, state-of-the-art radios that help them respond faster and work together better. Office space in City Hall is being streamlined to make government operate more efficiently. And the sanitary sewer system that makes civilized life possible in Durham has received more than $36 million in repairs, upgrades and extensions. Major building construction - like renovating three downtown parking garages, overhauling Durham Athletic Park and building new recreation centers - takes longer because these projects are much more complicated.
"If you do these major construction projects right, there are months and months of careful preparation and design before you can send the workers in hardhats to the jobsite," Deputy City Manager Ted Voorhees said. "But we want citizens to know that we're pushing as hard as we can to get each project to that point."
City officials have been busy hiring and working with architects and experts, who have drawn - and in many cases revised and redrawn - project designs. Construction contractors must also be selected carefully to spend your bond money as wisely as possible. Now that many of these important details have been handled, expect to see more scaffolding, bulldozers and jackhammers at bond project sites throughout the city over the next year or so.
Information You Should Know About the 2007 Street Bond Referendum
Many Durham streets and sidewalks urgently need repaving, City Manager Patrick Baker and the City Council realize. That's why on Nov. 6, citizens can vote on a $20 million bond referendum to pay for the work.
The City of Durham has already finished, has under contract or is about to seek bids for all of the $18.5 million approved for bond-funded street and sidewalk improvements in 2005. That investment has made a difference across Durham, making the city a safer, more attractive place to walk and drive. Signs reading "Your Bonds = A Better Durham" identify bond funded projects.
But the need remains great.
"Unfortunately, the city fell far behind on maintenance for a little more than a decade," Baker explained. "My administration and this City Council are working hard to catch us up. Neglected streets and broken sidewalks just won't do for this new era in Durham." The City has top-notch credit, so it can borrow through bonds at a low interest rate. Baker said the City is "determined to borrow responsibly to keep that great credit rating." Using bonds also ensures that those who live in Durham and enjoy the improvements in the future will help pay for them.
The city is growing and rising property tax revenue is expected to cover some or all of the cost of repaying the bonds, so a tax rate increase may not be necessary. If one is, however, just one extra cent per $100 of assessed value would cover the bond payments, according to the City's Finance Department.
"We can try to patch our streets and sidewalks with regular operating funds," Baker said. "But to fix them long-term, we need bond funds."