Wake Forest residents will get the chance to vote on Nov. 4 on a $25.1 million bond that would help pay for projects such as new streets and sidewalks, the second phase of Joyner Park, expansion of the Northern Wake Senior Center and greenway improvements.
The bond referendum calls for three ballot questions that voters will consider separately: $6.3 million for street and sidewalk improvements; $14.2 million for parks and recreation facilities; and $4.6 for greenway improvements.
Though the bond itself would be $25.1 million, it would contribute to projects worth $56.6 million. Much of the difference between the amounts is made up by grants.
The bond could require a property tax increase of 2 cents, up from the current rate of 52 cents for every $100 of assessed value. However, an increase may not be necessary if the town’s revenues increase enough to absorb the costs.
To help voters understand the three bond financing questions, the town has created a 2014 Bond Referendum portal on its website. Located at www.wakeforestnc.gov/2014-bond-referendum.aspx, the mini-website provides detailed information about each of the bond items, their potential impact on the town’s tax rate and a list of frequently asked questions.
The Town of Wake Forest is prohibited from using public funds to advocate for the bond referendums, however, town officials are available to meet with civic groups and community organizations to provide information and answer questions. To schedule a speaker, contact Public Information Officer Bill Crabtree at 919-435-9421 or bcrabtree@wakeforestnc.gov.
