Council sets public hearing on $16 million housing, $40 million transportation bonds

The Raleigh City Council will hold a public hearing Aug. 2 on two bond proposals planned for the Oct. 11 ballot: $16 million for affordable housing and $40 million for transportation projects.  The hearing starts at 7 p.m. in the municipal building city council chamber, 222 W. Hargett St.

Here's how the city would spend $40 million in transportation bonds:

·        Tryon Road widening and realignment, $1.8 million;
·        Street resurfacing program, $10.05 million;
·        City-initiated new sidewalk construction, $4.75 million;
·        Citizen petition projects for new sidewalk construction, $3 million;
·        Sidewalk repair reserve, $4 million;
·        Streetscape plan for Hillsborough Street from Gardner Road to Rosemary Street, $1 million;
·        Corridor study for Person and Blount streets, $250,000;
·        Facility improvements to Moore Square Transit Center in Downtown Raleigh, $3.5 million;
·        Transit corridor improvements (shelters and benches), $750,000;
·        Walnut Creek Greenway from New Hope Road to the Neuse River, $3.2 million;
·        Lumley/Westgate Road corridor greenway and bicycle lane, $2.2 million;
·        Rosengarten Greenway, $500,000;
·        Two-way conversion of South Street and Lenoir Street, $2 million; and,
·        Union Station improvements, $3 million.

For more about the transportation bonds, contact Eric Lamb, transportation planning manager, at 919-516-2161.

Here are details on $16 million in housing bonds:

·        First-Time Home Ownership. This program would provide second mortgage financing to first-time homebuyers consisting of low-interest loans. Up to $20,000 in low-interest loans could be used to finance a down payment on a new or existing residence anywhere in Raleigh. If the residence is located in one of the City’s lower-income Census tracts, eligible homebuyers could get loans of up to $30,000, total: $4.8 million;
·        Joint Venture Affordable Housing Development. This program would provide low-interest loans to private housing developers (both non-profit and for profit) to construct or rehabilitate affordable housing units. These would primarily be rental units. The funds also would be used to support viable housing proposals that address homelessness, total: $8 million;
·        Housing Units Purchase. Funds for this program would be used to purchase land, rehabilitate multifamily units and construct new City-owned rental units for use by Raleigh residents who have low incomes and cannot afford private-market housing, total: $600,000;
·        Limited Rehabilitation/Repair. This program would provide emergency rehabilitation for Raleigh homeowners who have low incomes. Homes must be occupied by an owner with an income at or below 50 percent of the median. The home also must be in need of repairs that, if left unattended, would pose a threat to the occupant’s health and safety. A maximum of $5,000 per unit could be used for each qualifying applicant, total: $800,000;
·        Neighborhood Revitalization. This program would support neighborhood preservation and revitalization efforts to improve the quality of life for Raleigh residents. This would be done by increasing and improving the existing housing stock and undertaking redevelopment activities to mitigate blighted conditions citywide, total: $800,000; and,
·        Tornado relief. This program would assist qualified homeowners with low-to-moderate incomes whose dwellings were declared "unsafe" as a result of damage caused by the April 16 tornado, total: $1million.
 
For more information about the housing bond referendum, contact Program Manager Shawn McNamara in the Community Development Department at 996-4330.