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As part of the FY2013 budget development process, City Manager Curt Walton proposed a new Capital Investment Plan (CIP) to City Council on May 9th that invests in corridors, increases connections, and improves communities. The proposed investment plan funds $926.4 million in infrastructure improvements from 2012 through 2020, includes four bond referenda, and is funded by a 3.6-cent property tax rate increase – increasing the current rate from 43.7 cents per $100 valuation to 47.3 cents.
In order to continue meeting the needs of our community, the City has concentrated project development and ultimately bond resources on larger projects that produce significant long-term community impacts and address systemic issues within the community.
While the past three bond packages centered on Transportation, Neighborhood Improvements, and Affordable Housing, the proposed CIP approaches capital projects more holistically, to better reflect the infrastructure needs of our community.
Additionally, the CIP proposes projects that align with the City Council’s Vision for Charlotte 2020, leverage investment from past projects and enhance the ability to generate public/private investment and best serve as a catalyst for transformative change.
Public Hearing on the 2013 Budget Tuesday, May 29th at 7:00 p.m. Charlotte-Mecklenburg Government Center
Visit www.charlottefuture.com to learn more about the City’s proposed CIP.
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