2016 Orange County Bond Referendums: Schools & Low and Moderate Income Housing
Whatâ€™s a Bond?
â€˘ Used in fast-growing communities. â€˘ Meet the demand for services and facilities. â€˘ Allow cost to be repaid over useful life of facilityimprovement.
OC SCHOOL BOND: $120 million to repair and renovate schools www.ocbond.org
LOW & MODERATE INCOME HOUSING BOND: $5 million to create 1,000 affordable housing units www.ocbond.org
About the Schools Bond: $120 Million • Increase capacity. • Improve safety and security. • Renovate, repair older school facilities. www.ocbond.org
About the Schools (Chapel Hill-Carrboro)
• Chapel Hill High: Renovation • Lincoln Center: A Learning Center • Centralizing pre-K • Increasing capacity by 189 seats • Relieving need to build a new school • Preservation of Historical Lincoln Center • Green Transportation/Maintenance facility shared by both school systems www.ocbond.org
About the Schools (Orange County)
• Orange High: Infrastructure Repairs; Safety/Security Updates • Cedar Ridge High: New Classroom Wing • Elementary and Middle School repairs and updates to safety, security, heating & air systems and mechanical systems • Green Transportation/Maintenance facility shared by both school systems www.ocbond.org
About the Housing Bond: $5 Million • Help create 1,000 affordable housing units • It is expected that some of the affordable homes will be for households in the 50 to 80 percent of median income bracket. • Professions that fall into this income range include teachers, law enforcement, firefighters and public workers. www.ocbond.org
Affordable Housing to Assist: • Low and moderate income individuals and households • Includes: • Persons with disabilities • Older adults/seniors • Persons experiencing homelessness • Survivors of domestic violence www.ocbond.org
Property owners may see an increase in county property tax.
Example: A home valued at $200,000 could see a possible Annual Property Tax Increase: $74 to $116 within 5 to 7 years of referenda date. (Between $6 and $10 per month).
WORDING ON BALLOT FOR SCHOOLS BOND: Shall the order authorizing Orange County general obligation bonds in the maximum amount of $120,000,000 plus interest to pay capital costs of providing school facilities and paying related costs, and providing that additional taxes may be levied in an amount sufficient to pay the principal of and interest on the bonds, as adopted by the Countyâ€™s Board of Commissioners on May 5, 2016, be approved? www.ocbond.org
WORDING ON BALLOT FOR LOW TO MODERATE INCOME BOND: Shall the order authorizing Orange County general obligation bonds in the maximum amount of $5,000,000 plus interest to pay capital costs of providing housing for persons of low and moderate income and paying related costs, and providing that additional taxes may be levied in an amount sufficient to pay the principal of and interest on the bonds, as adopted by the Countyâ€™s Board of Commissioners on May 5, 2016, be approved? www.ocbond.org
DONâ€™T FORGET TO VOTE Election Day, November 8th! 6:30am to 7:30pm www.ocbond.org
An overview of the 2016 Bond, funding priorities and sample ballots.