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Bad news all around..... It was mentioned here previously about a transportation bond. I know a small (15 million) bond was approved by voters in 2015. What is a typical transportation bond amount for a city the size of Greenville. Could we seek additional funds to help some projects move ahead without the NCDOT?
It's going to be a big ask for some of those projects -- and for those not on city-owned roads, any T-bond we float doesn't matter since we don't have ownership. For the city-owned roads, the costs you see represent anywhere between 20-40% of the total project cost. We'd then need to come up with somewhere between 1.5x and 4x the costs you see there.
Think of it from the standpoint of "what can Greenville reasonably back in the muni bond market given our current revenues." We could back the bond with tax-increment financing (which I think would be reasonable for the Dickinson Ave. improvements given the resulting property value increases we should expect there), but our current staff and administration both have not appeared open to any sort of tax increase. We already operate from a deficit given that ECU, Vidant and the County properties are all tax-exempt, so our revenues are less than what would be expected from a similar ~100K metro.
I believe the 15M bond that was approved related to construction of an "Eastside Greenway" along with 10th Street Connector improvements, general street resurfacing, sidewalk construction, as well as a 5th Street streetscaping that is part of the BUILD grant application I referenced a few pages back.
Bad news all around..... It was mentioned here previously about a transportation bond. I know a small (15 million) bond was approved by voters in 2015. What is a typical transportation bond amount for a city the size of Greenville. Could we seek additional funds to help some projects move ahead without the NCDOT?
Here is the $44 million 2014 transportation bond info for Wilmington...
GREENVILLE, N.C. - Construction began this week to demolish the former Imperial Tobacco Processing Plant on Atlantic Avenue.
The Imperial Tobacco Site is located between Dickinson Avenue, Clark Street, Bonners Lane and the railroad tracks. The project to dismantle the remains of the building and clear the property is expected to last approximately four months, and will necessitate the closure of Atlantic Avenue between Alley Street and Dickinson Avenue. Motorists exiting the residential parking lot in that area will need to take Eighth Street or Bonners Lane.
The demolition of the former warehouse is part of preparations for future development, but there are currently no approved plans for construction on the property. The removal of the existing infrastructure as well as leveling and grading of the site is being funded by a $150,000 grant that the City received in April from the North Carolina Division of Rural Economic Development.
The contract for the project was awarded to P&P Demolition and Excavation. After awarding the contract, the City moved forward with the preparation and submission of the project's Environmental Management Plan (EMP) to the North Carolina Department of Environmental Quality (NCDEQ). The EMP must be approved before soil disturbance on the site is allowed, and the City is still awaiting that approval.
Excited to hear that the possibility of a Downtown hotel is not dead in the water. I feel like it is something that is really needed not only for the area but for the University.
I work at ECU & it's ridiculous that if I want to bring a conference to be held at ECU, participants have to book a hotel out at the convention center or the hospital. You're basically turning away all these people from staying in the downtown area and eating / shopping there while they are in town...while also making it walk-able from the hotel to the conference event in the student center.
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