North Carolinians for Jobs & Progress - Vote for Amendment One

Overview

North Carolina is one of only two states in the country without a powerful economic development tool called self-financing bonds. With 185,000 jobs lost, North Carolina can no longer afford such a distinction.

North Carolinians for Jobs and Progress believes we owe it to ourselves to have this tool that’s been so successful in attracting jobs and reinvigorating communities across America.

Please join us on November 2 in voting FOR Amendment One to authorize the use of self-financing bonds in this state.

Description

Self-financing bonds pay for themselves. Bonds pay for public improvements such as streets, water and sewer service and sidewalks in special development districts. Those facilities and the private development they support cause property values in a district to improve. That generates additional tax revenues to pay off the bonds.

Projects the bonds will support include the re-use of abandoned textile and furniture plants, affordable housing, commercial development in inner cities, industrial parks, redevelopment of areas damaged by environmental pollution or natural disasters.

In addition to local governments, the State Local Government Commission must approve each bond. In more than 50 years no local bond approved by the Commission has defaulted. Because the bonds do not pledge the community’s full taxing power no local referendum is required. That flexibility makes North Carolina communities much more competitive for projects that can’t wait months for a referendum.

Amendment One Blog

Amendment One won the vote of a majority of North Carolina voters Tuesday. It'll mean that we'll be able to compete more effectively with other states to attract jobs and put more of our people to work. Remember tha...