Buncombe County Board of Commissioners Takes Next Step Toward a Voter-Approved Bond Referendum

At its May 3 regular meeting, the Board of Commissioners approved three resolutions, which are required for the issuance of General Obligation Bonds, in order to pursue a referendum for:

• Acquisition and improvement of land or interests therein for conservation and protection of natural resources and preservation of farmland, including but not limited to, the development of greenways and trails for recreation purposes
• Payment of the capital costs of housing for the benefit of persons of low or moderate income, including construction of related infrastructure improvements and the acquisition of related land and rights-of-way
• If approved, the bonds would be issued in the amounts of $30 million and $40 million respectively.

The resolutions establish the intent to apply to the Local Government Commissioner (LGC) for approval of bonds, authorize the application to the LGC, and make certain statements of facts related to the bonds. With the Board’s May 3 approval of the resolutions, the County will file with the Local Government Commission an application for its approval of the General Obligation Open Space Bonds and General Obligation Housing Bonds.

Next steps:

• May 16, 2022 – Application to the LGC
• May 19, 2022 – Introduction of Bond Order at Board of Commissioners Regular Meeting
• June 7, 2022 – Public Hearing and Bond orders may be adopted. If adopted, the referendum is set
• Aug. 5, 2022 – Ballot language may go to the Board of Elections
• Nov. 8, 2022 – Referendum

Background: At its April 19 briefing, the Board of Commissioners heard a bond referendum feasibility study from the Trust for Public Land on a possible referendum to generate funding for affordable housing and for conservation and protection of natural resources and preservation of farmland. Funded by the Merck Family Fund and the Doris Duke Charitable Foundation, the study shows support for $30 million of bond funds for land conservation and greenways, and $40 million of bond funds for affordable housing. If approved by voters this November, a $30 million bond would cost typical households a maximum of $14 a year for 20 years, and a $40 million bond would cost typical households a maximum of $18 a year for 20 years.

To view the presentation, click here.