Earlier this week, Raleigh voters approved the $275 million Parks Bond during the 2022 general election. Of the 159,510 ballots counted, 73.1% of people voted "yes.” This is the largest-ever parks and greenway bond for the City of Oaks to date.
So, what does this mean for Raleigh parks? We’ll break it down for you.
What’s a bond?
Bonds generate money from taxpayers to finance major projects. In other words, taxpayers will pay higher taxes in exchange for community-wide benefits, like those that come from building and improving parks.
Where exactly will the money come from?
Property owners. In this case, Raleigh’s property tax rate will increase by four cents. It’s estimated that the Parks Bond will cost the median city homeowner approx. $103 annually.
What will the new Parks Bond do?
The bond will support 20 park facilities and projects throughout Raleigh by expanding and improving current spaces, and by building new ones. Some of the notable projects the bond will help fund include:
- John Chavis Historic Park | $54.3 million | A new aquatic center, developing Heritage Plaza, and expanding historic interpretive displays.
- Dix Park | $43.1 million | Construction of the 18-acre Gipson Play Plaza, which will include a civic plaza, waterfall fountain, adventure play spaces, and a picnic grove. Learn more.
- Tarboro Community Center | $29.5 million | Redevelopment of Tarboro Road Park.
- Lake Wheeler Road | $21 million | Improvements and the addition of a multi-use bike and pedestrian path.
- Devereux Meadows | $11.5 million | Site remediation, stream restoration, and park improvements. Learn more.
Additionally, funds will be used to improve and expand Raleigh’s greenway system in corridors including Big Branch, Marsh Creek, and Walnut Creek.
Pro tip: View this interactive map to see where the city will allocate the Park Bond’s funds.
When will we see changes?
Work supported by the bond is expected to begin in July 2023. It will be implemented in phases over the next five to six years.