TASK FORCE
FUNDING STRATEGY RECOMMENDATION
Commit the RESOURCES to achieve the vision :
The Task Force proposes a clear and straightforward “ single source ” funding strategy for the mobility investment program ( TMN ) that considers the City and County ’ s growth over 30 years and fully funds implementation within a 10-year period financed over a 30-year timeframe . The Task Force understands that details of the financing will be worked out in a financing plan which considers other city priorities during the program timeframe .
Therefore , the Task Force recommends , “ One Cent for Mobility ”:
1 . A one cent sales tax for mobility projects ( transit and non-transit ) that excludes groceries and medication ( as currently ) to fund the local portion of the mobility investment program ( TMN ) with necessary State Legislative authorization and Mecklenburg County voter approval (“ One Cent for Mobility ” Referendum ).
2 . And ( if needed to augment the sales tax ), a significant one-time City of Charlotte Capital Investment Program ( CIP ) bond for mobility , supported through an increase in property tax and City voter bond approval .
3 . Committing to a “ One Cent for Mobility ” referendum in the Fall of 2021 .
72 HOW | The Funding Strategy