A summary of the February 23 4:00 p.m. meeting:
We discussed the Lake Norman Transportation Commission, a regional group created by the Towns of Cornelius, Davidson, Huntersville, and Mooresville in 2009. Their mission is to advocate and persuade local, state, and federal officials to give high priority to needed road, interstate, and commuter rail improvements which facilitate the quality of life in the Lake Norman region while providing the vital infrastructure needed for continued economic growth. More details are at: http://lakenormantrans.org/
The Town of Huntersville withdrew from this regional group (effective at the end of the fiscal year). The Davidson Board of Commissioners voted to withdraw from the LNTC starting in FY2017. They will reassess their decision at the March 8 meeting.
I reviewed a draft of the Capital Projects plan. The mayor and commissioners asked staff to look at all options available to us to finance capital projects in Davidson. If we are going to finance capital projects, the most inexpensive financing option is through general obligation (GO) bonds. GO bonds require the approval of voters via referendum in a general election. We are in the process of putting together a team of financial advisors and bond counsel to guide staff through the GO bond process. Staff is developing a list of projects. We are currently looking at two GO bond referendum items:
1) To support street and sidewalk projects
2) To support parks and recreation projects
More information will be forthcoming as we gather more data.