2021 Streets and Sidewalks Bond

During the November 2021 general election, citizens of Apex will have the opportunity to vote on a proposed general obligation bond. The bond referendum, for an amount up to $42 million, will be used solely for street and sidewalk projects.

Bond projects were selected based on many factors, including the results of:

  • Citizen Satisfaction Survey – The 2020 survey of citizens identifies management of traffic and overall maintenance of Town streets as top priorities.
  • Advance Apex: The 2045 Transportation Plan – Advance Apex prioritizes the three major roadway projects proposed for bond funding and completing sidewalk connections that create safe bicycle and pedestrian routes to schools.
  • The Downtown Master Plan and Parking Study  – The Downtown Plan recommends creating multimodal connections to downtown, including improving pedestrian crossings over the railroad at Center Street and Chatham Street. 
  • Internal processes including staff and Council ranking of Capital Improvement Program projects, and formation of Council strategic goals
  1. Walkability
  2. Connectivity
  3. Reliability

Blue MarkerPedestrian Projects

    • Estimated Cost: $9 million
    • Accelerates completion of sidewalk and crosswalk construction and enhancements to provide pedestrian routes to Apex schools
    • Improves railroad crossings and completes sidewalk gaps along two gateways to downtown Apex
    • Removes a barrier to pedestrian travel by completing a sidewalk gap along a major roadway

Project Descriptions

Safe Routes to School Sidewalk Projects

In 2018, an initial analysis of all sidewalk needs to provide safe pedestrian routes to every school in Apex was completed based on analysis of existing facilities, travel patterns, input from school officials, crash data, traffic volumes, and the availability of alternate routes. Each year, the Town is able to address a few of the needs identified. Bond funds would drastically accelerate this process. The specific projects and priorities would be refined and adjusted over the life of the bond based on updated analyses, changing travel patterns and conditions, completion of projects by development, and grouping projects so that they can be completed as efficiently as possible to leverage public funds. The goal would be to address all needs identified as a high priority.  

Click the image of our interactive map below to view all of the sidewalk needs that were identified as part of the safe routes to school analysis. If you have a safe routes to school sidewalk need that is not included in the map below, please complete this online form

NOTE: The satellite imagery on the interactive map was collected in 2017. 

Safe Routes to School Map  Opens in new window

Downtown Railroad Crossing Pedestrian Improvements 

These two projects include the addition of sidewalk across CSX railroad tracks as well as installation of gates and associated railroad equipment upgrades at Center Street and at Chatham Street. Improvements at the crossings would go toward the Town’s Quiet Zone eligibility for the S-line track in Downtown, to be re-evaluated following the project completion.  This project also includes sidewalk along E Chatham Street from S Mason Street to the cul-de-sac.  

Pictured below: Center Street Rail Crossing Map

downtown rail 1

Pictured below: Chatham Street Rail Crossing Map

downtown rail 2

W. Williams Street Sidewalk

The project would complete gaps in sidewalk along NC 55, connecting from the sidewalk in front of Beaver Creek Commons shopping center, crossing the US 64 ramp, connecting across the bridge over US 64, and extending to the intersection at Vision Drive. These sidewalk gaps impede pedestrian travel along a major thoroughfare and are unlikely to ever be completed by development or other projects.

Pictured below: W. Williams Street Sidewalk MapWest Williams Sidewalk Map

  1. Bond Financing and Repayment
  2. Project Timeline
  3. You've Asked

What is a General Obligation (GO) bond?

Bonds are a method used by towns and cities to finance major capital projects. They work similarly to your home mortgage, in that you finance a large purchase and pay it back over time. Because of the longer payback period (typically 20 years), the financial impact is not applied only to current residents, but also to citizens who move to Apex after the projects are complete and will also be potential users of the transportation infrastructure.

What are the benefits of paying for projects with bonds?

Since the Town of Apex has a very favorable bond credit rating, we can finance the repayment at a low interest rate. Bonds also enable the Town to complete major projects now, rather than wait until there is enough cash accumulated to pay for the project. Construction costs are currently increasing at a rate that exceeds the costs of borrowing, particularly in this area of the State. Building today can result in a significant costs savings and place the project in use much sooner. Bonds are sold competitively, resulting in the lowest possible financing cost at the date of the sale.

What is the impact on my property taxes?

An increase in property tax rate will be necessary to repay the bond debt. We anticipate an increase of 1.4 cents beginning July 2022, and another increase of 1.6 cents in July 2026. For the median home value in Apex of $327,800, this would result in about $98 more per year in property taxes if the full 3 cent increase was applied.

tax impact graphic

Why do residents vote on bonds?

GO Bonds are secured by a pledge of taxing power as voted by the citizens. Therefore, Apex residents will choose whether or not to authorize the 2021 Transportation Bond during this November’s general election.

What other types of financing can been used to pay for Transportation projects?

The town can apply for federal funds through various sources, primarily the Locally Administered Projects Program (LAPP). LAPP is a competitive funding program managed by the Capital Area Metropolitan Planning Organization that prioritizes projects in our region. Learn more about this program and other funding on this page.

What happens if the economy goes bad?

The referendum only provides the approval for the Town to issue up to a certain amount of bonds. However, the Town is not required to issue any debt. The Town Council must still approve each bond sale when the time comes to get started on each project. They may choose to delay, reduce the amount sold or not sell bonds at all depending on the financial climate at the time.