The Apex Town Council talked about the upcoming budget (including citizen survey results), capital projects, a park's bond, and our work session schedule
I would love to see Kelly Park/Kidstowne keep a similar design if remodeled. The lower to the ground “castle” design is so unique. All other new playgrounds are so similar so we really enjoy Kidstowne.
Thank you for the information. I, for one, appreciate your serving and providing information that all of us should know and take an interest in knowing.
I don’t agree to continue using bonds for upcoming projects. Taxes continue to increase for everyday working people. The town has to find other ways than placing continuous bonds up for a vote. Work within a budget like we all have to.
Taxes would have to go up much, much higher to "paygo" major projects, and then you're left with the situation I described in another comment where existing residents paid the entire cost of a park and new residents get it "for free". Bonds are the most financially efficient way to fund them.
There is no way a major park would fit inside an annual budget. It's just too large. It has to be spread out over many budgets. That's exactly what a bond does
Sounds like decisions need to be made on necessity of said projects. We have enough parks, the fact that traffic is bad and roads need widening and management is due to the rapid growth rate of high density approved by this council and previous ones. Yeah I've heard the rate has “decreased” but that doesn’t register when there is literally construction all around and quality of life where I live has decreased because of it. I voted against the library bond last year for this reason. I’m tired of the powers that be “borrowing” my money. But I digress. It’s all for naught.
Terry, thanks for your response. I fully understand the reasoning behind financing. However, what if every citizen and government entity lived by borrow, borrow, borrow and thus every project is more expensive due to interest - this is what causes bankruptcy of private citizens and municipalities. Additionally, bonds become more expensive for municipalities as they get further and further into debt. Also, who's going to buy a 2% bond?
I certainly would not consider "Paygo" as being unfair to any citizen - present or future. Municipal improvements are what attracts people to the area, producing more tax payers and more tax revenue to maintain these improvements and develop additional projects as needed. This circular reasoning is why we have a $36 Trillion federal debt - but in this case it is our kids, grandkids and great grandkids and great, great grandkids... (well you get the concept) that will be paying off our irresponsible current spending.
Lastly, having money in the bank collecting interest is never a bad thing - now your money is actually working for you and growing.
Anyhow, I appreciate the back and forth debate over our differences of opinions. I guess this is why the bond you are asking about currently has a 50/50 opinion on approval.
We don’t just borrow borrow borrow - we manage our debt levels closely and responsibly. Our AAA rating reflects that. I’d advise everyone else to do the same.
I agree that with our massive growth, we need to focus on transportation infrastructure! I do NOT support a $97M bond at all. If that means we don't add another major park, that's fine. If people really want a park, they should pay for it directly. Our parks are already fantastic, and our taxes are plenty high. Thank you for all the notes!
Great news! We had a transportation bond in 2021 that is funding a ton of transportation and infrastructure projects, sidewalks, etc - including the Peakway Bridge you see under construction now. There are still many other named projects funded by that bond to come (including the Peakway North widening, Jesse Drive, to name the two big ones left after the bridge)
With a growing community there is a demand for ever more park space, and the north west of Apex is a growing population center that doesn't have the amenities that other areas of the town do. They are all tax payers and certainly deserve to have amenities near them just like the rest of us, right?
(We actually have Park land for another major park to be built after the future Wimberly park, but that'll probably be another 5 years after Wimberly gets built)
We recently completed a parks master plan which identified the needs going forward. Stop by one of our amazing parks on a beautiful spring Saturday and you'll see it's PACKED - or try to register for a soccer league outside or other programming in our parks, and I think you'll agree that more park space is needed for the community!
I think we should pay the existing bonds off before taking on more debt for the future! We already have the transportation and library bonds. The desire to add debt (taxes) is in direct opposition to the desire for affordable housing. I vote that we keep taxes as low as possible to make living here more affordable for everyone.
We closely manage our debt levels and only borrow for additional projects when we have the capacity to do so. Our financial position is very strong and a bond of this size is what is responsible to borrow at that point in time.
Btw the library bond was the county, not the town
We will of course work to keep taxes as low as possible! I think this is obvious as we do have the second lowest tax rate in the area (just slightly higher than Cary). But we do have to provide municipal services and amenities expected by our residents.
I'm very aware the library bonds is from Wake Co. We still have to pay it, making it more expensive to live here. I'm very glad we're in a strong position and think we should save for the next big project to be even stronger. Yes, even if costs go up a little in the future. Most residents also want the lowest taxes possible, even if we might have to delay an amenity (I'm not saying to kill it forever). I'm just offering my opinion.
Terry are there any plans to widen downtown streets? Several such as the far end of e Chatham are impossible almost for two cars. Plus parking when the town holds events. Car on both sides, almost impossible to drive a truck through there.
On our comprehensive transportation plan there are many streets around town planned to be widened at some point, but none are located directly downtown
No on Bonds. Bonds are simply financing, and as a result, the project carries interest and costs much more of the citizens hard earned tax dollars. Wait till the money is available, then do it.
Ok. Just thinking it through. But what if it takes us 10 years to save up the money to do it, and at that point the cost of construction and land has doubled? Wouldn’t it have been better to borrow the money at 2% a decade ago, and plus we would have had the park 10 years more?
Plus. The principle of the matter. You want the town to collect tax dollars from you and, just let them sit in the bank?
Also. Paygo (as it’s called) is unfair in the sense that the existing residents pay for the entire cost of the project (park in this case). Someone who moves in tomorrow gets the park “for free”. Shouldn’t they pay as well?
These are basically the reasons why every major project is funded by financing. Smaller stuff it makes sense to paygo.
Hi, thank you for all the information! How about “Finish Downtown Already”? Is there a plan with dates and a finish line in the works? I know the parking area is first and it already started, can we learn some more on next steps and estimated completion as of now? Thanks!
OK! What’s happening with the street? The plan as we saw it in the original design looked amazing, is it still on? Many things were just proposed or suggested use. Are they on track to materialize? Some business have left, are other businesses already on the waiting list that you know of? Thanks!
I would love to see Kelly Park/Kidstowne keep a similar design if remodeled. The lower to the ground “castle” design is so unique. All other new playgrounds are so similar so we really enjoy Kidstowne.
Thank you for the information. I, for one, appreciate your serving and providing information that all of us should know and take an interest in knowing.
Thank you for putting the effort to explain everything. I have a much clearer understanding now.
I don’t agree to continue using bonds for upcoming projects. Taxes continue to increase for everyday working people. The town has to find other ways than placing continuous bonds up for a vote. Work within a budget like we all have to.
Taxes would have to go up much, much higher to "paygo" major projects, and then you're left with the situation I described in another comment where existing residents paid the entire cost of a park and new residents get it "for free". Bonds are the most financially efficient way to fund them.
There is no way a major park would fit inside an annual budget. It's just too large. It has to be spread out over many budgets. That's exactly what a bond does
Sounds like decisions need to be made on necessity of said projects. We have enough parks, the fact that traffic is bad and roads need widening and management is due to the rapid growth rate of high density approved by this council and previous ones. Yeah I've heard the rate has “decreased” but that doesn’t register when there is literally construction all around and quality of life where I live has decreased because of it. I voted against the library bond last year for this reason. I’m tired of the powers that be “borrowing” my money. But I digress. It’s all for naught.
Great news! We have gone through that process, and the projects here are the ones that "made the cut" as being necessary.
Taxes are an issue. It will get to the point that folks will leave because of the high taxes.
Ours doubled last year.
Thanks for being transparent Terry.
Terry, thanks for your response. I fully understand the reasoning behind financing. However, what if every citizen and government entity lived by borrow, borrow, borrow and thus every project is more expensive due to interest - this is what causes bankruptcy of private citizens and municipalities. Additionally, bonds become more expensive for municipalities as they get further and further into debt. Also, who's going to buy a 2% bond?
I certainly would not consider "Paygo" as being unfair to any citizen - present or future. Municipal improvements are what attracts people to the area, producing more tax payers and more tax revenue to maintain these improvements and develop additional projects as needed. This circular reasoning is why we have a $36 Trillion federal debt - but in this case it is our kids, grandkids and great grandkids and great, great grandkids... (well you get the concept) that will be paying off our irresponsible current spending.
Lastly, having money in the bank collecting interest is never a bad thing - now your money is actually working for you and growing.
Anyhow, I appreciate the back and forth debate over our differences of opinions. I guess this is why the bond you are asking about currently has a 50/50 opinion on approval.
We don’t just borrow borrow borrow - we manage our debt levels closely and responsibly. Our AAA rating reflects that. I’d advise everyone else to do the same.
I agree that with our massive growth, we need to focus on transportation infrastructure! I do NOT support a $97M bond at all. If that means we don't add another major park, that's fine. If people really want a park, they should pay for it directly. Our parks are already fantastic, and our taxes are plenty high. Thank you for all the notes!
Great news! We had a transportation bond in 2021 that is funding a ton of transportation and infrastructure projects, sidewalks, etc - including the Peakway Bridge you see under construction now. There are still many other named projects funded by that bond to come (including the Peakway North widening, Jesse Drive, to name the two big ones left after the bridge)
With a growing community there is a demand for ever more park space, and the north west of Apex is a growing population center that doesn't have the amenities that other areas of the town do. They are all tax payers and certainly deserve to have amenities near them just like the rest of us, right?
(We actually have Park land for another major park to be built after the future Wimberly park, but that'll probably be another 5 years after Wimberly gets built)
We recently completed a parks master plan which identified the needs going forward. Stop by one of our amazing parks on a beautiful spring Saturday and you'll see it's PACKED - or try to register for a soccer league outside or other programming in our parks, and I think you'll agree that more park space is needed for the community!
I think we should pay the existing bonds off before taking on more debt for the future! We already have the transportation and library bonds. The desire to add debt (taxes) is in direct opposition to the desire for affordable housing. I vote that we keep taxes as low as possible to make living here more affordable for everyone.
We closely manage our debt levels and only borrow for additional projects when we have the capacity to do so. Our financial position is very strong and a bond of this size is what is responsible to borrow at that point in time.
Btw the library bond was the county, not the town
We will of course work to keep taxes as low as possible! I think this is obvious as we do have the second lowest tax rate in the area (just slightly higher than Cary). But we do have to provide municipal services and amenities expected by our residents.
I'm very aware the library bonds is from Wake Co. We still have to pay it, making it more expensive to live here. I'm very glad we're in a strong position and think we should save for the next big project to be even stronger. Yes, even if costs go up a little in the future. Most residents also want the lowest taxes possible, even if we might have to delay an amenity (I'm not saying to kill it forever). I'm just offering my opinion.
Terry are there any plans to widen downtown streets? Several such as the far end of e Chatham are impossible almost for two cars. Plus parking when the town holds events. Car on both sides, almost impossible to drive a truck through there.
No
On our comprehensive transportation plan there are many streets around town planned to be widened at some point, but none are located directly downtown
https://www.apexnc.org/DocumentCenter/View/487/Transportation-Plan---Thoroughfare-and-Collector-Street-Plan-Map-PDF?bidId=
No on Bonds. Bonds are simply financing, and as a result, the project carries interest and costs much more of the citizens hard earned tax dollars. Wait till the money is available, then do it.
Ok. Just thinking it through. But what if it takes us 10 years to save up the money to do it, and at that point the cost of construction and land has doubled? Wouldn’t it have been better to borrow the money at 2% a decade ago, and plus we would have had the park 10 years more?
Plus. The principle of the matter. You want the town to collect tax dollars from you and, just let them sit in the bank?
Also. Paygo (as it’s called) is unfair in the sense that the existing residents pay for the entire cost of the project (park in this case). Someone who moves in tomorrow gets the park “for free”. Shouldn’t they pay as well?
These are basically the reasons why every major project is funded by financing. Smaller stuff it makes sense to paygo.
Hi, thank you for all the information! How about “Finish Downtown Already”? Is there a plan with dates and a finish line in the works? I know the parking area is first and it already started, can we learn some more on next steps and estimated completion as of now? Thanks!
Broadly speaking, parking lot this year, street next year, probably the Depot parking lot after that.
OK! What’s happening with the street? The plan as we saw it in the original design looked amazing, is it still on? Many things were just proposed or suggested use. Are they on track to materialize? Some business have left, are other businesses already on the waiting list that you know of? Thanks!
Yeah, that’s still on. More or less.
Hope the end result is at least close to the original plans. Main Street area will define the whole town. Please keep us updated. Thanks!