In a story for WRAL-TV, Raleigh voters get say on how to pay for wider streets, Brian Shrader reported voters will decide whether Raleigh can issue $206.7 million in bonds to finance expansion of some local roads and other transportation upgrades in the October 10 election.
Smith Anderson Partner Wayne Maiorano, a former Raleigh City Council member, is a member of the Bond Committee working with the Greater Raleigh Chamber of Commerce's Raleigh for Roads campaign advocating passage of the bond referendum. In outlining the many road and sideway infrastructure needs within the City, Wayne said, “this bond is going to address those needs effectively, whether it's large or small, immediate or future.”
WRAL-TV reports about $142 million of the bond is earmarked for streets—such as Six Forks Road, Blue Ridge Road, Tryon Road and Atlantic Avenue— while another $6 million would be used to convert Blount and Person streets to two-way road. $14 million would go to install sidewalks throughout Raleigh.
If approved, paying off the bonds would add $32 to the annual tax bill on a $250,000 Raleigh home.
Wayne co-leads Smith Anderson's Real Estate Development practice group. His practice focuses on construction, real estate development and land use and zoning. Wayne advises clients on all aspects of the construction process on commercial and residential projects, and he routinely represents parties in the construction and development industry, including owners, developers, contractors, sureties and lenders.
To view the WRAL segment and full article please click here.