North Charlotte Today

The Charlotte City Council has adopted the Fiscal Year (FY) 2025 Budget and FY 2025 – 2029 Capital Investment Plan, which will take effect on July 1, 2024. Key elements of the FY 2025 budget include significant capital investments to support community growth.

The budget increases funding for the Housing Bond from $50 million to $100 million to address affordable housing needs, marking the largest housing bond investment in the city's history. Additionally, there is a $300 million total investment in transportation and neighborhood bonds, also a record amount for Charlotte. Projects within the Corridors of Opportunity will see a $30 million investment.

A total of $55 million is allocated to support Strategic Investment Areas implementation, focusing on mobility and infrastructure funding where it is most needed. The budget also includes $50 million for sidewalk improvements to enhance walkability and safety in Charlotte.

Economic development partnerships are supported with $36.7 million, including infrastructure reimbursements for Atrium’s Innovation District and Ballantyne Reimagined. Street resurfacing receives an additional $24.6 million alongside State Powell Bill Distribution funding of $13.7 million.

Transportation safety enhancements receive a historic investment of $20 million under Vision Zero. Expansion projects at CMPD headquarters and the Police and Fire training academy are allocated $7 million, while new firehouses receive another $14.5 million.

Employee retention and investment remain priorities with a 5% salary increase for all hourly employees, including specific pay increases for police officers and firefighters up to 7.5%. Senior Police Officers and Sergeants will see advanced salary increases from January to November.

The budget also amends provisions to cover full healthcare insurance premiums for spouses and dependents of city employees killed in the line of duty. The minimum pay for hourly employees working 40 hours per week is raised to $23/hour.

A property tax increase of 1.37 cents supports capital investments, arts and culture, and city operations primarily related to public safety—marking the first such increase in six years while maintaining the lowest tax rate among North Carolina cities with populations over 75,000 residents.

Core services are maintained or enhanced under this structurally balanced budget that maintains operating reserves while investing in sustainable arts ecosystems with an allocation of $11 million for Arts and Culture initiatives.

Public safety enhancements include adding 57 new firefighter positions, three new Fire ladder companies, four new apprenticeship roles through collaboration with Charlotte Mecklenburg Schools (CMS), as well as one new energy coordinator focused on sustainability efforts including electric vehicle expansion.

Three service fee increases are proposed: solid waste ($0.78 monthly), stormwater (4.9%, equating to a $0.47 monthly increase), and water (5.75%, equating to a $4.37 monthly increase).

American Rescue Plan Act (ARPA) funds will support various initiatives such as Faith in Housing programs ($1.5 million), workforce development ($427,500), juvenile crime reduction programs ($1 million), CMS workforce housing Teacher Village ($1 million), arts festivals like Boom Charlotte ($100,000), active shooter kits ($143,950), portable ballistic shields ($97,500), along with several non-profit organizations receiving additional funding totaling over half a million dollars.

For more information about these initiatives within the FY 2025 budget visit charlottenc.gov/budget.

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