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Matthews commissioners approve limited bond sale for parks and road projects, 4‑3
Summary
After debate about timing and household cost, the board voted 4–3 to authorize staff to prepare paperwork for a $11,049,512 bond sale (scenario 3) to fund Purser‑Hulsey Park design/construction, East John/485 commitments and other park improvements.
The Town of Matthews took a first step toward issuing part of a voter‑approved bond package when the Board of Commissioners voted 4–3 to instruct staff and bond counsel to prepare paperwork for a spring bond sale in the amount of $11,049,512.
Town staff and financial advisors presented four funding scenarios for a subset of projects the voters approved in 2022. Scenario 3 — which the board adopted — would fund Purser‑Hulsey Park design and construction, East John Street/485 required improvements already underway, and a package of park improvements including smaller facility upgrades and a Riverbanks Greenway connector. First Tryon (financial advisor) modelled the tax impact on a median Matthews home (the advisory materials used an average valuation) and presented the estimated property tax increase under each scenario.
Supporters said the smaller, targeted sale is a conservative approach that moves high‑priority park work and an already‑committed NCDOT payment forward while protecting the town from waiting years and paying higher construction prices. Several commissioners said completing design and beginning phased construction now will produce clearer timelines for the community and allow the town to secure contracts before inflation drives costs higher.
Opponents raised concerns about the timing and cumulative tax burden on residents. Those members noted pending statewide and county‑level measures (a proposed county 1% sales tax referendum under discussion at the legislature and a separate school bond), as well as macroeconomic uncertainty, and urged caution. The no votes also urged staff to consider possible alternatives before borrowing, including delaying or phasing projects further.
The board’s motion directs staff to proceed with paperwork to place a bond sale on the April 1 calendar with the Local Government Commission and to return to the board for final authorization of the sale. The motion passed 4–3, with Mayor Pro Tem Gina Hoover, Commissioner John Tufano and Commissioner Mark DeFano recorded in opposition.
Becky Hawk, town manager, said the funds would be available to the town after the sale and that design and phased work could begin immediately. Staff will return with ordinance language, final borrowing documents and sale details for board approval prior to closing.
