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North Carolinians for Jobs & Progress - Vote for Amendment One Page 1 of 2 <br /> <br />0 v~ ~v~ ~x~,r ExAMr'L~S <br /> <br />Newsroom <br /> <br />back <br /> <br />For Immediate Release <br />May 3, 2004 <br /> <br />Contact: Leslie Bevacqua Coman <br />(919) 834-1406 <br /> <br />STATEWIDE CAMPAIGN LAUNCHED TO BRING JOBS TO <br />NORTH CAROLINA <br /> Amendment will create jobs without tax hikes <br /> <br />Raleigh, N.C. - A broad-based coalition seeking to bring a <br />critical job development tool to North Carolina - currently used <br />in 48 other states - launched a statewide campaign today. <br /> <br />North Carolinians for Jobs & Progress is spearheading the effort <br />to pass Amendment One - or self-financing bonds - on the <br />ballot in November. North Carolina and Arizona are the only <br />states that do not use this tool. <br /> <br />Self-financing bonds are used I:o pay for public improvements <br />in partnership with private investment within a designated <br />development district. Projects can include streets, water and <br />sewer service and sidewalks. The additional tax revenues from <br />the increased property values in the district are used to pay off <br />the bonds. No tax increases are necessary to pay back self- <br />financing bonds. <br /> <br />Self-financing bonds also can finance improvements for <br />projects to re-develop abandoned factories and plants, to build <br />new manufacturing plants, affordable housing, community <br />revitalization, business incubators and commercial <br />development. They are a tool that communities can choose - <br />but are not required - to use. More than 95 percent of self- <br />financing bonds have succeeded across the country. <br /> <br />North Carolina's approach to these bonds is one of the most <br />conservative in the country. All bonds must be approved by the <br />State Local Government Commission. In more than 50 years, <br /> <br />A successful vote on <br />self-financing <br />development bonds <br />make a difference for <br />every community - <br />urban, suburban and <br />rural. <br /> <br />Contact Us: <br /> <br />iNorth Carolinians for Job <br />land Progress <br />iP.O. Box 27845 <br /> !Raleigh, NC 27611 <br /> <br />http://www.amendmentone.org/20040503.html <br /> <br />7/31/2004 <br /> <br /> <br />