Albertson discusses benefits of $2 billion bond
By Phyllis Moore
Published in News on February 28, 2016 1:45 AM
Wayne Community College President Dr. Kay Albertson is most enthusiastic about the $2 billion bond package that will be included on the March 15 ballot, but not just because $5.8 million is earmarked for repairs and renovations at the local institution.
The Connect NC Bonds Act, which boasts no tax increases to finance it, is also supporting the National Guard, state parks like Cliffs of the Neuse, universities and water and sewer infrastructure in the state.
It has been 15 years since the last general obligation bond was issued in 2000, she said, so this effort is particularly significant.
"I'm just excited that the college will have the money, hopefully, and that the community will have the monies to support some of those things that are really necessary," she said last week. "Who amongst us hasn't been affected by the National Guard? Who doesn't enjoy travel and tourism in our own Cliffs of the Neuse, which stands to benefit from almost $700,000? Who hasn't enjoyed that?
"And if we don't recognize the importance of agriculture, with what this bond can do and will do in reference to agricultural research and the support that it's going to give to N.C. State (University), that's another partnership."
She says this is the right time for North Carolina to borrow money, noting that the city, county, chamber and WCC board of trustees have all banded together to support the bond. Just as important, she said, is the fact that every one of the local legislators have also backed the initiative.
"This really has been a non-partisan bond," she said. "That's incredible.
"This is about North Carolina. That excites me to think about it."
Broken down, about two-thirds of the $2 billion bond will benefit higher education, 16 percent for improvements in parks and in sewer and water infrastructure, 9 percent to agricultural projects, 5 percent for the state zoo and 4 percent to the National Guard and public safety.
At the college, the bulk of the funding will go to upgrades and renovations, albeit not necessarily "glamorous" line items, Mrs. Albertson said.
"But these are infrastructure needs that are essential to operating a safe and a comfortable and an efficient college, and by using the state bond funds for repair, and renovations for WCC, I don't have to request those funds from our county and from the taxpayers and the county," she said. "As we all know, the county commissioners are responsible by statute for the upkeep of our facilities at the community college level and this is, I believe, one of the reasons that the bond is so important at this time."
The majority of the money WCC receives will be designated for safety upgrades, particularly significant in light of the shooting that occurred on the campus this past spring.
"Having lived through April 13 of 2015, I think that Wayne has become a voice for how important safety is," she said.
The addition of the Advanced Manufacturing Center will also benefit from the funds and in turn will free up approximately 21,000 square feet of space on the Goldsboro campus vacated by programs relocating to the center.
"This of course is also going to save the taxpayer money because down the road we were going to be asking for at least a facility," she said. "This way we can take current space, renovate, make it purposeful for existing programs and future programs, and that's a win for everybody."
Mrs. Albertson said she has not heard when funds might be released if and when the bond passes, but right now is more focused on drawing the public's attention to its place on the ballot.
She pointed out that when voters go to the polls for the primary -- particularly those who turn out for early voting, which starts this week -- the "simple yes or no" option can be found on the back of the ballot. And unlike the primary's role leading up to the regular election in November, the bond will be decided March 15.
"All the steps are already laid out. We've obviously been encouraged to have our projects outlined and in place and to do a lot of the front end so that all of us can move forward as rapidly as we possibly can and getting the projects kick-started," she said. "I think we'll be able to draw it down relatively soon.
"I don't know the specific date, but we'll know the night of the 15th. It's just like in the past with the 2000 bond. It's paid off over a period of time with very low interest at this point. There are no extra burdens on the taxpayer, which I think is wonderful."