Making Business Better in Union County
On November 8th, 2022, voters in Union County will have the opportunity to approve or reject a general obligation bond request for $32,725,000 to construct a new Center for Entrepreneurship for South Piedmont Community College. To learn more about the bond request, the proposed Center for Entrepreneurship, and SPCC, the college has provided an FAQ below.
Q: What is on the ballot?
A: On the general election ballot this November, you’ll find two bond questions. The bond question relating to the Center for Entrepreneurship is named “Union County Community College Bonds”
The bond language reads:
SHALL the order authorizing $32,725,000 of bonds plus interest to pay the capital costs of providing for the construction, renovation, improvement, equipping and furnishing of facilities for South Piedmont Community College and the acquisition of land or rights-of-way, if necessary, and providing that additional taxes may be levied in an amount sufficient to pay the principal and interest on the bonds be approved?
Voters who choose to complete this section of the ballot will be offered two options:
YES and NO
If the majority of votes on this ballot question are YES, the measure will pass. Bonds will be
raised and the funding will be provided to South Piedmont Community College.
If the majority of votes on this ballot question are NO, the measure will not pass. No bonds will
be raised and funding will not be provided to South Piedmont Community College.
Q: What will the requested bonds pay for?
A: If the measure passes, the bonds will pay for the construction of South Piedmont Community College’s Center for Entrepreneurship. The funds would be used solely for the construction of this facility. The college already owns the land rights where it plans to build the Center for Entrepreneurship, thanks to a generous donation from the late L. Carlton Tyson and his family.
The Center for Entrepreneurship will be a collaborative, innovative hub of learning and support designed to help businesses and entrepreneurs in Union County. See the FAQ Section “About the Center for Entrepreneurship” to learn more about the proposed community center.
Q: Why is this question on the ballot?
A: South Piedmont Community College has completed a rigorous process to procure funding for constructing a Center for Entrepreneurship. This process included in-depth conversations with state and local elected officials, efforts to secure funding privately, and grant opportunities.
None of those options were viable for the timely completion of the project. After consultation with the Union County Board of County Commissioners, it was decided this was the best option to construct the Center for Entrepreneurship.
Q: If the bond question passes, what is the implication on my annual taxes?
A: The difference in property tax rates if the Community College Bond passes will be eighty-five hundredths (0.85) of one penny with payment not starting until 2024.
In real dollars, this means that your property tax would increase by 0.85 cents per $100 in value. This translates to an additional $8.50 on a $100,000 home annually. You can click here to view the image in full size.