CAFR 2017

Department and Guilford County Emergency Services personnel, to be located on Burlington Road serving approximately 4,200 City residents and additional County residents. The City will construct the new station during FY 17-18 and open the station during FY 18-19.  Infrastructure / Growth – Greensboro residents passed bond referenda in 2006, 2008 and 2009 authorizing borrowing of more than $228 million for streets, fire stations, parks and other improvements. Much of these projects are complete with the remaining $65 million, mostly street improvements, scheduled for the next two to three years. The successful 2016 bond referendum includes $34.5 million for new parks capital improvements. $5 million are programmed for the initial development of the Battleground Parks District, an innovative concept that will integrate the current recreation options at the City’s Country Park with nearby Guilford Courthouse Military Park and the Greensboro Science Center. $3 million are allocated to citywide improvements to Greensboro’s many public tennis courts, and $4.5 million are included for further development at Gateway Gardens and Barber Park. For transportation enhancements, $4.5 million are allocated to new transit buses, $5 million for new sidewalk and intersection improvements, and $500,000 for renovations to the Galyon Depot. Voters also approved $25 million for various housing efforts, including $8 million for a Workforce Housing Initiative designed to make housing more affordable for working families with incomes slightly above poverty designations. Funds to support affordable multi-family housing, emergency repair programs, and housing for homeless and disabled veterans are also included. The City’s Capital Improvements Plan (CIP) totals $1.69 billion in identified projects and outlines a future financing plan to maintain our current infrastructure and develop new facilities as needed. Over one-third of the entire proposed Capital Improvements Plan is devoted to the City’s water and sewer infrastructure.  Customer Service/Diverse Workforce and Fiscal Management – The City’s focus on customer service, fiscal stewardship, transparency and accountability ensures the City has the right people doing the right job. The FY17-18 budget includes an average 3.0% merit increase for all employees, based on performance evaluation. The recommended budget also continues the Public Safety Step Program and includes a 7.5% increase for all sworn fire and police personnel. Bloomberg Philanthropies selected the City of Greensboro to participate in the “What Works City” program, which is supporting the City’s efforts to implement an Open Data policy that will make a variety of city information, statistics and data easier for the public to access. In addition, we also continue to make customer service improvements to our Development Services area to make the City’s technical review process easier to navigate and more business friendly. Greensboro's diverse economy is attributed to its unique blend of trade, manufacturing and service businesses as well as its universities and colleges. Local industry is characterized by the production of a wide range of products, including aircraft, machinery, electronics equipment, textiles, apparel and tobacco, and expansion in the aircraft maintenance, transportation and financial services industries. Greensboro is home to VF Corporation, a Fortune 500 company. Five of the top 60 companies on the Fortune 500 list have operations in Greensboro, these include: Proctor & Gamble, UPS, FedEx, AT&T and UnitedHealth Group. This area experiences an excellent market location which has access to all major domestic and international markets from Interstate Highways 40, and 85 and the Piedmont Triad International Airport (PTIA). Construction is underway for a new interstate system (I-73) that will span North Carolina, joining Detroit and Charleston, including Greensboro en route. In northern Greensboro, U.S. 29, between Danville and Greensboro, has also been designated as Interstate 785. The Urban Loop , a 44-mile state-constructed beltway around Greensboro, is in progress at a cost of approximately $1 billion, with over 30 miles of roadway completed. There are four projects in various stages of construction that will complete the remaining 15 miles of the 44-mile long loop around the city, starting at the western end near Piedmont Triad International Airport and working eastward to U.S. 70. The Southern and FACTORS AFFECTING FINANCIAL CONDITION A. Local Economy

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