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Learn about City of Charlotte Investor Relations, including Key Projects, The Team, and Credit Summaries.
The City of Charlotte, North Carolina, centered between the Appalachian Mountains and the Atlantic Ocean, was incorporated in 1768. With an estimated population over 959 million in 2021, Charlotte is the 15th largest city in the United States.
The City has a diversified economy comprised of a broad range of industries, including finance, healthcare, energy, higher education and international business. Charlotte has seen increased tourism and new businesses relocating to the area every year because of its strategic geographic location, sound regulatory environment, growth prospects, and relatively low business costs. As a result, Charlotte’s economy has seen positive gains in employment, population, tax base, revenues and overall strength and size of its economy.
Capital Planning and debt capacity forecasts are an important part of the City’s overall debt policies and strategies. Fixed rate bonds, refundings, bank draw programs, variable rate debt and interest rate swaps are methods employed by the City to diversify its debt portfolio, increase debt capacity and provide savings for the City. PAYGO funding and fund balance policies are employed to reduce risk. The City of Charlotte Finance Department has responsibility for debt issuance across all City Departments, including, Airport, Water and Sewer, Storm Water, Transit, Municipal facilities and
equipment and Tourism.
The City issues voter-approved general obligation bonds to finance the acquisition or construction of major capital items. North Carolina General Statutes limit the amount of general obligation debt that the City can issue to eight percent of the total assessed value of taxable property.
The City has available a short-term general obligation bond anticipation note program to finance street improvements, neighborhood improvements, public improvements and housing projects. The note will be replaced by general obligation bonds.
The City utilizes installment purchase contract financings secured with collateral for public safety, capital equipment and other government facilities. In accordance with State statutes, no deficiency judgement may be rendered against the City for amounts owed and taxing power of the City may not be pledged directly or indirectly to collateralize amounts due pursuant to these contracts.
The Charlotte Regional Visitors Authority (the "CRVA"), a component unit of the City, focuses on tourism promotions and facilities management for the City. CRVA manages operations at the Charlotte Convention Center, NASCAR Hall of Fame, Bojangles’ Coliseum, Ovens Auditorium and Spectrum Center.
The City also offers diverse facilities for cultural programs, the arts, and nature and science activities. The Discovery Place, a science and technology museum which features an Omnimax theater and the Spitz planetarium. The Duke Energy Center anchors the City’s uptown cultural campus, the Levine Center for the Arts. Levine Center for the Arts also includes the Mint Museum of Art, the Bechtler Museum of Modern Art, the Knight Theater, which is the home of the Charlotte Ballet, and the Harvey B. Gantt Center for African-American Arts and Culture.
In 1889, the City of Charlotte purchased The Charlotte Water Works Company for $226,400. At the time, The Charlotte Water Works Company maintained 76 hydrants and had a pumping capacity of 1 million gallons per day. Today, the successor of The Charlotte Water Works Company, Charlotte Water, remains a department of the City of Charlotte and provides water and wastewater services to the residents and businesses of Mecklenburg County. This includes the City of Charlotte as well as the Towns of Matthews, Mint Hill, Pineville, Huntersville, Davidson, and Cornelius. Charlotte Water also has connection agreements with multiple surrounding counties and towns. Charlotte Water’s rate structure is designed to produce revenues sufficient to provide for operating expenses, debt service and adequate working capital.
Today, the water system has a total treatment capacity of 242 million gallons per day ("MGD"). Its average water processing in Fiscal Year 2019 was 109 MGD. A maximum day water demand of 169.2 MGD was reached in August 2007. The water sources for the system are the Mountain Island Lake impoundment and the Lake Norman impoundment, both on the Catawba River. The sanitary sewer system has a total permitted treatment capacity of 131 MGD. The average wastewater treatment rate in Fiscal Year 2019 was 91 MGD. Charlotte Water’s distribution system contains 4,393 miles of water pipes and 4,376 miles of wastewater pipes.
WATER SYSTEM TREATMENT CAPACITY AS OF 12/31/2021
SANITARY SEWER SYSTEM TREATMENT CAPACITY AS OF 12/31/2021
Charlotte-Mecklenburg Storm Water Services ("Storm Water") is a joint municipal/county storm water utility that includes the City and the surrounding towns of Davidson, Huntersville, Matthews, Mint Hill and Pineville in the County. Today, Charlotte has over 150,000 storm drains, 3,800 miles of underground stormwater pipes and 2,400 miles of open drainage and streams. Storm Water works to manage the runoff from rainfall, reduce flooding, restore floodplains and protect the quality of surface waters. Storm Water plans, designs, constructs and maintains storm water infrastructure to reduce flood risks and protect the traveling public. The utility is self-funded through user fees, which are based on a parcel's impervious surface area, such as rooftops, driveways and private walkways.
NUMBER OF STORM DRAINS AS OF 12/31/2021
MILES OF PIPE AND OPEN STREAMS AS OF 12/31/2021
CATS is the largest transit system between Washington, D.C. and Atlanta. CATS consists of bus, light rail, streetcar, paratransit and vanpool services. CATS operates more than 70 local, express and regional express bus routes, which serve the County and surrounding counties, including Gaston, Cabarrus and York, with a fleet of more than 300 buses. The LYNX Blue Line is the State's first light rail service and travels nearly 20 miles between the south and northeast sections of the City with a terminus on the main campus of UNC Charlotte. Its fleet consists of 42 light rail vehicles. Phase 2 of the CityLYNX Gold Line streetcar service began operation in 2021 and extended the current streetcar segment by 2.5 miles to provide a total of four miles of service with a fleet of six hybrid modern streetcars.
MILES OF LIGHT RAIL AS OF 12/31/2021
NUMBER OF BUSES AS OF 12/31/2021
The Airport occupies approximately 6,000 acres of land within the County and is located approximately seven miles west of the City's central business district. The Airport currently has four runways, all equipped with precision instrument landing systems. The Airport is a gateway for international travelers and is a port of entry and export with customs service and a foreign trade zone designation at the Airport.
As of June 30, 2021, the Airport averaged 1,300 plus daily aircraft operations and serving approximately 187 nonstop destinations areound the globe. According to the Bureau of Transportation statistics, the Airport was the 12th busiest airport in the nation in terms of enplaned passengers for calendar year 2018. The Airport is served by seven domestic carriers and one foreign flag carrier as of June 30, 2021. The Airport currently serves as the second busiest passenger hub for American Airlines, the world's largest airline, which operates about 91% of the Airport's daily flights. The Airport is also served by several cargo airlines and is the base for approximately 65 general aviation aircraft. A unit of the North Carolina Air National Guard and other aviation support facilities are also located at the Airport.
NUMBER OF GATES AS OF 12/31/2021
NUMBER OF DESTINATIONS AS OF 12/31/2021
NUMBER OF DAILY DEPARTURES AS OF 12/31/2021