Asheville City Council on March 18 opted not to move forward with a bond referendum to see whether voters would be willing to raise taxes for sidewalks, greenways and community centers.

Council cited unstable economic conditions and a lack of sufficient time before the November election as reasons to drop the referendum idea.

The decision was made by consensus, not by vote.

However, council members plan to revisit the idea this summer, with a possible referendum to be held in 2009. They asked the city staff to come back with a report on how much debt the city can carry and how Asheville’s debt compares to other cities.

Asheville can sell a general obligation bond to fund specific projects. Property taxes would later be used to pay back the debt plus interest. Voters would have to approve such a bond.

Supporters of a bond say it could help boost city infrastructure and references. Furthermore, they argue, it would not necessarily lead to an increase in taxes, as the new debt could replace old debts that the city pays off.

About $1 million in debt will be paid off, which could be used to finance up to $10 million in debt Ben Durant, the city’s chief financial officer told council. Each subsequent year, more debt will drop off.

Councilman Brownie Newman said he wants to seek ways to make the most of city tax dollars so that property taxes do not have to be raised.