Title
Public Hearing and Vote on FY 2026-2030 Capital Improvement Plan
Purpose
PURPOSE/BACKGROUND:
The Capital Improvement Plan (CIP) is a recommended five-year expenditure plan that addresses the acquisition of property and equipment, new construction, and other major improvements to the City's capital assets. The FY 2026-2030 Manager's Recommended Capital Improvement Plan (CIP) includes projects with an estimated cost of $460,415,496, in the following expenditure categories and funding sources:
Expenditure Categories:
Economic Growth; Educated Citizenry; Excellence in Government; Family Resilience and Economic Empowerment; Living with Water; Placemaking; and Safe and Clean Community .
Funding Sources may Include:
General Fund Balance Transfer; Technology Fund; Committed Fund Balance Drainage Program; General Fund Operating Revenues; Dedicated Tax Increase for School Investments; Urban Maintenance Contribution; Capital Fund Balance; Economic Development Fund Balance; General Obligation Bond Proceeds; Hampton Roads Convention Center Fund; Solid Waste Fund; Stormwater Management Fund and Resilient Hampton Bond Proceeds; Transfer from the School Board; various funding programs of the Virginia Department of Transportation; and the Wastewater Management Fund.
The FY26 Manager’s Recommended Budget incorporates the first year of the five-year CIP as the Capital Budget component.
Impact:
The FY 2026-2030 CIP totals $460,415,496.
Recommendation:
Rec
Conduct a public hearing and vote.