Title
Public Hearing and Vote on the Fiscal Year 2021 - 2025 Capital Improvement Plan ("CIP")
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. Recommended projects may be in one of the following expenditure categories: Economic Growth; Educated and Engaged Citizenry; Good Government; Living with Water; Placemaking and Safe and Clean Community.
Funding sources may include: Capital Projects Committed Fund Balance; Federal Transportation Alternatives Funding; General Fund Operating Revenues and Fund Balance; General Obligation Bond Interest and Proceeds; Hampton Roads Convention Center Net Position; Public Safety Radio Replacement Lease; Stormwater Management Fund and Stormwater Resilient Hampton Bond Proceeds; various funding programs of the Virginia Department of Transportation ("VDOT"); Urban Maintenance Contribution; and Wastewater Management Fund.
The Manager’s Recommended Budget for Fiscal 2021 incorporates the first year of the five-year CIP as the Capital Budget component.
Impact:
The FY 2021 - 2025 Capital Improvement Plan totals $367,141,890.
Recommendation:
Rec
Conduct public hearing.