Title
Public Hearing and Vote on the Recommended Fiscal Year 2018-2022 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; Family Resilience and Economic Empowerment; Good Government; Living with Water; Place Making and Safe and Clean Community.
Funding sources may include: Economic Development Fund, General Fund; General Obligation Bond Proceeds; Stormwater Fund; Urban Maintenance Contribution; Virginia Department of Transportation (VDOT) Revenue Sharing State Match; VDOT SMART SCALE Funds; VDOT Congestion Mitigation and Air Quality Funds; VDOT Highway Safety Improvement Plan Funds; Urban Development Action Grant; Pearl Young Bench Grant Funds; and the Wastewater Fund.
Tier I and Tier II Strategic Priority projects as rated by Council and by the public during the budget survey process may be added in one or more of the categories outlined above in an amount up to $83,000,000 to further Council’s Strategic Priorities. The actual amount of those additions will be determined after Council and staff fully consider public input and project cost updates. Any such additions may be incorporated in FY18 Manager’s Recommended Budget and subject to discussion and adoption at the public hearings and meetings currently advertised for that purpose or may be incorporated at a later date, subject to additional public notice and hearings as may be required at that time.
The Planning Commission reviewed a proposed plan at its public hearing held on April 20, 2017 that included a five-year cost estimate of $210,452,102 and recommended that it be forwarded to the City Manager for inclusion in the City Manager’s Recommended Budget ...
Click here for full text