Title
Public Hearing and Vote on the Recommended Fiscal Year 2019-2023 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: the Economic Development Fund, General Fund; General Obligation Bond Proceeds; Stormwater Fund; Urban Maintenance Contribution; VDOT SMART SCALE Funds; VDOT Congestion Mitigation and Air Quality Funds; Urban Development Action Grant Funds; Hampton Roads Convention Center Fund; and Wastewater Fund.
The Planning Commission reviewed a proposed plan at its public hearing held on April 19, 2018 that included a five-year cost estimate of $288,706,286 and recommended that it be forwarded to the City Manager for inclusion in the City Manager’s Recommended Budget for Fiscal 2019. The City Manager’s Recommended Budget for Fiscal 2019 is based on a five-year cost estimate of $288,706,286, however, only the first year of the CIP is incorporated in the City Manager's Recommended Budget for Fiscal Year 2019.
Notice of the public hearing was duly advertised in the Daily Press on April 12, 2018 and April 19, 2018.
Recommendation:
Rec
Conduct Public Hearing.
City Manager recommends approval on the CIP following the Public Hearing.