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City officials present $460 million, 10-year capital plan and staff recommendations for shorter-term road fixes
Summary
City staff told the Board of Mayor and Aldermen the city has about $460 million of projected capital resources over the next 10 years, about $95.6 million of which remains unprogrammed; staff recommended funding a set of priority, mostly transportation projects and adopting recurring scoring and reporting processes.
City staff presented an updated 10-year capital investment plan during the Board of Mayor and Aldermen work session, saying the city forecasts roughly $460 million in available resources and $95.6 million of unprogrammed capacity for additional projects. Michael Walters Young, chief budget performance officer, and Paul Holson, city engineer, led the briefing and proposed a staff-prioritized list of near-term projects focused on transportation and a set of process improvements to guide future decisions.
The city’s financial model divides anticipated resources as roughly 70% cash and 30% debt, with current annual debt service at just under $19 million and a projected peak near $27.3 million in fiscal 2029. "The good news is you've got some capacity in the 10 year model," Walters Young told the…
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