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Tampa outlines $1.7 billion five-year CIP and debt plan, flags $252 million non-ad valorem debt and longer-term utility needs
Summary
City staff presented a five-year capital improvement program of roughly $1.7 billion with about $420 million in FY26 and described debt plans including a projected $252 million of non-ad valorem issuances over the next 3-5 years, a planned wastewater (pipes) program in the mid future (~$764 million) and a proposed long-term solid-waste refunding.
Dennis Rejero, chief financial officer, presented the City of Tampa's capital improvement program and related debt plan to the City Council, summarizing a five-year CIP totalling roughly $1.7 billion and debt issuance planning tied to major utility and public-safety projects.
The FY26 slice of the five-year CIP was shown at a little over $420 million, with the largest shares in utilities and transportation and notable allocations for fire-rescue over the five-year period. Rejero said the Community Redevelopment Agency also holds a significant portion of the CIP total on district maps included in the presentation.
On debt, staff described a conservative issuance strategy. Rejero highlighted a recent non-ad valorem issuance (about $66 million), noted the city has earned multiple credit-rating upgrades since 2019 (Fitch and Standard & Poor's cited as the highest ratings and Moody's at Aa1), and flagged potential non-ad valorem debt issuances of roughly $252 million over a 3- to 5-year horizon broken into programmatic needs (fire, mobility, parks, general government). He said wastewater/pipes program needs could total in the mid-hundreds of millions (presentation cited about $764 million) with timing to be driven by project schedules and spend-downs; staff also discussed consolidating short-term solid-waste debts into a long-term fixed-rate refunding bond.
Rejero emphasized the city's conservative glide path for annual non-ad valorem debt service and said staff avoid issuing debt before project spend-down to prevent paying interest on unused cash. No formal approvals occurred during the presentation; staff provided the plan for council and public information ahead of future issuance decisions.
