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Santa Fe County opens public hearings on 2027–2031 ICIP; managers flag $235M in projects and funding challenges
Summary
County staff presented a high‑level overview of the proposed FY2026 capital budget and the draft Infrastructure Capital Improvement Plan (ICIP) for 2027–2031, telling commissioners the county carries roughly $235 million in identified projects and that revenue bonds may be needed for major water and wastewater priorities.
Santa Fe County staff presented a high‑level review of the proposed fiscal year 2026 capital budget and opened the public hearing for the county’s draft Infrastructure Capital Improvement Plan (ICIP) for fiscal years 2027–2031 on June 24.
Manager Michael Schaeffer and finance staff emphasized that a significant pipeline of projects exists and that estimates remain variable due to inflation and market volatility. Staff reported roughly $235 million of projects in the county pipeline and noted that completing those projects — accounting for likely cost increases — would require substantial additional resources.
Schaeffer outlined financing options, noting the county could self‑fund projects over time or use debt financing. He identified revenue bonds as a practical approach to financing large water and wastewater infrastructure projects — including interconnects and reclamation‑system expansions — and estimated $50–$55 million in possible revenue bond proceeds assuming a $2.2 million annual pledge of capital‑outlay gross receipts tax and favourable terms.
The presentation also summarized available capital sources (capital outlay GRT, lodging taxes, state capital outlay, federal grants, appropriation and potential general obligation bond capacity) and noted constraints: construction cost escalation, incomplete designs, and projects previously thought to be “fully funded” that now show funding gaps. Staff urged commissioners to prioritize projects for the upcoming budget cycle and signalled plans for two special BCC meetings — July 10 and possibly July 8 or another — to develop the capital budget and ICIP prioritization further.
Public commenters and several commissioners pressed for clearer pipelines, timelines and examples showing how an idea becomes a funded, shovel‑ready project. County staff said they will collate project cost updates, add projects with funding gaps back into the ICIP where appropriate, and separate early‑stage feasibility studies from the list of shovel‑ready projects so the ICIP better reflects mid‑term implementation priorities.
The public hearing remains open, and staff will return with refined cost estimates, prioritized projects and funding proposals in follow‑up meetings.
