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Cary budget workshop flags capital needs: roads PCI slipping, Well 14 loan boosts water spending, parking fund steady
Summary
Staff showed the village’s pavement condition index below the target, summarized a long capital wish list that exceeds projected funding, and described water projects and water/sewer rate changes tied to the Well 14 project and an IEPA loan application. The commuter parking fund is stable but small.
At the March 15 workshop, Cary staff highlighted several capital and infrastructure pressures: roadway conditions are deteriorating relative to the village target, planned water projects (including Well 14) will increase enterprise expenditures in FY26 and the capital program contains more needs than available funding.
Roads: The village’s pavement condition index (PCI) target is 70 or better. Staff reported a current average PCI just above 62 and said roughly 39 percent of village roads are in poor or worse condition. With current Motor Fuel Tax (MFT) funding of about $720,000 a year, the presentation showed the PCI would decline over the coming years absent new funding. Director Noonan told the board the five-year road program is constrained by MFT allocations and that maintaining a satisfactory pavement network will require additional revenue sources.
Water and sanitation: Staff showed water and sewer revenues of about $11.3 million against projected expenditures of about $16.6 million for FY26, driven largely by the Well 14 project. That project is proposed to be financed with an Illinois EPA low-interest loan and some loan forgiveness; staff included a planned water/sewer rate increase of about 5.9 percent in the FY26 proposal. Director Noonan and water staff noted the village’s rates remain competitive with neighboring utilities but that the larger capital work will raise near-term enterprise expenditures.
Capital projects, grants and matches: Staff presented a five-year project list with roughly $65 million in possible projects but only about $38 million in projected funding across funds and grants. Several projects are tied to grant timelines that require local matching funds; staff warned that without available capital-match dollars the village could forfeit grant opportunities. Trustee discussion emphasized that many streetscape and plaza projects are grant-funded but still require local matches that must be budgeted.
Parking fund: The commuter parking fund was presented as largely stable since COVID; FY26 maintenance costs were shown at roughly $122,000, covering striping, minor asphalt repairs, signage, lighting, depot maintenance and energy for security cameras. Staff noted some underused permit parking areas and said they will examine reconfiguring permits to better serve current commuter demand.
Ending: Staff summarized that while the village is in a strong fiscal position overall, key capital funds are constrained; staff will return with more detailed project phasing, grant-match requirements and options for stabilizing capital funding.
