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Preliminary 2026–2030 capital plan shows $125 million shortfall; bonding cap limits 2026 availability to about $71 million
Summary
Staff told the committee that available county bonding and cash for 2026 is roughly $71 million while project requests total about $196 million, producing an estimated shortfall of approximately $125 million; large items and mandated projects already consume much of the cap.
County budget staff presented an informational overview Aug. 19, 2024, of preliminary financing goals and departmental capital requests for the 2026–2030 capital improvements plan.
Staff said the county—9s bonding cap policy limits growth in non‑airport general obligation bonds to no more than 3% over the prior year. Using a base 2025 bonding amount of about $55.2 million, staff calculated a 2026 bonding cap of about $56.8 million and a 20% cash goal of roughly $14.2 million, for total estimated county financing of about $71 million for non‑airport capital projects.
The initial set of departmental requests totals roughly $196 million for 2026, producing an estimated shortfall of approximately $125 million (about $63 million in bonding shortfall and about $62 million in cash shortfall). Staff noted that a significant share of requests are ongoing or mandated projects and that those items alone put pressure on the available cap.
Examples of large ongoing and new requests cited by staff include the Bayview revetment (about $18 million), the Woodnoll Golf improvements (irrigation and curb paths), zoo front entrance construction, Washington Park service yard construction, and a multi‑year fleet and vehicle replacement program that the presentation estimated at about $7 million for 2026. Staff said the Bayview and the fleet program together absorb roughly 21% of the available bonding cap for 2026.
Staff also flagged major proposed projects under consideration that would materially affect future bonding capacity, including an estimated $474 million new courthouse complex and a possible $30 million package for the Mitchell Park Domes, both cited as potential binding cap overages if adopted.
Transit officials did not submit bus replacement requests for 2026, staff said, because a new EPA engine mandate is producing major changes in bus engine design; transit told the county it will defer purchases one year to avoid first‑generation problems and improve reliability.
Staff provided a high‑level breakout of bond‑eligible and cash‑funded projects, noting that bond proceeds are limited by federal and state rules to certain eligible project types and that nonbondable projects must be financed with county cash or other sources such as grants or private contributions.
The committee was briefed on the five‑year capital improvement plan (CHIP) as a planning tool: the first year (2026) is the actionable budget year while years 2–5 are planning years and estimates in those years are conceptual and subject to change. Staff said the subcommittee will complete project scoring and circulate results; departments will then have an opportunity to present testimony at the next CIC meeting before final advisory recommendations are made.
