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Council receives Measure V revenue, project update; staff to fold priorities into FY26 CIP
Summary
Staff presented updated Measure V revenue projections, current commitments and project updates (including Multi‑Gen Rec Center construction status); council accepted the report and staff will bring Measure V priorities into the FY2025‑26 budget and CIP process.
City staff briefed the Tracy City Council on April 15 about current Measure V receipts, committed expenditures, completed and ongoing Measure V‑funded projects and the near‑term fiscal outlook. Finance staff and project managers presented an updated revenue projection, a list of commitments to capital and operating expenses, and construction status reports for legacy projects.
Budget staff reported that Measure V, the 2016 local sales-tax measure, has delivered more to the city than original early estimates and that updated receipts now project a higher 20‑year total than initial forecasts. Staff said current committed Measure V funds include the Multi-Generational Recreation Center (MultiGen) construction and debt service, Legacy Fields debt service, an Aquatic Center allocation, earlier senior‑center improvements and smaller allocations for planning and feasibility studies (Nature Park, Ritter Family Ballpark). Measures to date include a lease-revenue bond for the MultiGen facility; the project is under construction with the city reporting about 25% completion and that the work was on time and within the adopted budget at the time of the update.
Finance summarized that, after accounting for current project commitments and projected operations, there is a multi‑million-dollar balance currently uncommitted for council consideration; the report also showed the city’s projection of ongoing operating commitments that would begin as facilities open. Staff noted that if Measure V is not renewed beyond its 20‑year term (sunset in 2037), the city’s general fund could assume annual operating and debt costs in future years. Staff recommended that council confirm Measure V priorities and directed that the Measure V projections be folded into the FY2025‑26 proposed budget and CIP schedule.
Council accepted the staff update. Staff will include Measure V assumptions and project priorities when council reviews the proposed FY2025‑26 budget and preliminary CIP in late May and at the June CIP workshop.
