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Committee hears SDC explanation and hears capital improvement list contains many unfunded projects

Town of Talent Budget Committee · August 17, 2024

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Summary

Budget staff explained that system development charges (SDCs) fund capacity increases and may cover debt service on past projects; the capital improvement list contains many placeholders, including a Newbury Park line item of $359,000 with only $30,000 budgeted.

The Town of Talent’s budget staff told the committee on June 5 that system development charges, or SDCs, generally pay for two things: projects that increase capacity going forward (for parks, storm drain or water systems) and payments related to past capacity increases, such as debt service on previously built infrastructure.

Speaker 2 recommended that the town review all SDCs in the coming year to ensure charges keep pace with construction costs. Speaker 1 noted the SDC fund currently does not include transfers to parks or streets pending identification of qualifying projects.

Staff also emphasized that listing an item on the capital improvement list does not mean it is funded. As an example, a Newbury Park improvement is listed at $359,000 while only $30,000 is currently set aside in the budget. Speaker 2 said many capital items remain unfunded and are included on the list so they are not lost track of, not because they are ready to be built.