Council approves five-year capital plan and refers $22.96M bond measures to ordinance committee

The Stratford Town Council on June 11 approved the town's Capital Improvement and Equipment Plan for fiscal years 2025 through 2029 and referred two related ordinances to the ordinance committee that together outline an anticipated $22,956,515 in appropriations and bond authority for public improvements and equipment.

Councilmember Long moved approval of the five-year plan; the body approved the resolution by voice vote. Separately, councilors referred Ordinance 6.10.3 (an appropriation of $22,956,515) and Ordinance 6.10.4 (authorizing issuance of $22,956,515 in bonds) to the ordinance committee for further drafting and review.

Council discussion focused on how previously approved bonding (including a WPCA bonding package) factors into current borrowing needs and on the large multi-year totals listed in the CIP, particularly storm-drainage projects (several streets named in the CIP). Finance staff said the CIP aggregates projects assembled over multiple years, some tied to grant funding; staff advised the operational statements submitted to rating agencies contain line-item details on outstanding obligations and that grant programs (including potential FEMA awards) might reduce net town borrowing.

Mayor Hoytig said resiliency and Army Corps of Engineers work inform the list of high-cost drainage projects and that some projects look out five years due to audit requirements. Councilors requested clearer summary metrics tying the CIP to historical borrowing and debt-service expectations so the public and council can see how new bonds will affect town finances. The referred ordinances will return to the body after ordinance committee review with more detailed cost and financing information.

The council took the vote to approve the CIP by voice vote and referred the appropriation and bond ordinances to the ordinance committee by voice votes.