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City heard $499 million five‑year capital plan; council awards financial‑advisor contract
Summary
City staff presented a condensed 5‑year capital improvement plan totaling $499 million if fully funded; council also approved PFM Financial Advisors to assist with potential debt issuance and approved a CMAR GMP for Building E funded by ARPA interest.
City staff presented an updated five-year capital improvement program (CIP) that consolidates projects and focuses on completing higher-priority work. Sean Spillers, the city's capital and asset program administrator, told the council the city had reduced its active project list from 283 to 86 projects and reported $76,700,000 spent to date with $172,000,000 in approved funding for a current total of $249,000,000; he said future needs for currently identified projects total roughly $250,300,000, yielding a potential five-year capital investment of $499,000,000 if all projects are funded.
Spillers outlined department-specific needs (general fund needs estimated at about $28 million across four priority projects including Fire Station 8 and 9; utilities needs were much larger) and called attention to IT fiber expansion and other technology investments. The presentation was intended to solicit council feedback and alignment as staff prepares the budget cycle.
In follow-up procurement business, the council approved an award to PFM Financial Advisors to provide municipal-advisory services for potential bond and debt issuance. Jay Glover of PFM described the firm’s role advising local governments on financing strategy and noted PFM is paid from transaction proceeds rather than hourly retainer. The award passed by unanimous vote.
Separately, the council approved a guaranteed-maximum-price CMAR contract with Scorpio Construction for a Building E third-floor fit-out at a GMP of $1,384,199. Staff and council debated whether to allocate the full $1.5 million ARPA authorization previously requested or to approve the $1.384M GMP and return unused funds to ARPA. Council approved the $1,384,199 GMP and directed staff to report back with a detailed breakdown of remaining furniture and IT costs.
The CIP presentation and these procurement decisions will feed into upcoming budget workshops; staff noted certain impact-fee schedules and future bond prospects will appear in the FY26 budget process.
