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Franklin presents 10‑year capital investment plan update: $458M plan, 70% cash funding, projects and scorecard

Board of Mayor and Aldermen · February 25, 2026

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Summary

City staff briefed the Board on the fiscal 2026–35 Capital Investment Plan (~$458 million), noting $57.8M in completed projects (2020–2024), four 2025 completions totaling over $21M, a $102M new city hall budget and a proposed data‑driven project scoring system and public CIP dashboard to increase transparency.

Michael Walters Young (chief budget performance officer) and colleagues presented the first quarterly update on the fiscal 2026–2035 Capital Investment Plan. Michael said 14 projects were completed from 2020–2024 totaling about $57.8 million in public investment; in 2025 four projects completed totaling over $21 million, including Bicentennial Park and the Harlinsdale barn restoration. Michael noted Bicentennial’s final appropriation was $11.71 million and the project came in approximately $1 million under budget.

Presenters described ongoing projects and near‑term milestones: new city hall is under construction with a total budget of $102 million and an anticipated completion in 2027; Pearl phase 1 remains in heavy site grading with estimated completion around 2028; McEwen 4 is in utility relocation and receiving additional TAP funding; multiple bridge and road projects are advancing with partial TDOT funding. Staff reported the 10‑year CIP is roughly $458 million and that about 70% of the plan is funded with cash resources and 30% with debt, which staff characterized as a fiscally conservative mix.

The presentation also previewed a public CIP dashboard and an internal, data‑driven scoring rubric to evaluate and prioritize projects by metrics such as asset condition, safety improvement, congestion relief and alignment with the city’s master plans. Chris Franklin demonstrated how the new dashboard links GIS project views to OpenGov project details and expense tracking so residents can review project status and costs. Staff said they will return with refined scoring and additional quarterly updates; the board offered affirmation and requested ongoing transparency and regular updates as projects progress.