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Boca Raton outlines roughly $1 billion six-year CIP, $287 million planned for FY24-25
Summary
Financial Services Director Jim Zervos told council the six-year capital improvement program totals about $1 billion with approximately $287 million slated for FY24-25; major local funding sources include utility revenues, revenue bonds and the general fund, and high-profile projects include government campus planning, rail crossing work and utility upgrades.
The City of Boca Raton’s six-year capital improvement program (CIP) includes approximately $1 billion in planned projects and about $287 million in projects budgeted for fiscal year 2024–25, Financial Services Director Jim Zervos told the council during an Aug. 26 workshop.
Zervos said the CIP is a planning document that ties projects to the council’s strategic focus areas and is funded primarily by local revenue streams: utility-related sources account for a large share (water and sewer), a planned revenue bond of about $31 million is included for a sanitation facility, general fund contributions are roughly 11%, and building-permit revenue is another component. He said the top 10 funding categories are locally generated, accounting for roughly 90% of the CIP.
The next fiscal year’s notable investments highlighted by Zervos include municipal services projects (about 48.6% of next-year spending), utility services work (rehabilitation of water and sewer systems, wastewater-treatment facility upgrades and expansions to meet regulatory compliance), police and fire systems upgrades (de-escalation/accountability technology and station alerting), and parks investments such as Sanborn Square renovations and playground work.
Zervos also described higher-profile transportation and mobility efforts such as the government campus master plan tied to a transit-oriented community project and a railroad crossing expansion at Jeffrey Street. He said many of these projects span multiple years and noted the CIP will be presented again with the operating budget at upcoming budget meetings (discussion slated for Sept. 9 and potential adoption Sept. 23).
Council members asked about bonding plans and the city’s conservative posture given higher interest rates; Zervos said bonds are typically reserved for large, long-lived infrastructure projects and that the city aims to remain strategic and minimize debt while spreading costs equitably across those benefiting from long-term projects.
Zervos said the CIP book and detailed project descriptions are available online in the city’s budget documents.
