Mayor Kugan says Fall River’s finances are strong and unveils a five‑year capital plan

Mayor Paul Kugan told the One South Coast Chamber that Fall River’s finances are in a healthy position and unveiled a new five‑year capital improvement plan intended to guide investments and improve transparency.

“I am proud to report that despite its fair share of challenges, Fall River stands just as strong today, if not stronger than it did last year,” Kugan said. He reported that the city has “over $24 million in stabilization and over 40 million in reserves and a stable A3 credit rating,” and that the city has seen almost $2.6 million in new growth for 2026 so far.

Kugan said the city finalized a capital improvement plan for fiscal years 2027–2031 to help prioritize projects and strengthen financial reporting. The plan, he said, is intended to better target capital needs and provide more transparency to residents and businesses.

The mayor framed the fiscal numbers as the foundation for ongoing investments in schools, infrastructure and redevelopment projects that he described elsewhere in the address. Kugan tied the fiscal stability to the ability to pursue downtown and waterfront projects and to respond to short‑term needs, stressing that the plan will inform near‑term spending decisions.

The address did not include detailed line‑by‑line budget allocations tied to the CIP; Kugan presented the plan as finalized and available to guide future capital work. He thanked the chamber and local partners for supporting the city’s efforts and closed by urging continued collaboration between government and the business community.

Next steps: the mayor said the CIP will guide investments in fiscal years 2027–2031; officials indicated the plan will improve public reporting but did not provide a publication date or itemized project list in this address.