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Committee backs public hearings for 2027–2031 five‑year financial plan, CIP and MIP; staff flagged state tax bill uncertainty
Summary
The Committee recommended public hearings on the 2027–2031 five‑year financial plan, CIP and MIP (planning commission hearing 04/13/2026; city council public hearing 04/20/2026). Staff noted added funding changes and cautioned the council about pending state legislation that could affect revenue assumptions.
City staff presented the recommended 2027–2031 five‑year financial plan with the Capital Improvement Program and Maintenance Improvement Program and described adjustments proposed by goal area committees. Staff said additions include a $400,000 increase for the OP Safe Streets plan in 2027 and 2028 and a $600,000 adjustment from the Community Development committee to restore timing for Young's Park improvements and Young's Aquatic Center renovations; those additions reduced the projected ending cash balance from 30.1% to 29.5%.
During the budget presentation staff cautioned that pending state legislation could change property tax growth assumptions: "state legislation limiting property tax growth has passed, but the session is not yet over ... house bill 27 45 was passed by both the house and the senate. We do not know what the governor is going to do with that bill," staff said. Council member Melissa moved to recommend that the City Council approve the 2027–2031 plan, CIP and MIP for public‑hearing purposes and to schedule the planning commission hearing on 04/13/2026 and the city council public hearing on 04/20/2026; the motion was seconded and approved unanimously by the committee.
