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Council reviews CIP adjustments, adds arts funding and property acquisition money
Summary
Council reviewed changes to the five-year CIP including new allocations for arts organizations, CIP reshuffling of the Fort Myers Country Club restaurant project to general fund reserves, a $1,000,000 placeholder for Edison Avenue roadway improvements, and $525,000 for a potential Princeton Street water-plant site acquisition.
City staff described multiple changes to the five-year Capital Improvement Program and one-time uses of reserves to fund city-owned facilities and projects.
Director Kenny said the Florida Repertory Theater contribution is increased to $175,000 and the Alliance of the Arts received an additional $75,000. She also told council that funding for the Fort Myers Country Club restaurant project will come from general fund reserves because taxable financing is not currently available. Kenny said staff added a $1,000,000 placeholder for Edison Avenue roadway improvements and $525,000 for acquisition of a Princeton Street property identified as a potential future water-plant expansion site; staff expects that acquisition to close in October.
Council members probed whether CRA funds could be used for brick-and-mortar projects; Kenny said CRA budgets were still being finalized and she had only overall totals to include in the citywide budget. The CIP still includes reduced and reallocated park and drainage projects pending geo-bond authorization and further design work.
