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City outlines $14 million in Series 25 projects, estimates heavy FY27 spending
Summary
Staff said about $14 million in Series 25 proceeds will fund Stephenson, Old Fitzhugh and a parking-lot project and that roughly $10.5 million is projected to be spent in FY27; work on Stephenson and the parking-lot is expected to be underway or completed next year.
Sean Cox summarized how the city plans to apply Series 25 proceeds to capital projects. He said the city expects to spend “about almost 10,500,000 in FY27 of the 14 that we've received,” estimating Stephenson and the parking lot will be completed and Old Fitzhugh about halfway complete by that time.
Cox told council the maintenance facility and other projects funded by prior issuances have come in at or under budget. He noted a supplemental request from Riley for office build-out and said staff will present cost estimates in a future session. Council members asked for an itemized list of spent amounts and a checklist of candidate projects that could use any remaining Series 25 funds.
