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Council reviews $118.2M five‑year CIP and options to close an annual $5M funding gap
Summary
Council received a detailed preliminary Capital Improvement Plan showing $118.2 million in projects over five years, $30.4 million in 2027 projects, and an approximate $5 million annual gap between recurring funding and planned projects; staff outlined bond and levy options and timing for decisions this fall and winter.
City finance staff walked the council through a preliminary 2027–2031 Capital Improvement Plan that lists $118,200,000 in projects over five years, with $30,400,000 identified for 2027. Finance Director Reinhardt told the council the CIP is nonbinding but will inform the 2027 budget and that project approvals over $25,000 will require separate council action.
Reinhardt said recurring annual funding for street projects is roughly $2,450,000 for 2027 while the plan shows about $7,800,000 in street projects that year, creating an approximate $5,000,000 gap. Staff described options to close the shortfall, including a $10,000,000 bond sale to spread costs over time or raising the CIF levy. "This will be the biggest budget I've ever put in front of you," Reinhardt said, noting the impact of expanded fire department staffing and other obligations on the 2027 budget.
Staff outlined a schedule: preliminary work on bond structure and a preliminary official statement in September/October, a presentation to council in November to authorize a bond sale, and possible bond issuance in December. Councilors asked about project prioritization, partnerships to offset park facility costs, equipment-replacement plans, and how TIF and other funding sources will continue to provide some revenue for projects.
The council did not take final action on the CIP at this session; staff will return with formal budget proposals and any bond-authorization requests during the fall budget process.
