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City presents five-year CIP; staff flag reallocations, Buck Row acquisition
Summary
Staff presented the FY2017'FY2021 Capital Improvement Plan, saying the five-year plan totals roughly $210 million and noting proposed FY2017 capital spending and several timing changes including a $3.5 million Buck Row acquisition and neighborhood improvement reallocations.
Sunshine Tory, who helps coordinate the capital improvement plan, presented the proposed FY2017'FY2021 CIP and explained the plan's purpose and funding sources. "The proposed f y 20 17 through 2021 capital improvement plan totals roughly $210,000,000," Tory said, and staff also showed a FY2017 capital improvement budget figure in the presentation of $444,540,620 for the first-year capital component. Tory described the plan's ten expenditure categories (maintenance of public properties, streets and infrastructure among the largest) and explained funding sources including bonds, general fund contributions, dedicated fees, state and federal grants and VDOT funding.
Tory summarized changes since the Planning Commission's April 7 recommendation (staff cited a Planning Commission recommendation figure of $208,496,764), including a $3.5 million allocation for the Buck Row acquisition initiative, added funding for a Dutch-style lock project and a timing adjustment that allowed neighborhood improvement funds to be advanced in the first year. She said projects must meet minimum cost and life-expectancy criteria and noted a city council public hearing on the CIP scheduled for May 4; council members asked clarifying questions about what constitutes a capital project, the process for identifying maintenance needs and how facility assessments inform the five-year schedule.
