The Finance Committee will begin its discussion of the City Manager’s Recommended FY21 Capital Improvement Plan budget the Finance Committee’s January 28 meeting.
The CIP presents the City’s capital needs in the current year and plans for capital needs in future years. It is also a financing plan for public improvement projects that require significant capital investment for the City. The purpose of developing and annually updating a five-year CIP is to inform policy makers and community of both the current and future capital needs of the community and balanced those needs with the City’s debt position, public expectations, and the ability of the City’s operating budget to fund capital projects.
The Finance Committee will discuss the Capital Improvement Plan budget further at its Wednesday, February 5 meeting. A public hearing will be held as there is the potential for the Committee to vote on the budget during that meeting. Following the committee process, the recommended CIP budget will be sent to the City Council for consideration and adoption in February 2020.
“After seeking guidance from the Mayor and City Council, I am bringing forward a recommended capital improvement plan that seeks to meet as many of our critical capital needs as possible without increasing net debt service costs,” said City Manager Jon Jennings. “The plan I am presenting to the Finance Committee tonight includes nearly $19 million in City general fund and school capital projects. I weighed many factors when choosing which projects to include, with highest priority to those that are legally obligated or compliance with adopted plans. As always, we seek to achieve these projects by incorporating state matching funds, surplus, prior year CIP savings, donations, and TIF funds as much as possible.”
This year’s recommended capital program includes $5.6 million in funding for projects that are dedicated to fixing ADA issues in our city across every district. The plan also continues the City’s focus on going green, with several electric vehicles, including the City’s first energy efficient plow truck and first electric rolloff truck as well as additional hybrid police cruisers.
The recommended budget also includes nearly all of the requested Portland Public Schools requested projects as well as a new playground at the soon to be renovated Lyseth School, an outdoor basketball court reconstruction at Riverton, and a new climbing net at Longfellow. It also includes significant investments in Deering Oaks, Payson Park, the Troubh Ice Arena and Portland Expo, Riverside Golf Course, Evergreen Cemetery, and more.
The complete FY21 City Manager Recommended CIP and an introductory letter can be found at the Finance Committee website here. Prior year CIP documents approved by the City Council can be found on the City’s CIP page: http://portlandmaine.gov/479/Capital-Improvement-Plan