Subject:
Title
8:00 p.m. Capital Improvement Plan 2026-2042
Body
DATE(S) OF PRIOR COUNCIL CONSIDERATION OF THIS ISSUE:
N/A
EXPLANATION AND SUMMARY:
The goal of this work session is to present the assumptions, borrowing capacity, and project requests per bond year based on the new 4% meals tax. The Town’s Budget Committee (BCOM) and the Town Manager will present the Capital Improvement Plan (CIP) through 2042 for the Council’s review and approval. The CIP outlines large projects proposed for funding through bond issuances and additional external funding sources, such as grants. It also includes water and sewer projects, funded through water and sewer fees.
It is the Town’s practice to issue tax-exempt municipal bonds for capital projects in even-numbered years. The presented package covers projects planned for the 2026 and 2028 bond issuances, as well as the status of projects from previous bond issues.
Recommendation: Staff recommends Council review the CIP and give staff direction to proceed with the plan. A request for plan approval is on the October 27th, 2025 Council Agenda.