CIP FY 26-30 Final - Flipbook - Page 15
Capital Projects Summary
Unfunded Capital Projects
This year’s five-year CIP introduces an Unfunded Projects section. Staff recognizes there are many
competing capital needs and that funds are not available to meet all these needs. These projects
might be funded by one funding source, or several funding sources, if funds become available. In
order to move forward with these unfunded projects, the City will have to determine alternative
funding sources. These alternative funding sources could be Public-Private partnerships, grants, use
of General Fund Reserves or issuing debt in addition to other alternatives not yet considered.
The total cost of currently unfunded projects is $22,140,000. Unfunded projects are listed below:
Ferran Park Seaplane Dock
Ferran Park Boat Rental Dock Extension
AstroTurf for Ferran Park Bandshell
Fire Station # 4
Northshore Bridge Construction
Carver Park Softball Field Lights
Aquatic Center Renovation
Corey Rolle Athletic Field Upgrade
Hydraulic Mobile Stage
Parking Garage
TOTAL UNFUNDED PROJECTS
$
500,000
500,000
90,000
3,250,000
5,100,000
450,000
3,200,000
1,500,000
150,000
7,400,000
$ 22,140,000
It is important to note that total projects included in the CIP for the next five total $61,021,906.
Unfunded projects total $22,140,000. This equates to 26.6% of the City’s total projects that are
currently unfunded.
Sales Tax Capital Projects Fund
The County-wide Sales Tax Referendum was in 2015 for an additional 15-year period beginning on
January 1, 2018 and ending on December 31, 2032. Projections for this fund are based upon estimated
FY 2024/25 revenues with an annual 4% projected increase in revenues from FY 2027/30. The total FY
2026/30 revenue estimate is $20,031,237 which is approximately $750,000 higher than revenue needed
to fund all the projects in this fund. This is a more positive outlook than in previous years because several
big-ticket projects were moved to Unfunded Projects.
The projects funded through this source are primarily focused on general government activities, with
a significant portion allocated to departments historically funded by the General Fund. The primary
purpose of the Sales Tax Capital Projects Fund is to support infrastructure and facility improvement
initiatives. It serves as a means to finance essential projects that enhance public amenities, strengthen
transportation networks, and upgrade essential City facilities.
By planning and implementing prudent financial measures, the City strives to ensure the continuity of
essential government projects and services while adapting to changing economic conditions for the
benefit of its residents.
Sales Tax Capital Projects Funding Analysis:
Over the next five years, the City has projected the total cost of various Sales Tax Capital Projects at
$19,280,500 with a projected ending fund balance of $754,896. In FY 2024/25, the City began
construction on the new Rosenwald Gardens/Coolidge project. A portion of the Coolidge and Seven
Side Roads and Stormwater Expansion Project will be funded by the Sales Tax Capital Projects Fund
in addition to grant funding.
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