News release from the City of Fort Wayne:
Capital Improvement Plan to be presented to City Council
Plan is outcome of Fiscal Policy Group; Positions City for growth and success
(September 10, 2013) – Mayor Tom Henry’s Administration tonight will present details of a Capital Improvement Plan (CIP) to City Council. A Resolution to adopt a CIP was introduced two weeks ago and is now set for discussion.
The CIP is an outcome of the recent work performed by the Fiscal Policy Group, who determined it would be more effective to separate the City’s CIP from the City’s operating budget analysis. The first edition of the CIP under the new process would begin in 2014.
Highlights of the CIP:
- The CIP provides details on revenues and expenditures for capital investments. The expenditures will be for services including streets, roads, sidewalks, trails, parks, and equipment for public safety.
- The CIP will also allow for discussions to explore the possibility of issuing a bond to begin work on the backlog of street and road projects. A bond, along with the transportation funding through the financial plan for the future passed by City Council in June that allows for pay-as-you-go funding for future projects, would allow the City to complete the backlog by the end of 2018.
“We’re positioning ourselves for future growth and success,” said Mayor Henry. “By being a leader in providing essential services, we’re becoming a destination place for business growth and jobs, and we continue to enhance our excellent quality of life and build stronger neighborhoods.”
Fort Wayne was the first city in Indiana to assemble a Fiscal Policy Group to develop strategies to proactively address budget issues. The group developed a framework of ideas to save money and bring additional revenue to the City. The ideas ultimately led to the passage of a financial plan for the future that will sustain the community and make Fort Wayne viable for years to come.
The new CIP process is a continuation of a series of successes resulting from the City’s commitment to meeting the needs of citizens. In July, the Fire Department announced plans to add 15 new firefighters, the Police Department announced 20 new police officers will be hired, and the Parks Department announced plans to invest $3 million annually in projects. Last month, the City’s Public Works Division announced its plan to invest $13.6 million in annual maintenance to the City’s transportation system (streets and roads).
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