FY2021 Budget

ADOPTED CAPITAL INVESTMENT PROGRAM (CIP) The recommended CIP has been updated to account for rising development cost and other influences such as adopted plan priorities, study results and changing needs. This year in particular, it was necessary to safeguard the organization from the uncertainty surrounding COVID-19 impacts to resources for both short and long-term affects. It is for this reason that FY2021 does not propose any new Captial Budget appropriations as were included in FY2020 budget adoption. Items were generally moved out a year and adjusted for 3% for FY2022, 4% for FY2023 and 5% for 2024 and future years. For illustrative purposes a projected $20 million bond with a $7M/$7M/$6M split between the identified categories of Public Safety, Transportation and Parks and Recreation (illustrative only). Projected use of Parkland PIL funds was identified for up to the projected known deposits in FY2021.

It is anticipated that work will continued on the active projects as the Town explores bond referendum options and evalutes the future financial impacts of COVID-19.

Captial Budget

Future Planning Years Rank Key: H=High, M=Medium, L=Low

Column1Column2 Column3

Bond Candidate

Bicycle & Pedestrian

Rank

Prior Years FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Future

TOTAL

Crabtree Hatcher Creek Greenway Loop Indian Creek Greenway - Town Hall Terraces

L

$

-

$

-

$

-

$

-

$

-

$

693,000

$

-

$ $ $ $ $ $ $ $ $

693,000 275,000

$

275,000

Future Projects

$

-

$

-

$

-

$

-

$

-

$

-

$

7,455,000

7,455,000

Parks & Recreation Cedar Fork Elementary Field

M Yes

$ $ $

- - -

$ $ $ $ $ $ $

- - - - - - -

$

-

$ $ $ $ $ $ $

769,000 936,000

$

-

$

-

$ $ $ $ $ $

- - - - - -

769,000

Cedar Fork District Park Field Improve

H H H

Yes Yes Yes

1,417,500 $

1,417,500 $ 1,693,000 $

3,771,000 2,257,500 4,617,000 1,113,500 2,863,000

Cedar Fork District Park General Improvements

$

-

- -

$ $ $ $ $

564,500

Crabtree Creek Nature Park

$

500,000

4,117,000 $

-

$ $ $ $

- - - -

Dog Park

M Yes

$

-

$

-

277,000

836,500

Morr Comm Park Phase 3

H

Yes

$

700,000

2,163,000 $

- -

- -

Future Projects

$

-

$

-

28,743,000 $

28,743,000 $

Public Facility Public Works Facility

H

$ $

- -

$ $

- -

8,250,000 $

$ $

- -

$ $

- -

$ $

- -

$ $

-

$ $

8,250,000 1,078,500

Future Projects

$

-

1,078,500

Public Safety Fire Station #2 Relocation

H

Yes

$

2,500,000

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

- - - - - - - - - - - - - - - - - - - - - -

7,000,000 $

$ $ $ $ $ $ $ $

- - - - - - - -

$ $ $ $ $ $ $ $

- - - - - - - -

$ $ $ $ $ $ $ $

- - - - - - - -

$ $ $ $ $ $ $

- - - - - - -

$ $ $ $ $ $ $ $ $ $ $ $

9,500,000

Future Relocation of Fire Station #3

M Yes

$

-

Included

-

Northwest Fire Station Park West Fire Station

n/a n/a

n/a n/a

$

300,000

$ $

- -

300,000

$

-

-

Transportation NC54 Corridor Congestion Mitigation - Airport Boulevard Extension Phase I

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

- - - - - - - - -

$

-

-

H

LAPP

5,900,000 $ 4,700,000 $

5,900,000 4,700,000

-Future Identified Projects

TBD

Future Projects

$

-

14,502,500 $

14,502,500 $

Future Priorities (project scopes in development) Affordable Housing TBD

TBD TBD TBD TBD TBD

TBD TBD TBD TBD TBD

TBD TBD TBD TBD TBD

TBD TBD TBD TBD TBD

TBD TBD TBD TBD

- - - -

Greenway Improvements

TBD TBD TBD TBD

Land Acquisition

Transit Oriented Development (TOD)

Town Center

$

8,000,000

8,000,000

Total

4,275,000

32,130,000 $

1,982,000 $

2,818,500 $

3,803,500 $

59,779,000 $

104,788,000 $

FUNDING PLAN Cash Outlay (Operations/FB)

-

$ $ $

-

$

-

$

-

$ $ $ $ $ $

- - - - - -

$ $ $ $ $ $

- - - - - -

$ $ $

-

PPIL

1,475,000 2,800,000

280,000

1,982,000 $

1,852,000 $

5,589,000 2,800,000

Reserve

-

$ $ $ $ $

- - - - -

$ $ $ $ $

- - - -

Bond Referendum (Proposed)

- - - -

20,000,000 $ 3,600,000 $ 8,250,000 $

20,000,000 $

LAPP

$ $

3,600,000 8,250,000

Debt Service Not Funded

$

-

966,500

3,803,500 $ 3,803,500 $

59,779,000 $ 59,779,000 $

64,549,000 $ 104,788,000 $

Total

4,275,000

32,130,000 $

1,982,000 $

2,818,500 $

92

Notes: Project cost estimates updated, include a contingency and a cost modifier applied for inflationary adjustments over time. Design cost are typically estimated at 25% of total project cost.