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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, ADOPTING THE FIVE-YEAR CAPITAL IMPROVEMENT PLAN FOR THE CITY OF POMPANO BEACH FOR FISCAL YEARS 2024 THROUGH 2028; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: $33,863,399 for Capital Improvement Projects FY 2024
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(Staff Contact: Erjeta Diamanti/Tammy Good)
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Summary Explanation/Background:
The purpose of the resolution is to adopt the Five-Year Capital Improvement Plan (CIP) FY 2024-2028.
The CIP is a five-year plan for funding the construction, acquisition and rehabilitation of the City's facilities, infrastructure and equipment. The Five-Year CIP covers the budget for Fiscal Years 2024 through 2028 and it is included as an integral part of the operating budget of the City of Pompano Beach.
The Recommended Five-Year CIP was distributed to the City Commission in July, 2023 as part of the Recommended Operating Budget Book for FY 2024. During the July Budget Workshop (July 18, 2023) City Commission recommended staff to postpone for a year the design and construction of the Hillsboro Inlet Bridge Improvements and NE 14th Causeway Bridge decorative enhancements capital improvement projects. Exhibit A of this resolution reflects the recommended revision.
Origin of request for this action: Budget Office
Fiscal impact and source of funding: Total of $33,863,399 for FY 2024: $17,566,000 General Capital Fund; $5,400,000 Building Inspection Capital Fund; $8,526,439 Utility Renewal & Replacement Capital Fund; $2,175,490 Stormwater Utility Capital Fund; $95,470 Airpark Capital Fund; and $100,000 Parking Capital Fund.
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CAPITAL IMPROVEMENT PLAN FY 2019-2023