Page 266 - CityofWataugaAdoptedBudgetFY24

CIP AND CAPITAL PROJECTS FUNDS

As can be seen on the TOTAL YEAR CIP PRO ECTS
CIP summary schedule
and detailed schedule on FY
the following pages, the
City will focus on major

infrastructure upgrades,

as well as continuing our

street overlay program.
Actual program
expenditures may vary
depending on changes in
priority or addition or
deletion of projects or

emergencies. The 5-year
Capital Improvement Plan
includes projects that total

$98.4 million for FY2023
through FY2028. These
projects include $20 million in water and wastewater projects. Revenues will have an impact
on the scope of these projects. Within the 5-year CIP plan, $66.2 million in street and street
overlay projects and $7.2 million in drainage projects have been identified. Parks projects and
building improvement projects in the 5-year CIP total $3.5 million which includes the Fleeting
Building expansion project, theconstruction of a food business park, trail projects and lighting,
parks equipment, and other park amenities.

The funding source of the many of the capital projects will include debt issuances and pay-as-
you-go methods, and many projects are in a “to be determined” funding status at this time. Some
projects will be grant funded, as indicated in the revenue source section of the plan.

In the current year schedule, projects for
FY2023-2024 total $24.8 million in capital
projects (not including capital equipment).
Many of these projects are continuation of
projects that began in prior years. The $24.8
million is comprised of $15.3 million for street
projects which include Whitley Road phase 4
and 5, Hightower Road, Watauga Road
engineering, and various street overlays and
sidewalks, $1.3 million in drainage projects,
and $6.1 million in water and sewer projects.
Other improvement projects include the
continuation of the Green Ribbon Project which
will beautify the 377 corridor. A food business
park is funded by the Economic Development Corporation to spur economic development.

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