The Town Council met on March 23 to discuss the proposed Capital Improvement Plan for six years out, with an emphasis on the upcoming 2021/2022 fiscal year.

The proposal for the immediate year beginning on July 1, 2021 totals $5,863,000, with staff expecting to review some of the projects based on council input and refine the total prior to budget presentations later in April.

The council heard projections for capital improvements through the 26/27 fiscal year, which proposes an additional $13 million in capital spending over the five years.

Town Finance Director David Pock explained how the town builds its capital improvement fund as well as other sources of revenue for capital projects.

The capital improvement budget is for any project that exceeds $50,000, according to Pock. He said the town builds the capital fund by dedicating 50 percent of the construction sales tax, and the total capital budget may include funding from the Downtown Development Fund, which comes from a dedicated excise tax – which is a portion of local sales tax – and development fees, which are collected with new construction and are used for projects deemed necessary by community growth. Use of Development Fees is strictly regulated by state statute.

The Times is presenting in this edition four separate stories based on the staff presentations and council discussion. Readers will find stories related to stormwater drainage projects, the Community Center, parks improvements and streets and traffic-related plans.