The City of Delaware’s 2020-2024 Capital Improvement Plan (CIP) was approved by Delaware City Council Monday. The plan highlights the city’s capital improvement general fund balances over the next five years, while also detailing a range of projects that could be completed in that time span.
“The city’s healthy financial position, as evidenced by its most recent credit rating of Aa2, coupled with new gas tax funding and other factors, has resulted in a CIP that is not only in balance, but reflects the majority of departmental funding requests,” states a city document on the CIP.
The new gas tax referenced is estimated to bring in $758,395 annually, which will be dedicated to the resurfacing of city streets. Another additional revenue soon to be generated is the additional $5 fee for vehicle registration, which council will vote on next year. The fee is expected to generate an additional $223,500 for the city, which combined with the gas tax revenue, will total approximately $1 million in new revenue to be used for street improvements.
A summary of the capital improvement general fund shows expected funds available for capital improvements after including revenues and subtracting the city’s debts to be $2,375,780 in 2020, $1,762,874 in 2021, $1,548,875 in 2022, $1,987,559 in 2023, and $2,914,916 in 2024.
Other expenditures listed in the CIP, which include street improvements, park improvements, equipment replacement, building maintenance, and the newly-created “unanticipated project” fund bring the total fund balances to $112,037 in 2020, negative $101,077 in 2021, $38,803 in 2022, $967,559 in 2023, and $1,447,940 in 2024.
Projects listed in the street improvements plan include The Point project, which shows a $200,000 expenditure in each of the five years of the CIP. Last year’s CIP detailed the much-anticipated reconstruction of The Point that would relieve much of the congestion along U.S. Route 36 and state Route 37 by adding a lane on both sides of the road. Extensive reconstruction of the Norfolk Southern Railroad bridge would also be done.
The total cost of The Point project is estimated to be $25.2 million. The city has secured funding at both the state and federal levels that would cover 75 percent of the project, leaving the city with $6.4 million in local funding to contribute. Construction is not expected to begin before 2022.
Other projects detailed in the CIP include the repairing of the Springfield Branch pedestrian bridge that extends over U.S. Route 23, the Olentangy River, and River Street. The two cement piers on U.S. 23 are deteriorating and repairs are needed to prevent further deterioration and concrete from the bridge falling onto U.S. 23. The report estimates the repairs will cost around $150,000.
Projects including the installation of a traffic signal at Carson Farms and the construction of an arch — similar to the one in front of Bun’s — over East Winter Street in front of the Strand Theatre were also added to the amended CIP, which shows an estimated cost of $250,000 in 2021 for the signal and $25,000 for the foundation work for the arch.
City Manager Tom Homan said during Monday’s meeting, “You’re adopting the plan tonight. The appropriation for 2020 would be part of the 2020 budget that you will be adopting in December. All you’re adopting is the plan, which is really a blueprint for the next five years of various projects the city has on its plate.”
The full CIP can be viewed by accessing the agenda for the Sept. 30 city council meeting, which can be found on the city council page under the departments and services tab on the city’s website.
Reach Dillon Davis at 740-413-0904. Follow him on Twitter @DillonDavis56.