Capital Improvements Program
City to pursue $167.5 million in projects over 5 years
Dublin plans to pursue $167.5 million in projects over the next five years.
Dublin City Council members are set to vote Sept. 9 on the five-year capital improvement program that outlines new projects, infrastructure maintenance and improvements throughout the city through 2018.
The city has $54.4 million in projects planned for 2014 add $60.9 for 2015.
During a meeting about the program held Aug. 19, Dublin Finance Director Angel Mumma said staff begins looking at needs in the second quarter as well as planned and current projects.
Lists are then submitted, reviewed and compared to available revenue.
Dublin gets most of its revenue from income tax and 25 percent of income taxes are designated for the capital improvement program. The remaining 75 percent goes into the general fund that finances annual operating expenses, Mumma said.
"We're cautious about growth in 2013," she said.
"We're dealing with the loss of two big employers," she said, noting however that Chase and Ohio University will soon bring employees to Dublin.
"In 2014, we're projecting revenue will be even with 2013."
The city is expecting a 1-percent growth in income tax revenue in 2015 and 2016, Mumma said.
In 2014, Dublin anticipates collecting $61.8 million in revenue and $19.3 million will go to the capital improvement program.
Of the 25 percent of income tax revenue that goes to the capital improvement program, 40 percent of that is earmarked to cash fund projects. The rest goes to debt-funded projects, Mumma said.
Dublin currently has $55.3 million in debt, Mumma said, and has a $4 million debt payment in 2014 and $7.7 million payments each year from 2015 to 2018.
The city still has more money allocated for debt in the capital improvement program than debt payment. Mumma said the city can use that extra money to pay off more debt or fund more projects.
Tax-increment financing districts also fund some projects and in the proposed 2014-18 capital improvement program, TIF funding on hand is $11.5 million.
The general and capital improvement fund will also advance $4.6 million to different projects and be paid back by TIFs as they generate the money.
As for the projects in the capital improvement program, transportation takes most of the cake with $88.1 million in projects planned that includes annual maintenance projects, repaving and new roads and multiuse trails.
In the capital improvement plan, the city also plans to spend about $33.6 million on projects in parks. Utilities, facilities and other expenses make up the rest of the capital improvement program.