| Executive Summary: | | The Capital Improvement Plan (CIP) provides an opportunity to identify, schedule, and plan funding for capital projects over a five year period. Capital improvements are considered major construction projects or major improvements to the village’s infrastructure that have a long useful life. The anticipated total budget expenditures as well as the village's share over the next five years are shown below:
|
Fiscal Year
|
Total Cost
|
Village Share
|
|
25/26
|
$89,649,580
|
$71,173,904
|
|
26/27
|
$87,310,025
|
$75,969,236
|
|
27/28
|
$102,978,280
|
$88,379,851
|
|
28/29
|
$100,302,050
|
$100,127,050
|
|
29/30
|
$32,498,355
|
$27,162,155
|
| Total |
$412,738,290 |
$362,812,196 |
The attached document outlines the five-year CIP with a focus on the projects that are planned for the coming fiscal year. | | Recommended Action: | | The Village Manager recommends that the Committee of the Whole recommend that the Village Board accept the multi-year Capital Improvement Plan and approve the projects for FY 25/26 for incorporation into the budget.
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