The city is planning $58.4 million in capital spending, including $15.3 million connected with the new Volkswagen plant as well as costs associated with a new round of annexation.
Daisy Madison, finance director, said capital spending would be $47 million next year and $50 million the following year, then dip to $40 million and to $34.1 million in 2013/2014.
Ms. Madison said city debt service is rising to a record level, but she said it is still within a safe range and is below most other similar-size governments.
She said total outstanding debt as of 2010 will be $437 million. She said there is a dedicated funding source for all of that except for $130 million.
She said the city will retire approximately 33.9% of
outstanding debt within five years, approximately 62.5% within 10
years and 86.7% within 15 years.
Budget priorities for the upcoming year are:
Enterprise Industrial Park/Volkswagen
Infrastructure/Road Improvements
Interceptor Sewer Upgrade
New Fire Halls
Fleet Replacement
Technology Upgrade
This is the last year the city will have an obligation related to the VW plant.
Major projects for the upcoming year total $8,593,598
They include:
Hamill Road Improvements
$1,500,000
Goodwin Drive
$250,000
ARRA Paving
$1,565,000
N. Orchard Knob
$200,000
Old Hixson Pike
$800,000
Rossville Blvd Streetscape
$637,500
Riverwalk/Riverstreet Extension
$52,098
MPO-3rd & 4th St. Extension
$165,000
$200,000
No. & So. Terrace @ North Moore Rd
3rd St. Parking lot @ Warner Pk.
$100,000
ESIP Intersections
$1,000,000
ESIP Railway Lines
$1,500,000
ARRA Signal System Upgrade
$624,000
Other planned spending includes:
$355,000 for sidewalks
Transportation Planning Study
$100,000
Riverbank Stabilization
$24,005
Annexation Costs
$250,000
Interceptor sewer
$10,804,000
Fire department
$4,960,100
Two new fire halls for annexation
$3,300,100
Apparatus for new stations
$1,075,000
Fire hydrants in newly annexed areas
$585,000
Security cameras
$100,000
Mesh network
$3,000,000
Police laptops
$500,000
Fleet Lease Program
$3,000,000
Police precinct at CCRC
$600,000
Brownsfield projects
$540,000
CARTA
$334,000