LONG RANGE PLAN PUBLIC IMPROVEMENTS FUND LONG-RANGE PLAN

The LRP for the Public Improvements Fund assumes building-related taxes and intergovernmental shareback revenues will show higher growth in the near term as the activities that support these revenues are occurring now. By 2032, the growth tapers off to 2% for all major revenue sources. Contributions are budgeted according to the anticipated revenues received from developers for planned development activities. It is likely that more contributions will be identified in the later years than are currently included in the plan; however, project expenditures will increase proportionally with those revenues.

Expenditures vary from year to year depending on development and expected infrastructure replacement needs. Several large street widening and extension projects make up the large capital numbers in 2023 and 2024, including the extension of Dransfeldt Road and the widening of Lincoln Avenue, Stroh Road and Chambers Road. Intersection improvements at Lincoln Avenue and Jordan Road are another near-term improvement.

Due to large street projects being clustered in the next few years, the fund balance in the Public Improvements Fund is projected to go negative in 2024-2026 and drop too low in 2029 and