Naperville to cut capital improvement spending
Naperville is scaling back its capital improvement program for the upcoming fiscal year in light of its budget crunch.
The council on Monday discussed $66.4 million in proposed projects for the upcoming fiscal year and $328 million over five years. The city previously had been averaging about $80 million a year.
In order to be part of the capital program, projects must have a minimum value of $25,000, multiple years of usefulness and result in a fixed asset for the city. Roughly 44 percent of the projects are related to roads and bridges, while 41 percent are for utility infrastructure. About 11 percent is stormwater management and 4 percent is for building repairs.
Of the $66.4 million for the coming year, nearly $28 million is unfunded, meaning the city will have to borrow money to pay for the projects. The city will also be studying its water rates to determine if an increase is needed.
Councilman Jim Boyajian said the city needs to look differently at its debt.
"We have to have some discipline, some target that says I don't care what the project is, I'm not going to spend more than X," Boyajian said.
City Manager Doug Krieger suggested that, rather than focusing on total cost, the city look at the impact it will have on property tax, water and electric rates. He said he would return to the council with more information.
Among the transportation-related projects Naperville has slated for next few years, one is studying the feasibility of a bus depot near the Fifth Avenue Metra station. Transportation staff also would like to install new daily fee parking machines at the train station to allow commuters to get change from the machines or pay with a credit card. Intersection improvements also are proposed for Route 59 and Lacrosse, as is widening of 111th between Perth Drive and Route 59.
Two parking projects, meanwhile, continue to be pushed into the future. The city is still waiting for a proposed development on Water Street to come to fruition. The development is supposed to include a 557-space parking deck. What happens with that deck will affect the city's decision to build another downtown parking deck. One has previously been proposed for the Nichols Library.
Councilmen agreed Monday to fund an assessment of the Riverwalk's west bulkhead wall next fiscal year and to make enhancements near Centennial Beach.
The city will additionally spend $11 million over the next three years for a new Smart Grid electric initiative it hopes will save both energy and money in the long run. The city's money will be matched by a federal grant.