Sec. 106.109. - Capital Improvement Funding.

(a) The City shall have a Capital Improvement Plan that is designed to be financially feasible and provides the funding source and amount of funding for the capital costs of each project, and the funding source and amount of funding for the anticipated post-construction operation costs of each project. The Capital Improvement Plan shall be filed and approved each fiscal year concurrently with the annual budget. (b) The City Council establishes a target of at least 17 percent of the Capital Improvement Plan Budget as defined in 122.602 (c), to be allocated for water and sewer lines, stormwater drainage, roads and streetlight Capital Improvements in the Pre-consolidation City boundary. The Capital Improvement Plan Budget target shall be reported each year in a separate section in the Mayor's budget proposal to the City Council. The provisions of 106.109 (b), establishing the target of at least 17 percent of the Capital Improvement Plan Budget for water and sewer lines, stormwater drainage, roads and streetlights, as defined in 122.602 (c) shall sunset, be repealed, and of no further effect on September 30, 2026. (Ord. 2005-807-E, § 10.11.A; Ord. 2006-185-E, § 3; Ord. 2020-418-E , § 1)