CIP heavy with 2015 Vision-related spending
The Lincoln-Lancaster County Planning Commission on Wednesday saw a Capital Improvement Program plan loaded with money for 2015 Vision-related projects.
The document, which lays out more than $1 billion in proposed spending on city infrastructure and services over the next six years, is updated annually. Only the first year of the plan, the 2008-09 fiscal year, is considered concrete, with future years serving as more of a wish list.
A Planning Commission hearing, at which commissioners determine whether the CIP conforms to the city’s Comprehensive Plan, is the first step in the public process.
The City Council will eventually approve the final CIP, which may or may not be the same as what was unveiled Wednesday.
Probably the most notable expenditure in next year’s CIP is $338 million in the Urban Development Department budget for the West Haymarket redevelopment, including a proposed arena. The document lists $253 million for a general obligation bond, which is scheduled to be put to a vote next year, and $85 million in other financing, which would likely include tax increment financing and parking revenue, among other sources.
The Urban Development Department also lists $6 million for an Antelope Valley redevelopment project at 20th and R streets.
City Urban Development Director Dave Landis said Wednesday the money is for a project involving a “large financial institution” that wants to move to the Antelope Valley area.
Speculation has centered on Assurity Life Insurance Co., which has said it wants to build a new headquarters in the area.
The Parks and Recreation Department’s CIP request includes $6.9 million for an east downtown park to be called Union Plaza in honor of Union Bank, which donated $1.5 million for the project.
All three of the projects are among the 2015 Vision group’s community pillars.
The document, which lays out more than $1 billion in proposed spending on city infrastructure and services over the next six years, is updated annually. Only the first year of the plan, the 2008-09 fiscal year, is considered concrete, with future years serving as more of a wish list.
A Planning Commission hearing, at which commissioners determine whether the CIP conforms to the city’s Comprehensive Plan, is the first step in the public process.
The City Council will eventually approve the final CIP, which may or may not be the same as what was unveiled Wednesday.
Probably the most notable expenditure in next year’s CIP is $338 million in the Urban Development Department budget for the West Haymarket redevelopment, including a proposed arena. The document lists $253 million for a general obligation bond, which is scheduled to be put to a vote next year, and $85 million in other financing, which would likely include tax increment financing and parking revenue, among other sources.
The Urban Development Department also lists $6 million for an Antelope Valley redevelopment project at 20th and R streets.
City Urban Development Director Dave Landis said Wednesday the money is for a project involving a “large financial institution” that wants to move to the Antelope Valley area.
Speculation has centered on Assurity Life Insurance Co., which has said it wants to build a new headquarters in the area.
The Parks and Recreation Department’s CIP request includes $6.9 million for an east downtown park to be called Union Plaza in honor of Union Bank, which donated $1.5 million for the project.
All three of the projects are among the 2015 Vision group’s community pillars.
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