CIP Update, 2009 Debt Issuance

Engineering Department
PRESS RELEASE
Contact: Julie Baldwin-Muñoz at 541-4987 or 478-0401

Capital Improvement Program Update: 2009 Debt Issuance

December 2, 2008- On November 5, 2008, as part of a City Council Strategic Planning Session, the 2009 Debt Issuance for critical priorities was presented and approved. In continued support and response to this initiative, the City Council today approved the funding instrument.

Below is a summary of approved programs and funding under the new 2009 Debt Issuance:

Program
Funding Needs
Sun Metro Capital Projects
$ 21,608,956
Storm 2006 Capital Project Shortfall
Dallas Street Outfall
Govt. Hills Outfall/Durazno Neighborhood
$ 12,612,805
Transportation Capital Improvement Program
Funding for Planning and Design
$ 2,556,000
TxDOT
Funding Commitments
$ 7,420,000
Comprehensive Mobility Plan
$ 2,430,000
2% Public Art
* Sun Metro Capital Projects already include 2% calculations
$ 500,376
Sun Metro Equipment Needs
$ 16,000,000
Fleet Replacement
$ 10,000,000

Grand Total

$ 73,128,137


* For more information, please see the link to the complete presentation provided at the City Council Meeting

http://www.elpasotexas.gov/muni_clerk/agenda/12-02-08/12020814.pdf