CITY MANAGER’S BUDGET MESSAGE
includes costs for professional consultants, architects, and engineers, as well as construction of the Great Park infrastructure and amenities. These services are funded through a series of revenue sources, such as the Community Facilities District proceeds, Program Fees and Rent, and Developer Fees.
As the Great Park grows, expenditures and operational needs also increases. The City, in consultation with stakeholders and the community, continues to work and implement the Framework Plan for the remaining portions of the Great Park, achieving Irvine’s high -quality standards. This effort will also monitor and balance the Great Park Funds, ensuring enough revenues are received for ongoing operations and maintenance, as well as future developments. The City will continue to evaluate the Great Park operational models to create a sustainable financial future for the Great Park.
Investing in the City’s Essential Infrastructure As part of the two-year budget and five-year financial plan development process, the City develops a comprehensive five-year Capital Improvement Program (CIP) document outlining capital projects and funding sources. Over the next five years, the City will invest a total of $148.4 million in local infrastructure (excluding capital development costs associated with the Great Park Framework Plan), to continue keeping our streets, public buildings, and parks well maintained and operated. A total of 28 capital projects are planned for FY 2023-25, representing $85.3 million in capital investments. These projects and associated expenses are incorporated into the FY 2023-25 Biennial Budget.
The two-year CIP budget includes $39 million for new construction and $46.3 million for rehabilitation. The table below shows a CIP breakdown by project category.
CIP Project Summary
Project Category
New Construction
Rehabilitation
Total
Facility Improvements
7,975,000
150,000
8,125,000 3,825,000 73,354,000 85,304,000
Great Park Improvements
-
3,825,000
Street & Mobility Improvements
31,005,000 38,980,000
42,349,000 46,324,000
Total
Key capital projects approved for the next two years include:
Facility Improvements: o
Mike Ward Community Park – Woodbridge Pickleball Courts o Oak Creek Community Park Improvements
Great Park Infrastructure/Improvements: o Synthetic Turf Installation
Street and Mobility Improvements: o
Jamboree Road/Main Street Intersection Enhancements o Sand Canyon Pavement Rehabilitation (Quail Hill to Barranca)
16
FY 2023-25 Adopted Budget
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