CITY MANAGER BUDGET MESSAGE
Unfunded Projects
Project Improvement Category
2-Year Budget Total
Facility
4,280,750
Great Park
1,000,000
Landscape
3,135,240
Street &Mobility
950,000
Total
9,365,990
Examples of the unfunded projects include:
Facility Improvements: Civic Center Parking Lot Rehabilitation and Sweet Shade Universal Playground Installation. Great Park Improvements: Hot Food Concessions. Landscape Improvements: Hicks Canyon Wash Landscaping and Electrical Pedestal Rehabilitation. Street and Mobility Improvements: Bike Trail Pavement Rehabilitation and Bikeway Improvements. One category of funding available for some of these projects is the Department of Finance Settlement proceeds. It is anticipated that a total of $292 million will be paid by the State by 2024, with $29.2 allocated to the Irvine Land Trust and $14.6 to the Great Park rehabilitation account, leaving $248.2 net available for other needs. The City has received $75.3 million, of which $56 million is available; $42.5 million is proposed for Great Park CIPs in this budget cycle. A portion of the remaining $11 million could be advanced for some of the above unfunded critical capital projects. Other critical needs for which settlement funding is needed includes: $135 million to prepare the Cultural Terrace for development Additional needed funding for the Great Park rehabilitation account to maintain existing facilities into the future. Planning Ahead: Great Park Development Through public-private partnerships between the City and its partners, the vision for the Great Park is coming to fruition. The Great Park Sports Complex is complete and opened for public use. In its first eight months of operation the Great Park Sports Complex has attracted numerous regional, national, and international events hosting over 500,000 visitors from the local community and around the world for cultural and sporting events.
FY 2019-21 Proposed Budget
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