The Kenai City Council approved a resolution adopting the city’s capital improvement plan for Fiscal Years 2023-2027. The city adopts a five-year capital plan annually as part of the budget preparation process. The plan represents the capital needs of the city for years 2023-2027. Most of the discussion surrounded the Kenai Bluffs Stabilization Project, but also included the Nordic Trail Lighting Project, the Leif Hanson Fountain, and a request that dredging of the Kenai River be considered for inclusion for FY25.
City Manager Paul Ostrander said:
“You’ll see in FY2023 we’ve got the Bluff Stabilization Project funded at $17.5 million. You’ll also see that in 2023, there’s no city funding that is being provided. The grant funding there, the $17.5 million would be a combination of the federal money that was provided through the infrastructure bill, plus the state grants that we’ve received to date, which equals about $3 million right now, plus an assumption that the GO bond package with the $6.5 million from the state is passed. Some of that would be included in there. For FY23, the total amount spent would be $17.5 million and it would be a combination of both federal and state funding for FY2023.”
Ostrander adds:
“If you look on FY2024, there’s another $17.5 million slated for that year. If you include the two years, that’s a total project cost in the capital improvement plan of $35 million. In FY24, $14.95 million of it would be a combination of federal funding and state funding with the city providing funding of $2.55 million. the way this is laid out, the total amount that would be spent by the different entities would by $9.5 million from the state, $22.95 million from the federal government and $2.55 million from the city. Again, this assumes a $35 million project.”
Below (for desktop viewers) is the attached draft on the plan approved by the city council:
capitalplan
For cellphone viewers, click here.
