MEDFORD TO RELEASE DRAFT 6-YEAR CAPITAL INVESTMENT PLAN FOR ASSET MANAGEMENT, CAPITAL IMPROVEMENT, FINANCING

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MEDFORD TO RELEASE DRAFT 6-YEAR CAPITAL INVESTMENT PLAN FOR ASSET MANAGEMENT, CAPITAL IMPROVEMENT, FINANCING

by Jackie Piques

Mayor, City staff to present draft plan and discuss next steps at public meeting on February 24th.

CIP was created with staff from the Collins Center for Public Management at UMass Boston following year-long process beginning in January 2020.

Mayor Breanna Lungo-Koehn announced today that the City will release a draft of the City’s first-ever comprehensive 6-year Capital Investment Plan (CIP) at a public meeting on February 24th. Created through an intensive multi-departmental effort and led by a team at the Edward J. Collins, Jr. Center for Public Management at UMass Boston, the CIP proposes a 6-year investment plan for prioritizing roadway quality, parks and open spaces, fleet and infrastructure investments and management, and modern water and wastewater infrastructure. The multi-departmental effort included both the City administration and the Medford Public Schools.

The City of Medford’s draft FY2021 - FY2026 CIP identifies capital needs and targeted investments of more than $107.6 million in 123 projects, across both City and Schools operations. The plan also identifies potential funding sources, including tax levy, local indebtedness, Enterprise Fund revenues, and State and other grant programs that can be used as a roadmap for years to come as the plan is implemented.

The release of the City’s draft CIP follows a year-long effort, made possible by a $30,000 Community Compact Grant from the State, applied for and attained by Mayor Lungo-Koehn in January 2020 shortly after taking office. Planning began in March 2020.

“I am incredibly proud to put forward this proposed FY21-FY26 CIP. Preparing a CIP was an immediate priority for me. This CIP lays out our strategic plans for investing in and protecting our infrastructure and capital needs and creating a framework for achieving major development and infrastructure goals, with specific timelines and identified funding options,” said Mayor Lungo-Koehn. “Failure to plan strategically for such investments will mean more expensive emergency expenditures down the road, which will ultimately impact our City’s financial stability and bond ratings. This plan is the result of careful and intensive review by numerous City and school departments and outside experts, and it presents a values-driven roadmap for the City of Medford’s infrastructure needs.”

“Long-term capital planning is a financial management best practice, and we were pleased to be able to support the City of Medford in achieving this goal. We credit the hard work of the Lungo-Koehn administration, the City’s financial team, and department staff across the City and Medford Public Schools in developing the FY2021 – FY2026 CIP,” said Sarah Concannon, Public Services Manager for the Collins Center. “The CIP provides a clear roadmap to make the investments in order to provide robust services to Medford residents and businesses. In addition, we’ve helped the finance team build the process and tools it needs to manage and update the plan on an annual basis. Even given the uncertainty caused by the COVID-19 pandemic, the City of Medford is now well-positioned for the future.”

The FY21 – FY26 CIP includes proposals for such areas as fleet maintenance and repair, traffic improvements and road safety enhancements, street and sidewalk repaving and pavement management, assessments of existing building conditions, building maintenance, parks and open space improvements, energy efficiency upgrades, water and sewer maintenance, and more.

Significant expenditures in the draft plan include future planning for Medford High School, Fire Department facilities, renovation and enhancement of public grounds and park/recreational facilities, streets and sidewalk repairs and maintenance, and the replacement of water mains.

Providing innovative, effective, and equitable teaching and learning practices for all students is the first priority of the Medford Public Schools,” said Superintendent of Schools Dr. Marice Edouard-Vincent. “To fulfill this commitment, it is imperative that our infrastructure and facilities are well-positioned to support those practices through thoughtful, comprehensive, and sustainable capital planning. I look forward to continuing to develop these capital improvement priorities in collaboration with the Medford School Committee, our partners in the municipal government, and all community stakeholders who are committed to improving the educational opportunities available to MPS students.”

Mayor Lungo-Koehn has invited the City Council and the School Committee to a public meeting on February 24th to officially present the draft CIP. Members of the public are also invited to attend. A link to the meeting, which will be held via Zoom beginning at 5:30 p.m., is available at www.medfordma.org/mayor/city-events.

Once finalized, a CIP will be assessed each year to adjust project scope and financing options as necessary based on financial and other factors.

Medford city services are available to all residents, regardless of economic situation, race, gender, immigration status, ability, benefit eligibility, or religious affiliation.

Jackie Piques | February 19, 2021 at 4:16 pm | URL: https://www.medfordma.org/?p=20346

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