Marshfield aldermen adopt CIP plan
For the Hub City Times
MARSHFIELD – The city of Marshfield would borrow $17 million over the next five years for major projects, under a plan approved June 8.
The common council voted unanimously to adopt the city’s Capital Improvement Program (CIP), which is a five-year plan updated annually that spells out where the city will invest in major projects or upgrades – things like major street projects and building maintenance, along with improvement projects related to parks and recreation, community development public safety, storm water management, and the airport.
Funding for CIP projects comes from things like property tax levy, hotel room taxes, federal and state revenues, and any grants or donations. But the lion’s share comes from borrowing, and the city’s goal was to limit that to $3.3 million in each of the first two years of the new plan. But City Administrator Steve Barg told the council that a major need has popped up at the UW campus, and that project will have to get bumped up by two years.
“A 200-ton chiller that cools most of the west half of campus. They were hopeful that they would make it until 2024; they’ll be lucky if it makes it until 2022,” he said.
Barg said the change means an additional $90,000 dollars in borrowing next year, but a reduction by the same amount in 2024.
Nearly one-third of the total $35.9 million CIP budget, or $10.2 million, is earmarked for the city’s asphalt paving program, including $1.7 million next year.