PRESS RELEASE FOR MORE INFORMATION CONTACT:
FOR IMMEDIATE RELEASE JASON SILVA, CHIEF OF STAFF
JUNE 23, 2010 (978) 744-9595 ext. 5603
Salem Capital Improvement Plan recommendations announced
SALEM – Mayor Kimberley Driscoll announced her recommendations for the FY 2011 Capital Improvement Plan. The over $4 million proposal includes infrastructure improvements, technological upgrades that will enhance efficiency and preventative maintenance for City property.
“Although the City is facing tough financial times, it’s important to not let significant purchases and projects that will ultimately improve operations in Salem fall by the wayside,” said Mayor Kimberley Driscoll. “By addressing inefficiencies in the City and keeping up the maintenance schedules for our roads, parks and other City properties, we will ultimately save money.”
This year’s CIP relies heavily on a “pay as you go” strategy ensuring a minimum impact to the City’s long-term finances. Over $2.4 million of the proposed $4.085 million Capital Improvement Plan will come from State and Federal grants, $680,000 will come from the City’s Capital Outlay account and $630,000 will be funded by a loan order.
It is expected that the Massachusetts School Building Authority will reimburse the City for nearly $1.1 million of the estimated $1.4 million needed for improvements at the Collins Middle School and Saltonstall School however the City will not submit a request to authorize borrowing for this amount until final cost estimates are received from upcoming feasibility studies for both projects.
“The FY11 Capital Improvement Plan reflects my continued commitment to careful financial planning,” said Mayor Driscoll. “In choosing projects to be included in this plan, the City looks at their affordability and short- and long-term effects on the City’s finances.”
Over the last few years, the City has been very successful in investing in its parks and playgrounds, roadways and sidewalks, water and sewer infrastructure, equipment and vehicles, and municipal facilities. What we’ve been able to accomplish through a well thought out and thorough capital plan has made quite an impact.
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