Description
Title: Establishing Priorities For The 2027 Capital Improvements Plan; Defining The Criteria To Be Used In Rating Project Proposals; Assigning Weights To The Criteria; Allocating Amounts For Different Purposes Within The 2027 General Obligation Bond Program (Grout, by request)
Summary
The City of Albuquerque's Council Bill R-25-217 establishes priorities for the 2027 Capital Improvements Plan and outlines criteria for evaluating project proposals for the 2027 General Obligation Bond Program. The legislation aims to ensure that capital funding prioritizes public safety and infrastructure, emphasizing the rehabilitation and correction of deficiencies in existing facilities. Approximately 90% of the funding, estimated at $165 million, will be allocated to these areas, with a significant focus on projects in socially vulnerable regions. The criteria for project evaluation include rehabilitation, operating budget impact, economic development, and equity considerations, ensuring that the allocation of funds aligns with the city's comprehensive planning goals and community needs.