The New Market Town Council will meet tonight to discuss the capital improvement plan town manger Todd Walters is proposing. The meeting will help set major budget lines for the next five years.
Every year, Walters said, capital improvement projects and their budgets are laid out and discussed to take account of whether and when the project should happen.
“Every year, we have to update our capital improvement plan,” Walters said. “It can include equipment, vehicles, maintenance of larger projects. A lot of your larger capital expenditures.”
“We’ll just sit down and go over the draft,” Walters continued. “I’ll give them a brief explanation of each item and why I have it in the year I have it. It will allow me to get a little feedback from them before I approve it.”
Capital improvements are significant portions of town budgets, Walters said, often taking up more than $1 million. This year’s major project will be the new water tower which, Walters said, engineers have estimated will cost roughly $3 million.
“This plan for the fiscal year 2020, there will be a lot of capital improvements shown,” Walters said. “When we look at this... if [any projects] are not approved, we will pull it out.”
Walters said the water tower project will not be put off past 2020.
Rough outlines for the next five years will be in Walters’ draft, including a potential new maintenance building in 2021. Council members can approve the project or ask Walters to move it out to 2023 or 2024.
The work session will begin a 5 p.m. in the council chambers of the town office.