CITY HALL — Officials here plan to spend nearly $200 million over the next three years on a variety of capital improvements throughout Santa Monica.
As part of its budgeting process, City Hall annually develops a three-year capital improvement program, with this year’s encompassing fiscal years 2005- 06, 2006-07 and 2007-08. Next year, city officials have budgeted $69.4 million for capital improvements, a significantly lower sum than last year’s $116.8 million.
The reduction in spending reflects many big ticket items that have been in the works since the 1990s and are expected to open this year, including the $55 million Main Library, the $13 million Virginia Avenue Park expansion and the new $722,000 skatepark at 14th Street and Olympic Boulevard.
And with nearly $45 million in major projects already planned for, capital improvements for the next few years have been scaled back.
“You won’t see fabulous things in the (capital improvements budget) and you probably won’t for many more years,” said City Manager Susan McCarthy, adding that many fabulous projects will be realized within months.
“People will have some wonderful things from the legacy of the ’90s.” (Editor’s note: This is the second article in a series detailing City Hall’s 2005-06 proposed budget. Tuesday’s article focused on the City Council’s spending priorities.)
Originally published in the Santa Monica Daily Press print edition on May 25, 2005. Read the original PDF.