The Murfreesboro City Council approved the 2015-2019 Capital Improvement Plan (CIP) during its December 3, 2015 regular meeting. Borrowing for the first year projects totaling $89 million is expected to be presented to City Council for approval in January 2016.

The new 125,000 square feet Police Headquarters under construction in the former Murfreesboro Medical Clinic on Highland Ave. is the City's largest Capital Improvement Project (CIP) with an estimated cost of $42.2 million. The new Headquarters is roughly 47 percent of the total 2015 CIP list.

Other significant 2015 projects include $10 million for purchase of land to develop a new park on the west side of the City; $6.2 million for expansion of Hobgood Elementary School; and $3.6 million for renovation of Lytle Street in conjunction with the new Rutherford County Justice Center. The CIP includes projects and capital purchases costing more than $50,000 and with a life of at least five years.

Additional 2015 CIP Budget Projects include:

• $2.7 million for Miracle Field at McKnight Park.
• $2.4 million for Richard Siegel Soccer Park.
• $1.8 million for Side Loader Solid Waste vehicles.
• $1.5 million for Kingdom Drive Bridge.
• $1.0 million for engineering on Butler Drive.
• $850,000 for Tub Grinder Solid Waste brush disposal.
• $795,000 for a Parks & Recreation Maintenance Shop.
• $620,000 for Neighborhood Parks co-located at City Schools.
• $400,000 for Community Technology Center at Hobgood Elementary.

Funding for $5.7 million of the projects is generated from savings in road and building projects from the 2010 and 2012 bond issues. Another $4.8 million is derived from shared County school bonds with the City Schools. The CIP is predominantly funded by the issuance of debt and the City plans on financing $78.5 million for approved projects in early 2016.

The proposed 5-year CIP (2015-2019) totals $313.1 million, and leverages over $160 million from Federal, State, County, private partners in additional funding. As of June 30, 2015, the City's general long-term debt is $204.8 million with 60 percent on a fixed rate and 40 percent on a variable rate debt. The City Charter established a debt limit of 15 percent of the previous year's assessed valuation of all property in the city. According to the most recent audit (FY14), the City's total debt was 7.9 percent of assessed valuation. The projected FY 20 ratio is 6.9 percent of assessed valuation, well under the Charter limitation of 15 percent.