Leggett Releases His Recommended FY 18 Capital Budget
Montgomery County Executive Ike Leggett has released his recommended Fiscal Year 2018 Capital Budget and amendments to the six-year FY 17-22 Capital Improvements Program (CIP).
The budget recommends over $2 billion for education, including $1.73 billion for the Montgomery County Public Schools (MCPS), the highest funding level ever provided, as well as $332 million for Montgomery College. It also provides support for the White Oak Redevelopment and the Rapid Transit System, an initiative designed to connect with job centers.
“This FY18 Capital Budget and amended six-year Capital Improvements Program represent critical investments in schools, jobs, transportation and housing while also being prudent with future borrowing,” said Leggett in a county news release.
Among the highlights:
- $1.73 billion for the Montgomery County Public Schools. This will allow the construction of four new schools, 22 new additions, and 11 school renovation/expansions with 11 more renovations in process while also investing in other important infrastructure needs. The budget assumes $308.6 million in State aid.
- $331.7 million for Montgomery College to fund new college-wide road and parking improvements, modify Rockville athletic fields, add a turf soccer field and support continuing Rockville, Takoma Park, and Germantown campus construction. The budget assumes $93.3 million in State aid.
- $49 million for White Oak redevelopment, designed to provide infrastructure to leverage private investment and job growth.
- $55.3 million to develop a South County Regional Recreation and Aquatic Center co-located with the Housing Opportunity Commission’s Elizabeth Square affordable housing project in downtown Silver Spring. Phase I would include an aquatic center and open in late 2019. Phase II would include community and senior recreation centers with a gymnasium and multi-purpose activity rooms opening in late 2021.
- $48.4 million for the proposed County Rapid Transit system, up $31.5 million from last year’s capital budget. The project leverages $10 million in federal grant funding.
- $17 million in core infrastructure investments in needed bridge and facility repairs.
- $2 million acceleration in funding for the resurfacing of residential and rural roads.
To review the recommended FY18 Capital Budget and amended FY17-22 Capital Improvements Program, click here.