Clearwater's Five-Year Capital Improvement Plan Details Infrastructure Funding Strategy Through FYE2029

Clearwater residents can expect continued investment in local infrastructure over the next five fiscal years, according to the recently updated Capital Improvement Plan (CIP). This comprehensive plan, updated by CRP on May 30, details the financial strategy for projects spanning fiscal years ending 2025 through 2029.

The CIP outlines several key funding sources that will support these infrastructure initiatives. Projected revenue from the Mill (1.2500) is set to increase from $1,490,150 in FYE2025 to $1,717,720 in FYE2029. Additionally, contributions from Penny for Pinellas are expected to rise from $587,600 in FYE2025 to $648,523 in FYE2029, providing a steady stream of funds for community projects.

Other significant revenue streams include the Electric Utility Tax and Stormwater Fee Revenue. The Electric Utility Tax is projected at $530,000 for FYE2025, increasing to $609,290 in FYE2026, and then stabilizing at $600,000 annually from FYE2027 through FYE2029. Stormwater Fee Revenue is forecast to grow from $315,000 in FYE2025 to $357,200 in FYE2029, supporting essential water management efforts.

Interest income also plays a role in the CIP's financial projections. It is expected to be $85,000 in FYE2025, with a significant jump to $375,000 in FYE2026, before adjusting to $154,500 in FYE2027. These varied funding sources collectively form the backbone of Clearwater's strategy to maintain and enhance its public infrastructure over the coming years.