As part of the FY2013 budget development process, the City Manager proposed a new CIP to City Council that invests in corridors, increases connections, and improves communities. The proposed investment plan funds $926.4 million in infrastructure improvements from 2012 through 2020, includes four bond referenda, and is funded by a 3.6-cent property tax rate increase – increasing the current rate from 43.7 cents per $100 valuation to 47.3 cents. The information below – and documents listed to the right – provides details on the proposed CIP.  

What is a CIP?
The CIP is a multi-year forecast of major capital infrastructure needs matched to funding sources. 

Why is a CIP important?

• Plan demonstrates how the City will meet current and future infrastructure needs: A CIP outlines how the City plans to replace aging infrastructure and address new infrastructure needs associated with a growing city.
• Strengthens Credit Rating: Rating agencies review the City’s ability to adapt to growth and to maintain its infrastructure. If it appears that a City is not keeping up with its growth, it will likely face higher, future infrastructure costs, which may impact the City’s ability to repay existing debt and obtain future debt. Currently, the City of Charlotte maintains a AAA credit rating (highest rating attainable) to secure low interest rates for the issuance of debt to fund new infrastructure.
• Supports Neighborhoods and Businesses: Adequate infrastructure supports strong, vibrant neighborhoods and business expansion.

What investment areas are proposed in the new CIP?

• Corridors: promote economic development, expansion, and job creation
• Connections: increase connectivity with road projects, streetcar extension, and infrastructure improvements
• Communities: address affordable housing, neighborhood improvement, and quality of life needs

What are some of the anticipated outcomes from the proposed CIP?

• Job growth, economic development, and improved access to job centers
• Broadening of the City’s property tax base
• Improved mobility
• Strengthened neighborhoods

How were capital projects evaluated for inclusion in the CIP? 

• The proposed CIP includes projects that:
  • Align with Council’s Vision for Charlotte 2020
  • Leverage investment
  • Best serve as catalysts for transformative change
  • Place emphasis on larger rather than smaller projects
  • Have long-term impact to address systemic issues
  • Provide measureable outcomes of these investments

Documents to the upper right under “Proposed FY2013-FY2017 CIP” include the following information:

• CIP Summary Brochure: Outlines the development approach to the new CIP, proposed list of projects, proposed bond referenda, and a map showing the general locations of the capital investments
• CIP Projects By Year: Outlines all proposed projects by year and funding sources (General Obligation bond debt or Certificates of Participation debt)Supplemental CIP Project Descriptions: Information includes additional detail on some of the proposed projects including:
  • Applied Innovation Corridor
  • UNCC Informatics and Innovation Partnership
  • Current and Prior East/Southeast Corridor Investments
  • Cross Charlotte Multi-Use Trail
  • Streetcar
  • Comprehensive Neighborhood Improvement Program – Neighborhood Profiles  
• Budget Retreat Packet – March 21, 2012: Packet includes Council’s 2020 Vision Statement and Action Item, a Statistical Snapshot of Charlotte, and the current Pay-As-You-Go cash-funded portion of the CIP
• CIP Key Highlights: 2-page summary of key elements of the proposed CIP 
• CIP Presentation: PowerPoint presentation outlines the proposed CIP concepts, projects, and funding structure