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project. Following consultation with Town Council, a new bid process will be scheduled in May 2019 with

alternates that can be reviewed. The goal is to award this project before the end of the Fiscal Year.

Fiscal Year 2020 proposes new capital expenditures of $5,000,000 supported through appropriation from

existing reserves previously set aside for capital projects. Recommended projects for Fiscal Year 2020

include:

Other than the Indian Creek Greenway Project, all of these projects would require additional future year

funding for construction. Each of these projects is considered a viable future bond referendum project. If

any of these projects is included in a bond referendum for consideration and approval by Town of

Morrisville voters, use of these reserves could be reimbursed from bond proceeds via resolution of Town

Council.

Town Council continues to discuss and deliberate on the future of our Town Center. The outcomes of those

important work sessions will be incorporated into future budgets as we move forward on this important

investment in our Town Center Core and complements the completed Carolina Street Extension

roundabout and the Morrisville Community Library, which will open in the second half of Fiscal Year 2020.

Debt

The Town’s debt policy outlines the goal of keeping tax-supported debt service to a maximum of 15% of

governmental expenditures. The Town’s current annual debt obligation of $3,492,000 in Fiscal Year 2020

is 9.9% of the proposed budget as compared to 5.7% of the original budget for Fiscal Year 2019. There is

Town Council’s adoption of the budget/CIP reduced the design appropriation for Crabtree Creek Nature

Park; added Fire Station #2 Relocation project; appropriated reserves in FY 2020 for NC 54 Corridor

Congestion Mitigation projects that is inclusive of Airport Boulevard Extension; and Future Priorities to

demonstrate the importance for future capital planning interest.

Park West/Morrisville

Parkway Area Fire

Station

$2,500,000

CIP Reserve

Site

Identification

Land

Purchase

Design

and/or

Renovation

Crabtree Creek

Nature Park

$1,225,000

PPIL Reserve

Design and

Engineering

Morrisville

Community Park

Phase III

$700,000

PPIL Reserve

Design and

Engineering

Northwest Fire

Station

$300,000

CIP Reserve

Due Diligence

Indian Creek

Greenway Connector

- Town Hall Terraces

$275,000

PPIL Reserve

Construction