The Metro Council approved over 4-billion dollars worth of capital improvements projects last night, as part of Davidson County’s annual budget process.
The Council, however, didn’t actually appropriate 4-billion dollars–any new building, major remodel or replacement equipment that needs city funding must be on the so-called ‘wish-list,’
Approving this list, which covers projects through 2014, is the first step in the process. Metro Finance Director Rich Riebeling says over the next month, the Mayor’s office will decide which projects they’ll fund this year.
“I mean, I think the first priority is determining what we can afford. There’s been a number of projects that have been authorized over the last few years, and our debt capacity really doesn’t allow us to do all of them so there does have to be some priority given to what are the most important needs of the citizens and this community in general.”
Public Works, the Water Department, the Metropolitan Development and Housing Agency and Metro Schools account for most of the requests for various projects. However the new downtown convention center is the biggest single item at 625-million dollars.
Riebeling says some money has already been allocated to MDHA to start the design process for the convention center. While most of the capital projects are funded with bonds, the convention center will be paid for with special tourism taxes.
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