Belmont Planning Commission backs $53 million capital plan

The five-year plan totals $53 million and includes nearly 90 projects in total, such as the O’Neill Street undercrossing, Island Parkway Pump Station updates, lighting improvements at the Belmont Sports Complex and safety improvements to parts of Old County Road. It also includes electric vehicle charging stations, McDougal Field improvements and City Hall renovations, among others. 

About half of the capital spending is allocated for sewer and storm drain improvements, roughly $17 million across five years. The other half is mostly designated for road repairs, with the remaining going toward parks, open space and technology. 

The city is also in the process of finalizing its operating budget, which is facing a $500,000 general fund deficit, according to a recent staff report and presentation. Estimated revenue for the upcoming fiscal year, which starts in July, are about $35.3 million, while expenses are estimated to reach $36.1 million. The city plans to draw on its reserves to fill some of the gap. Many cities throughout the Peninsula are also facing operating deficits, given the loss of a substantial revenue source tied to vehicle license fees, a complicated reimbursement that the state historically provides to Peninsula cities annually, however, most jurisdictions have failed to receive the full amounts over the last couple years.

The City Council is expected to formally adopt the budgets at its meeting next week.