OFFICE OF CAPITAL IMPROVEMENT PROJECTSG.O. BOND / CAPITAL IMPROVEMENT PROGRAMNext Meeting of the Capital Improvement Oversight Committee:
Monday, September 10, 20125:30 p.m.Commission Chambers1700 Convention Center Drive3rd Floor
Meeting Schedule - Oversight Committee
The General Obligation (G.O.) Bond program is a primary way the City finances the cost of physical improvements to the City's neighborhoods, streets, parks, beaches, public safety facilities, and other facilities. G.O. Bonds are sold to investors and are re-paid solely from property taxes. By law, G.O. Bonds are used to pay for projects that do not produce revenue.
The City's Capital Improvement Project Program started with a plan to refurbish the City’s parks. The Parks Master Plan, funded by a $15 million voter-approved General Obligation Bond in 1995, was the first comprehensive approach by the City to improve public facilities in a wholesale fashion. The original plan to improve 16 parks and facilities, today touches every neighborhood in the City and almost every street, and touches the lives of almost every resident, business owner and visitor.
An Oversight Committee has been formed from among community leadership to ensure that the G.O. Bond-funded Capital Projects are carried out as proposed, and that the community needs are met. The Committee serves as an advisory body to the City Commission and city administration in matters pertaining to the CIP program.