Montgomery County Executive Marc Elrich introduced his first recommended $4.23 billion FY 21-FY26 capital improvements program (CIP) and FY21 capital budget to address the County’s major needs over the next six years.
Despite constrained resources, the proposed CIP includes significant investments in public schools, Montgomery College, transportation, pedestrian safety, economic development, affordable housing, and climate change initiatives.
According to a press release:
The recommended CIP for all County agencies (excluding the Washington Suburban Sanitary Commission) represents a decrease of $141.9 million (3.2 percent) from the FY19-24 amended CIP.
The recommended CIP includes $1.71 billion over the six-year period for Montgomery County Public Schools (MCPS), which represents 94.3 percent of the school system’s request. MCPS represents the recommended CIP’s largest expenditure category and Elrich’s highest priority with 40.5 percent of the total CIP.
The CIP includes $152 million to preserve and increase affording housing options, including a record $132 million over the next six years for the Affordable Housing Acquisition and Preservation project. A new Housing Opportunity Fund will proactively assist affordable housing deals earlier in the financing process.
More details about the recommended FY 2021-26 CIP is available here.