City Adopts Operating & Capital Improvement Project Budgets

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	Finance
	Annual Budget & CIP
	CAFRS
	Municipal Fee Schedule

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The new budget year for the City of Santa Clara started July 1, 2003. The City Council approved budgets for the City and utility operations and capital improvement at its meeting on June 10. Several study sessions and a public hearing, during which community needs and requests were considered, were held earlier in the spring.

The City's 2003-2004 general fund Operating Budget is $122.9 million, a 1.95% increase over the prior year's budget. A $93.4 million Capital Improvement Project (CIP) Budget was approved by the Santa Clara City Council in cooperation with the Redevelopment Agency of the City of Santa Clara and the City's Sports and Open Space Authority. It includes a wide variety of major projects that will serve the needs of many segments of the community:

$5.5 million in Redevelopment Agency funds for the replacement of Fire Station No. 6
$35.0 million in additional funding from the City's Electric Utility to complete construction on the Donald Von Raesfeld Power Plant
$20.0 million to develop of senior housing on the former Bay Area Research and Extension Center property

The combined City and Redevelopment Agency budgets include $12.5 million for affordable housing programs and services. Since the 1990's, Santa Clara has budgeted almost $82.5 million on affordable housing programs. These programs include below-market new homes, first-time homebuyers loans, residences for seniors and the disabled, transitional housing for homeless families, shelters for homeless teens, and rehabilitation loans for existing properties.

More detailed information may be reviewed in the City Clerk's Office, the City Manager's Office or at the Central or Mission Library Reference Desk. For information call (408) 615 - 2340.