Montgomery County Executive Marc Elrich this week transmitted his $5.05 billion recommended Fiscal Year 2023 Capital Budget and FY23-28 Capital Improvement Program (CIP) to the County Council. The County Executive’s funding recommendations address major capital needs over the next six years.
This is County Executive Elrich’s second full CIP and is an increase of $740 million (17.2 percent) over the prior approved FY2021-26 CIP budget. The County Council will examine the recommended budgets over the next four months and approve the County CIP in late May.
“As I release my second full CIP, I am proud of my administration’s achievements which now allow us to leverage more State Aid for school construction, to address climate change, and to promote economic development through substantial transportation investments,” said County Executive Elrich. “With increased investments in our schools, affordable housing, early care centers for our youngest children, facilities to address barriers to residents’ well-being, and maintenance of core infrastructure, this CIP strengthens the resiliency of County government, our local economy, and the residents we serve. Central to these efforts is our partnership with the County Council to advance racial equity, social justice, and climate change in the County.”
Highlights of the recommended CIP include:
- Total capital investments exceed $5 billion over the six-year period—$740 million over the prior CIP.
- $1.8 billion for Montgomery County Public Schools (MCPS) capital projects over the six-year period
- $55 million more than was requested by the Board of Education.
- Record amount of funding for schools if approved.
- $327.1 million for Montgomery College projects.
- 1 percent increase over the prior budget.
- Initial funding for new Montgomery College East County campus.
- $408.4 million for Bus Rapid Transit
- $394 million for Bus Rapid Transit (BRT) projects along MD355 and Veirs Mill Road.
- Construction of BRT Route along MD355 from Rockville to Germantown to extend fast, high-capacity transit for communities not served by Metrorail, with additional funding for designing the remaining portions (Rockville to Bethesda and Germantown to Clarksburg).
- $146.3 million for affordable housing projects
- $132 million for affordable housing acquisition and preservation investments over the next six years—$22 million each year.
- In conjunction with a $14.8 million supplemental—$36 million will be available over the next 18 months to support affordable housing projects.
- $20 million for the Affordable Housing Opportunity Fund—a $6 million increase.
- $8.2 million to support Housing Opportunities Commission projects.
- A new Affordable Living Quarters project to provide permanent, affordable housing to very low-income households.
- White Oak and White Flint Redevelopment public-private partnerships.