Today, Mayor Rhodes-Conway released her 2024 Executive Capital Budget and 6-Year Capital Improvement Plan (CIP), which detail her funding proposals for buildings, infrastructure and other capital investments in Madison. The Capital Budget is half of the City’s budget. In October, the Mayor will introduce her 2024 Executive Operating Budget, which focuses on services, staffing and programs.
“One of local government’s most fundamental responsibilities is to provide the infrastructure that meets our basic needs, supports our local economy and allows us to go about our daily lives safely and efficiently,” said Mayor Rhodes-Conway. “Our city is growing rapidly, and our infrastructure needs are growing as well. My Capital Budget invests in the basics needed to support safe communities and strong neighborhoods, while looking to the future with investments in affordable housing and climate action.”
The Mayor announced her budget at the Urban League of Greater Madison’s new Black Business Hub alongside community leaders who are helping to catalyze the South Madison renaissance. The Executive Capital Budget released today includes key investments in affordable housing, land acquisition, public facilities and transit that help make the vision laid out in the South Madison Plan a reality. The budget plans $24 million in investments in South Madison for new housing and an expanded Public Health Clinic.
INVESTING IN HOUSING AND NEIGHBORHOODS
Neighborhoods across the city will see continued investments in our parks, libraries, bike trails and more. We also continue to invest heavily in affordable housing as Madison continues to grow.
INVESTING IN INFRASTRUCTURE FOR A GROWING CITY
Basic infrastructure like clean water, sewers, accessible streets, bike paths and bridges form the foundational backbone of every city. We build, maintain, expand and improve them to ensure everybody has access to basic services. This budget provides:
CREATING A MORE SUSTAINABLE CITY
Madison is a national leader in executing bold plans to reduce our emissions and invest in a more equitable future, and this budget continues moving us down that path. We are leveraging federal dollars for the clean energy transition that will help us move faster and reduce costs.
As always, the budget seeks to leverage every state and federal dollar available to address increased inflationary costs and to reduce the burden on local property tax payers. But the City is held back by a Republican legislature that does not believe in returning to Madison a fair portion of what the city’s residents provide to the state in sales and income taxes.
“After decades of declining state aid, we had hoped that the historic state budget surplus would result in increased support for the state’s fastest growing city. Unfortunately, the Republican-controlled State Legislature found many ways to prevent our residents from receiving a fair share of state aid. Madison received an insignificant increase, less than 1% of our total budget. Fortunately, continuing investment by the federal government will help the City meet its growing capital needs, but cannot fill the hole left by the lack of shared revenue,” said Mayor Satya.
This Capital Budget reflects careful decision-making to balance the needs of the community with sound fiscal management.
“This budget makes careful investments to maintain and improve our critical infrastructure, help address the challenges we are facing as a community and enhance key community institutions. With these investments, we are continuing to build a better, greener and more resilient Madison,” said the Mayor.
The Mayor’s Executive Budget will be discussed at City Finance Committee meetings beginning September 11, with Common Council action beginning November 14, allowing multiple opportunities for resident input.