Boston City Council Reviews $4.7 Billion Five-Year Capital Plan at Budget Hearing

BOSTON -- April 23, 2024, Boston's City Council Ways and Means Committee heard a presentation on the city's proposed $4.7 billion fiscal 2025-2029 capital plan, a nearly $500 million increase over the prior five-year blueprint. Committee Chair Brian Worrell, District 4 City Councilor, presided as CFO Ashley Groffenberger and Budget Director Jim Williamson outlined a plan spanning 427 projects financed 76 percent through general obligation bonds backed by the city's AAA credit rating. Williamson flagged that the plan is expected to approach the city's 7 percent debt-service policy limit, warning that a hypothetical move from 6 percent to 8 percent would cost an additional $94 million in a single year. Major investments include $65 million for a new Grove Hall community center, $31 million for a Fields Corner library, $197 million for bridge and infrastructure repairs, and $26 million for school bathroom renovations. Parks Commissioner told the committee 13 new parks are set to open in calendar year 2024, including Copley Square, O'Day in the South End, and multiple Roxbury sites.