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Olson maps out capital improvement plan to June 2012


Farragut town administrator Dan Olson revealed the proposed capital improvement plan to the Farragut Municipal Planning Commission recently, highlighting how the town could allocate its resources over the next five years.

“I do the budget in five-year cycles,” Olson said. “Our new fiscal year starts the first of July.”

Olson’s capital improvement plan, which runs from fiscal year 2007-2008 out to fiscal year 2012, would eventually become a part of the town’s budget process, he said.

Olson said he faced several challenges in putting this plan together, including fluctuating oil prices and Tennessee Department of Transportation’s warning to municipalities of a lower probability of grant availability.

“They said people are driving less due to higher gas prices,” Olson said. “T-D-O-T gets its money from gasoline tax, so with fewer people driving it gets less money. T-D-O-T is expecting a shortfall.”

Olson said many of the projects slated for the future and currently in progress use grant money for partial funding.

Olson’s projections show an expenditure of more than $13.2 million in the next five fiscal years with town revenues reaching more than $14.1 million. In the fiscal year 2007-2008, Olson has slated a little more than $5.5 million in proposed expenses. The largest of these expenses include $1.5 million for McFee Road Park, $895,000 for improvements to Campbell Station Road between Parkside Drive and Jamestowne Boulevard, $680,000 for work on Kingston Pike at Everett Road and $500,000 for work on Concord Road.

Some of these projects include grants to help defray town costs.

“We try to be extremely conservative when it concerns grant money,” Olson said. “A lot of possible grants might not be a factor in the process unless the project concerns a state road.”

In terms of the major projects slated for expenditures this coming year, the $1.5 million for McFee Road Park is something the town has been planning for several years.

“The town purchased twenty-six acres of land to be used as a park in about nineteen ninety-five,” Olson said. “The purchase was financed with a private issue capital note. The budget proposed for this next year is for the construction of phase one, which includes an entrance road, restroom facility, two lighted soccer fields, parking and a lighted walking trail.”

The $895,000 budgeted for, or improvements to, Campbell Station Road between Parkside Drive and Jamestowne Boulevard is to get started on a project that would improve Campbell Station. It would be widened to five lanes, he said, to support the completion of the Campbell Station extension project.

“We anticipate letting the project out for bid sometime this spring,” Olson said. “Sometime next fiscal year we will be responsible for additional engineering and a portion of construction costs.”

The Kingston Pike at Everett Road project would add a center turn lane to Kingston Pike, he said. The center lane would be from 200 feet east of Way Station Trail to 500 feet east of Everett Road.

The improvements would require widening the three-span bridge over Little Turkey Creek with the addition of curb and gutter and sidewalk.

“We’ve approved a contract with T-D-O-T detailing their responsibilities and ours,” Olson said.

The money for Concord Road would be to expand and improve it out to Northshore Drive, Olson said. Costs for engineering, design and right-of-way acquisition would be incorporated into budgets for fiscal year 2008 and 2009.

 

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