North Carolina Construction News staff writer
Wilmington City Council has approved a $351 million city budget for FY 2024 with the following priorities: increasing affordable housing opportunities, modernizing infrastructure, and “preparing for the city’s future needs” and growing demands on city services.
“I want to commend our city staff and this Council for a very responsible budget that invests in immediate priorities and critical long-term needs without a tax increase,” said Mayor Bill Saffo. “These investments in affordable housing, public safety, roads and infrastructure, and high-quality public services and amenities will continue to improve Wilmington’s quality of life for residents and its attractiveness as a place to grow a business and create good jobs.”
The budget includes the purchase of a 12.5-acre downtown campus for public use including over 1,000 new parking spaces near Riverfront Park and Live Oak Bank Pavilion
Highlights of the budget:
- $2.2 million to continue supporting and growing affordable housing programs
- $16.2 million for street and sidewalk preservation and maintenance projects, including $8 million for the street rehabilitation program, a 33 per cent increase ($2 million) in funding to support an additional 8-10 lane miles of rehabilitated pavement next year.
- Funding to purchase a 12.5-acre campus in northern downtown, which includes a 1,000+ parking deck to add capacity by Riverfront Park and Live Oak Bank Pavilion and a large office building which can be repurposed to consolidate many city operations under one roof. Having received state approval on June 6, the city hopes to close the purchase in mid-July.
The FY24 city budget is available online at www.wilmingtonnc.gov/budget.