Of the total budget for 2022, US $ 142 million is dependent on loans that are repaid through property taxes in the operating budget.
Last year, Rhodes-Conway proposed an investment budget of $ 166 million. The difference in their offerings this year – $ 189.3 million – is due to federal funding that includes the budget for the city’s bus-suburban train project, finance director David Schmiedicke said.
“With this budget, we are also continuing our commitment to building a rapid transit bus system in Madison that will improve commute times and reduce congestion, including $ 4 million in 2023 for planning the North-South Rapid Bus Line (BRT) in addition to the East-West BRT line under construction soon, ”said Rhodes-Conway.
When preparing the budget, Rhodes-Conway outlined the key priorities in the areas of equity, sustainability, future planning, health and safety, tax consequences, and feasibility. She also noted that not every project could be funded – total borrowing was reduced by $ 20 million in the CIP compared to that requested by the agencies.