Recession dips into capital projects

Sarasota city officials might have to cut down the list of capital improvement projects planned for the next decade, in another sign of the impact of the recession.

The city recently announced it will move ahead with some projects, but it also warned that the drop in property tax revenues could put some projects at risk. “We're going to have to take projects off the list,” City Manager Bob Bartolotta says in the Sarasota Observer, sister paper of the Business Review. “They're all worthy projects, but the money isn't there.”

City officials promised many projects that were approved by a sales-tax referendum, but those promises were based on the projection that the tax would bring in $8.2 million. It has currently generated $5 million.

The list of potential projects is currently at 52 and 50 have dedicated funding sources. The total estimated cost of doing those projects today is $182 million, according to the Observer.

The projects comprise six categories: critical infrastructure; enhancement, economic development; transportation; quality-of-life; and sustainability.