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vii

City of Raleigh

Introductory Section

The City continues to recognize economic benefits from its investment in downtown and other areas of the City.

The Raleigh Convention Center Complex has been met with outstanding bookings by regional, national and

international conference groups, and continues to experience positive momentum. The Center held 270 events

with 402,976 attendees during the twelve month period ending June 30, 2016. The events during fiscal year

2016 included 57 conventions and tradeshows, as well as 23 competitions, which had an estimated $49.4 million

economic impact on Wake County. The Red Hat Amphitheater also has held a large number of events since opening

in June 2010. Thirty-seven shows brought more than 107,000 attendees in the most recent summer season.

Major Initiatives

A

number of key projects and initiatives in

fiscal year 2015-16 reflect the City’s continuing

involvement in its vital capital infrastructure.

Raleigh leaders approved a new plan for

downtown which will focus on creating a

greener community, creating connections,

and revitalizing and redeveloping the

downtown area. The City of Raleigh acquired

the Dorothea Dix property from the State of

North Carolina, a 308-acre site that the City

plans to develop into a destination park, for

$52 million in July 2015. The City finalized its

Central Operations Facility in early fiscal year

2015-16, which sits on a 37-acre site just north

of downtown Raleigh. The facility houses

the Streets division, Vehicle Fleet Services,

Traffic Engineering, and Parks and Building

Maintenance staff. The City completed the Central Communications Center, a 95,000 square foot facility housing

the Raleigh-Wake Emergency Communications Center, the Raleigh Emergency Operations Center, Raleigh Traffic

Control Center and Raleigh Data Center. The facility was occupied in May 2016.

Long-term Financial Planning

T

he City seeks to consistently maintain a strong financial position as evidenced by its AAA/Aaa ratings from the

three major credit rating agencies. This objective requires regular long-term planning of operating and capital

requirements for its major general government and enterprise programs. In doing so, the City relies on key financial

policies and procedures for dealing with future events in financially responsible ways.

Annually the City adopts a 10-year Capital Improvement Program (CIP) that looks ahead to project and plan for

capital needs. Phase I encompasses the first 5 years of the CIP and addresses both project needs and financial

strategy for this period. Phase II of the program, spanning the second 5-year period, includes longer range projects

identified as necessary for the continuation of existing service levels to the citizens of the City.

Phase I of the CIP spans fiscal years 2015-16 through 2019-20. The major areas included in Phase I are transportation,

public utilities, parks, housing, stormwater utility, technology and general public improvements. The public utilities

and transportation programs represent the largest portions of the CIP due to the strong growth of our area and the

large amount of utility and transportation needs.

$100

$80

$60

$40

$20

$0

2012 2013 2014 2015 2016

Millions

67,827,670

71,115,246

76,003,994

88,813,721

82,794,037

Five-Year Sales Tax Revenues