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Page 16 of 20 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />FY CIP Adopted Budget <br />2025-26 $8,000,000* <br />2024-25 $15,378,770** <br />2023-24 $4,600,000 <br />2022-23 $2,687,000 <br />2021-22 $1,420,000 <br />2020-21 $560,000 <br />2019-20 $1,800,000 <br />2018-19 $160,000 <br />2017-18 $3,411,000 <br />2016-17 $251,000 <br />2015-16 $163,680 <br />*Recommendation for upcoming budget <br />*$13.2M of this budget is from grants <br />Table 4: Adopted Stormwater System budget by year <br />5. Financial Constraints for City Utilities and Actions to Moderate Rate Increases <br />In addition to funding challenges, particularly for the stormwater system, the City faces significant <br />financial constraints due to rising costs for capital improvement projects. Prices have steadily increased <br />due to a number of factors: <br />The cost of labor has risen, <br />The cost of construction increased dramatically over the past four years, as documented by the <br />California Construction Cost Index (CCCI, prepared by the California Department of General Services) <br />showing year over year increase of general construction projects: 13 percent, 9 percent, 9 percent, <br />and 2 percent. <br />Sanitary sewer rates are uniquely affected by the need to fund the reconstruction of the SVCW treatment <br />plant. This project is expected to cost upwards of $900 million and the City’s projected costs for the years <br />2025 to 2028 are $36M, $41M, $44M, and $47M respectively. For comparison, the $47M in 2028 equates <br />to 87 percent of the system’s 2025 allocated budget. <br />9.A. - Page 16 of 20 <br />501