FirmoGraphs keeps its clients up to date on capital plans of interest for long-term business development. We help our customers use this information to gain a competitive advantage and improve proactive conversations with their clients. We recently processed the latest capital spending plan by the Framingham, Massachusetts. Here are our observations.
In the CIP covering the 2024-2028 fiscal years, City of Framingham, Massachusetts detailed plans to spend $428.9 million on capital projects, a decrease of 8% from $467.1 million in its 2023-2027 CIP. The current CIP has 206 discrete line items, compared to 246 line items in the prior CIP. The table below breaks down Framingham’s planned capital spending by business area for its last two CIPs.
*Numbers are Rounded
Sewer Enterprise and Public Works Planned Spending Drops
Planned spending in the Sewer Enterprise decreased by 31% due to completed projects such as constructing the Worcester Road Sewer, Northeast of E-W Connector Phase III, worth $8.8 million. The Public Works category also decreased by 13%. The decrease is due to the 16 projects nearing completion in 2023, including various road improvements, sidewalks, and ADA compliance projects for Fiscal Year 2023 worth nearly $9 million and construction of the Street/Dudley Road Intersection worth $3.9 million. On the other hand, a new project in the Schools category, the replacement of Harmony Grove and Cameron Schools, worth $10.3 million, resulted in a 5% increase in this category.
Over $100 Million Worth of Investment For Schools Project
Framingham has two notable projects, one valued at over $100 million and one valued at over $10 million, both belonging to the Schools category. The largest project is the MSBA Major Renovation/Replacement project, worth $110 million. This project goes for the renovation/replacement of Hemenway Elementary School. Another $10.3 million is planned for the Roof Replacements-Harmony Grove and Cameron Schools project.
How FirmoGraphs Can Help
FirmoGraphs curates data about U.S. public sector markets, including capital plans, regulatory developments, and other critical information. We help our customers use this information to gain competitive advantage and improve proactive conversations with their clients. We’d be glad to meet with you and help your company sort through the wealth of information in capital plans and other publicly available documents. Feel free to request a meeting and review the data live in our Business Intelligence platform.