Boulder’s City Council devoted a significant portion of its study session Thursday evening to discussing a long-term financial strategy that will enable the city to implement its Facilities Master Plan.
The FMP, which was accepted by the Council in October 2021, “encompasses a holistic view of the city’s entire building portfolio and provides a strategic framework to guide investments that provide environmental sustainability, social responsibility and financial stewardship in city buildings,” according to a city memo.
City Architect Michele Crane, who gave a presentation on the financial plan for the FMP, noted the city’s current portfolio includes 75 buildings that encompass 1,870,326 square feet of space and have a combined value of $707,000,000. Crane said many of these buildings are aging and are near the end of their functional life.
“Holistically, our building portfolio is in poor condition,” Crane said during her presentation. She added the city’s buildings will cross into critical condition just past 2030 if Boulder maintains its current approach to investment. Some — such as the North, East, and South Boulder Recreation Centers — are at, near, or past an “inflection point” where it makes sense to question the feasibility of continued investment.
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