The Town of Apex’s Capital Improvement Plan (CIP) is a strategic long-range blueprint used to prioritize major projects, and distribute financial resources to those projects, for a five-year period. To qualify for the CIP, a project must: have a high impact, cost more than $100,000, and be used for at least three years. Common projects listed in the CIP include road and sidewalk improvements, expansion of parks and greenways, and town facility construction.
So how does a project make its way onto the CIP? Here’s the process:
Need Is Identified—This can happen in various ways, through staff or town council suggestions, community feedback, long-range plan updates, etc.
Project Is Submitted by Staff—Staff creates a summary of the project, including a brief description, its connection to the town’s strategic goals, an estimated cost (upfront and recurring), and whether the project will need more funding in the future.
Project List Is Scored—Each project is evaluated by a staff committee using a scoring matrix across eight categories, including public health and safety, legal mandates, economic development, capacity, budget impact, and other technical factors.
List Is Prioritized—Town Council then ranks the list, according to which projects they believe are most critical to achieving the Town’s strategic goals and, accordingly, have the most pressing need for immediate funding.
Funding Source Is Determined—Funding sources could include tax revenue, fees paid by developers, federal and state grant matching programs, private-public partnerships, bonds.
List Is Adopted—After a period of public review and feedback, the CIP is adopted by Town Council during the annual operating budget process.
Year One Is Included in Budget – While the plan identifies needs over a five-year period, funding is committed one year at a time through the budget process.
Then the cycle begins all over again! The plan is a living document, open to changing needs and priorities from one cycle to the next.
View the full list of projects on the Capital Improvement Plan: www.apexnc.org/CIP
How do Bonds connect to the CIP?
Bonds come into play as a funding source when a bundle of similar CIP projects are identified—like transportation, parks, or water/sewer infrastructure—and have a high priority (based on needs, emergencies, or timing) to complete faster than our annual revenues can cover.
General Obligation Bonds are a tool used by local government to finance major capital improvement projects. They work similarly to your home mortgage loan, which allows you to finance a large purchase over time. Because of the longer payback period (typically 20 years), the financial impact is not applied only to current residents, but also to those who move to Apex after the projects are complete as they will also be potential users of the facilities.
The decision to use bonds as a tool for financing is ultimately up to Apex voters. Each time a bond is proposed by the town as a way to pay for a major project, it is placed on the ballot during a regular election.
The Town of Apex is in a good position to repay bonds, as proven through our AAA bond ratings from two national credit rating agencies—Moody’s and Standard & Poor’s. AAA is the highest rating possible, received after a full analysis of all aspects of an organization’s financial management. Maintaining a AAA rating demonstrates to current and future bond financers that the Town’s financial future is secure. It also gives the Town the best options for lowest interest rates.
Bond Projects in Process
Complex projects take years to plan, design, and construct—which is one reason that the Town is allowed seven years from the date of authorization to start using the funds and can apply to the State for an extension of three additional years if needed.
Read on for a status update on four current projects that are included in our Capital Improvement Plan, and funded (in part or in whole) by bond revenues.
Apex Peakway Southwest Connector
The Town is currently in the final phases of design and planning for the Apex Peakway Southwest Connector. Apex Peakway is designed to serve as a loop around the town, improving both mobility and connectivity for drivers and pedestrians.
The Peakway was included in the first Apex Transportation Plan in 2002, but conceptual plans date back to 1965. Various portions of the Peakway have been constructed using Town funds. Other pieces have been completed by private developers, required by the town as a condition of their development.
The southwest connector project will complete a missing gap in the Peakway by constructing a bridge over S. Salem Street and the CSX railroad tracks. This completed section will allow Peakway continuity from Center Street all the way around town to Highway 55.
Planning for this section has taken longer than usual due to several factors—the complexity of crossing over the railroad and a State-owned road, and enhancements to the bridge design resulting from public feedback. The southwest connector is funded by Transportation Bonds, plus federal matching grant funds.
Below is a timeline of events you can expect for this project:
Relocation of electric utilities (Fall 2023)
Final coordination with NCDOT (Fall / Winter 2023)
Begin construction (Early Spring 2024)
Once construction begins, the project is anticipated to take up to three years to complete. As with any major infrastructure project, the schedule is subject to change due to weather and other factors outside of the Town’s control.
Our project page will be updated monthly with the latest information, construction timelines, and frequently asked questions: www.apexnc.org/peakway
Middle Creek Greenway
The expansion of Middle Creek is a multi-phase project that was funded in part by the 2017 Parks Bond, with an additional $1.5 million in funding contributed by Wake County. Construction began in September 2023 with the contractor (Fred Smith Company) staking greenway limits and installing tree protection fencing. The Middle Creek Greenway will be a mix of 10-foot-wide asphalt paved path, bridges, and sections of boardwalk.
In this expansion, over a mile of greenway will be added to the existing corridor, connecting the Sunset Lake Road trailhead to Colby Chase Drive with a new crossing under NC540. Many neighborhoods will be connected through this expansion, including Sunset Hills, Reunion Pointe, Miramonte, and Pemberley.
Future phases of the Middle Creek Greenway expansion will connect the Sunset Lake Road trailhead to Lufkin Road Middle School and are planned to span 4.16 miles total. This greenway is a part of the Great Trail State Plan and provides connectivity to Holly Springs, Cary, and downtown Apex.
Stay up-to-date on the Middle Creek Greenway Corridor by visiting the project page: www.apexnc.org/middlecreek.
Beaver Creek Greenway
Expansion of the Beaver Creek Greenway is also partially funded by the 2017 Parks Bond, and is a multi-phased project. The first phase of expansion is 1.26 miles, connecting Apex Nature Park to Kelly Road Park.
The Town is working with NCDOT to provide formal approval, or ‘concurrence’, for the contract award. With NCDOT concurrence, the Town and our contractor will complete contracts, set a schedule for construction, and prepare for the project. It’s important to note: once plans for onsite construction are in place, the Town will communicate a 30-day window of the anticipated construction start date by mail to all property owners or HOAs with properties located next to the greenway path / easement or access points.
The expansion phase has an anticipated completion date of summer 2025. Once complete, the Beaver Creek Greenway will have a 4-mile connection from Apex Nature Park to Jaycee Park. The greenway will connect 11 neighborhoods, three parks, three schools, and multiple retail and employment areas.
Future phases of the Beaver Creek Greenway Corridor will reach the American Tobacco Trail, which has been identified as a priority regional connection by Wake County.
Stay up-to-date on the Beaver Creek Greenway Corridor by visiting www.apexnc.org/beavercreek.
Pleasant Park
Pleasant Park is now open to visitors! This long-awaited, premier 92-acre park is located at 3400 Pleasant Plains Road and is open daily, year-round from 6:30 a.m. to 10:00 p.m.
Completed features of Pleasant Park include:
6 multipurpose turf fields
4 tennis courts, 6 pickleball courts, and 2 basketball courts
1.5-acre Enchanted Forest play area with inclusive play villages: Kingdom in the Clouds, Reverie, Gnome’s Hollow, Marvelous Melody, Discovery Dig, Sticks & Stones, Trollway Bridge, and Reading Nook
2 shelters with restrooms, available for rentals
Fieldhouse with concession area, staff offices, meeting space, and restrooms
Team gathering areas for large events
When warm weather returns in spring 2024, Splashlantis will welcome guests as the first water play amenity in Apex! Also coming in 2024 is a full 5K cross-country course.
Future amenities for Pleasant Park include baseball/softball fields, sand volleyball courts, road improvements, and more.
Learn more about Pleasant Park at www.apexnc.org/pleasantpark.
How can you be part of the CIP process?
Public feedback is critical to the process of identifying needs and prioritizing projects. Each year, the Town surveys residents to gain feedback on how they’d like to see the budget prioritized for the upcoming fiscal year. The Budget Prioritization Survey is live now through February 2—scan the QR code and let us know what’s important to you!
If you prefer an in-person option, speak up at our pre-budget public hearing during the regular Apex Town Council meeting on Tuesday, January 9, 2024.
Learn more at www.apexnc.org/budget.
