As we close out the fourth quarter, FY 2024 reflects Cary’s new era of maturation and the associated financial realities projected in the Imagine Cary Community Plan. 

For many years, we relied on revenue generated by unprecedented development growth to fund new projects and initiatives for the community. While development in Cary continues, and redevelopment becomes more prevalent, revenue in these areas is strong but not comparable to what we’ve experienced in the last three decades. Additionally, market conditions are resulting in increased costs for core services, as well as reduced revenue growth. Reflecting on this quarter and year, it is clear we have entered a new financial reality, one that will continue to shape our future, bringing both challenges and opportunities for us as a community. 

In this new landscape, managing our expenditures is paramount. This is reflected in our FY 2025 budget, which focuses on ensuring Cary remains well-positioned for the future, including investment in priority areas without further expansion, while maintaining services. These priorities, determined by Council and citizens, included housing, parks, and environmental sustainability in Q4.

A major milestone this quarter was adopting the Urban Forest Master Plan, a 10-year strategy for stewarding and growing our tree canopy. This plan underscores our commitment to enhancing our urban environment and engaging our citizens through programs like My Tree, Our Tree, which added 1,000 trees to our canopy this spring. Additionally, Council approved a plan for over $7.2 million for affordable housing, facilitating the construction of new units and preserving existing homes to ensure a high quality of life for all residents.

We also celebrated the opening of the USA Baseball Training Facility, a state-of-the-art venue built with sustainability in mind. This facility promises to be a hub for player development and community engagement. Furthermore, the conversion of fields 3 and 4 to artificial turf marks a significant upgrade, allowing for increased usage and reduced maintenance. All upgrades to the USA Baseball National Training Complex leveraged private dollars from community partners. Cary’s commitment to sports excellence was also highlighted by hosting The Soccer Tournament at WakeMed Soccer Park for the second year in a row. This, among other events held this quarter, showcases our top-tier facilities.

As we move into the next budget year, we must ask ourselves difficult questions about our priorities and be willing to adapt our behaviors to align with our financial realities. It is through this introspection and prudent decision-making that we will continue to thrive as a community.
In the spirit of resilience and forward-thinking that defines Cary, I am confident we can navigate these changes together, ensuring that Cary remains a great place to live, work, and play.

We look forward to sharing more updates at our next quarterly meeting on Aug. 8 at Courtyard by Marriott.

In appreciation, 

Sean R. Stegall
Town Manager