The Finance Committee held a public meeting on February 11, 2026 to review and discuss the Capital Budget and Public Investment Planning in advance of the FY27 budget season.

1 MINUTES OF THE CAMBRIDGE CITY COUNCIL FINANCE COMMITTEE WEDNESDAY, FEBRUARY 11, 2026 FINANCE COMMITTEE MEMBERS Councillor Al-Zubi, Co-Chair Councillor Nolan, Co-Chair Vice Mayor Azeem Councillor Flaherty Councillor McGovern Councillor Simmons Councillor Sobrinho-Wheeler Councillor Zusy Mayor Siddiqui A public meeting of the Cambridge City Council’s Finance Committee was held on Wednesday, February 11, 2026. The meeting was Called to Order at 12:00 p.m. by the Co-Chair, Councillor Al-Zubi. Pursuant to Chapter 20 of the Acts of 2025 adopted by Massachusetts General Assembly and approved by the Governor, this public meeting was hybrid, allowing participation in person, in the Sullivan Chamber, 2nd Floor, City Hall, 795 Massachusetts Avenue, Cambridge, MA and by remote participation via Zoom. At the request of the Co-Chair, Clerk of Committees Erwin called the roll. Councillor Al-Zubi – Present/In Sullivan Chamber Vice Mayor Azeem – Present/Remote Councillor Flaherty – Absent Councillor McGovern – Present/In Sullivan Chamber Councillor Nolan – Present/Remote Councillor Simmons – Present/Remote Councillor Sobrinho-Wheeler – Present/In Sullivan Chamber Councillor Zusy – Present/Remote Mayor Siddiqui – Present/In Sullivan Chamber Present – 8, Absent – 1. Quorum established. Co-Chair Al-Zubi noted that the Call of the meeting was to review and discuss the Capital Budget and Public Investment Planning in advance of the FY27 budget season. Present at the meeting was City Manager, Yi-An Huang, Deputy City Manager, Kathy Watkins, Assistant City Manager for Fiscal Affairs, Claire Spinner, and Budget Director, Taha Jennings. Co-Chair Al-Zubi offered opening remarks and read from the following statement (not verbatim): The order of today’s meeting will be quick opening remarks from myself and Co-Chair Nolan if she wishes, presentation from the Finance team, public comment and then Council discussion. As we jump into today’s meeting, I want to remind us that today’s meeting is a part of a series of meetings that will help Council inform long-term planning of our city. The material you have on

2 the presentation shares more about the capital budget conversation. It’s important for us to hold this with our operating budget. For me, I will be focused on how we can navigate our capital budget so that it is reflective of how we can invest in public good especially when it comes to topics like how we can do more to treat things such as housing as a human right in partnerships with organizations, state-level work and beyond. Co-Chair Al-Zubi recognized Co-Chair Nolan who offered opening remarks and shared that she looks forward to the conversation. Co-Chair Al-Zubi recognized Kathy Watkins who gave a presentation titled “FY27 Capital Budget”. The presentation was provided in advance of the meeting and included in the Agenda Packet. Claire Spinner reviewed upcoming Finance Committee meetings that are being planned for the FY27 Budget Hearings. Taha Jennings shared information on educational community meetings being held for the public. Co-Chair Al-Zubi opened public comment. Young Kim, 17 Norris Street, Cambridge, MA, urged the City to provide information and be transparent on capital funding and bonding costs. Heather Hoffman, 213 Hurley Street, Cambridge, MA, urged the City to prioritize open space rather than spending money on certain projects during fiscal uncertainty. Co-Chair Al-Zubi recognized Councillor Sobrinho-Wheeler who asked for more information related to the street capital expenditure and what is included under streets, noting that some may think the costs are used primarily for bike lanes. Councillor Sobrinho-Wheeler added that street maintenance and bike improvements usually happen at the same time. Kathy Watkins shared that the City is making more effort to be transparent with capital budget project funding. Kathy Watkins explained that most bike lane projects themselves are low-cost but are usually done at the same time as street paving because the City would need to improve them at some point, noting that much of the costs are for maintaining and rebuilding the street, not specifically for bike lanes. Councillor Sobrinho-Wheeler agreed that being more transparent with the community about where project funding is going would be beneficial. Councillor Sorbinho-Wheeler explained that for future projects, it may be ok to go for the “silver standard” rather than the “gold standard” to help with budgeting. Councillor Sobrinho-Wheeler added that when the City chooses to do more expensive capital projects, it takes away from other resources, such as homelessness services. Kathy Watkins agreed that going forward the City can be more thoughtful on design choices and their associated costs. Kathy Watkins clarified that capital projects are usually a one-time expense, even if they are paid over multiple years, noting that saving money on one project does not mean that same amount would become available in the operating budget. Co-Chair Al-Zubi recognized Councillor McGovern who shared he had similar concerns as Councillor Sobrinho-Wheeler related to the Cycling Safety Ordinance, bike lanes, and Massachusetts Avenue spending. Councillor McGovern shared a brief overview of why the project had a cost of $50 million, and suggested renaming it a Complete Streets project, rather than CSO project. Councillor McGovern agreed that going forward, projects should be scaled

3 down in order to save money. Councillor McGovern asked for more information on renovations to DePasquale Playground in Danehy Park. Kathy Watkins clarified that renovations would not be happening to the new playground. Councillor McGovern suggested adding ADA accessible bathrooms near the all-inclusive playground area. Kathy Watkins shared that a fully accessible Portland Loo restroom has been approved to be installed. Kathy Watkins added that bids will be going on in the next couple of months with the hopes of construction starting in the fall. Co-Chair Al-Zubi recognized Councillor Zusy who spoke in support of spending on infrastructure, noting that addressing infrastructure needs early will prevent high costs later, which is why it is important for the City to plan ahead. Councillor Zusy agreed with previous comments related to transparency with total project costs, sharing that the priorities listed in the presentation on page 22 should have the costs associated with them available. Councillor Zusy also questioned why some priorities were not listed, such as social housing and municipal broadband. Councillor Zusy offered suggestions related to municipal projects and bids. Councillor Zusy asked for more information related to costs on street improvements in the upcoming FY26-FY30 budgets and BEUDO. Kathy Watkins explained that street improvements are funded by multiple sources, such as sewer revenues. Kathy Watkins stated that street improvements will include addressing neighborhood streets as well as the main corridors and that the Department of Public Works will be updating the five-year plan and looking at more cost-effective approaches. Kathy Watkins added that much of the street work will also be addressing Massachusetts Avenue. Kathy Watkins agreed that it is important to plan and address infrastructure needs sooner than later. Co-Chair Al-Zubi recognized Co-Chair Nolan who pointed out that Cambridge is more expensive due to high labor and environmental standards, while also being a dense city, and that previously, the City did not have to pay such close attention to costs. Councillor Nolan added that the City Council passed the CSO without a good sense of what total costs were going to look like, noting that having a better understanding of the tradeoffs may have helped with the implementation. Councillor Nolan asked if the City has ever approached a project with a maximum cost and asking contractors what options would be available with that number. Councillor Nolan added that projects in Cambridge are higher than surrounding communities, and that it will be important going forward to have financially feasible projects. Kathy Watkins shared that improvements with Massachusetts Avenue are being made with budget restraint and that proposed designs are being evaluated to help decide what can be achieved with the budget. Kathy Watkins noted that unexpected cost increase can still happen, but the City is having difficult conversations with staff, project teams, and the community related to the budget and project costs. Councillor Nolan asked for more information related to spending on open space and parks. Kathy Watkins explained that open space and park projects are included in the bond schedule and because they are split between multiple years, the budget numbers do not look as high. Councillor Nolan noted the importance of decarbonization and that it is something that can pay for itself over time through reduced operating expenses. Co-Chair Al-Zubi recognized Mayor Siddiqui who shared that she agrees with a lot of what has been said already. Mayor Siddiqui raised concerns about the bond schedule for the FY26-FY30 budget years, noting that Cambridge has been fortunate to have the opportunity to do important capital project work. Mayor Siddiqui asked if the City needs anything from the City Council to

4 help support the sequencing and how it is managed. Kathy Watkins shared that many of the projects are established and will continue to show in the capital budget. Mayor Siddiqui asked how the City is planning on being transparent with the City Council and the many projects that need prioritizing, noting that having a timeline in place helps the City Council respond to questions and concerns from residents. Kathy Watkins explained that many projects in the next five years are already planned which leaves limited short-term flexibility. Kathy Watkins noted that more opportunities to prioritize and discuss new projects will happen in the later years of the capital plan. City Manager Huang shared that he looks forward to continuing conversations with the City Council and added that each budget cycle provides a clear view of the City’s long-term capital plans. City Manager Huang noted that each budget shows the broader planning process and that projects would need to be prioritized carefully. Claire Spinner emphasized the importance of balancing investments across different areas, which helps make decisions and projects to move forward. Co-Chair Al-Zubi asked for additional information on the timeline between when a project is approved, completed, and when debt service payments begin. Co-Chair Al-Zubi also asked about bond authorizations, maintaining debt levels, and how capital-related work funded through operating channels, such as nonprofit grants, is reflected in the budget. Co-Chair Al-Zubi highlighted the importance of understanding project costs, scope, and prioritization, and added that she and Co-Chair Nolan will be working with City Councillors to clarify Council priorities. Kathy Watkins provided an overview of the timeline and shared the process of what happens after the City Council approves a project. Kathy Watkins noted that bonds may be spread over multiple years for large projects, and most of the funds need to be spent within a certain timeframe. Kathy Watkins shared that the debt service payments begin after the bonds are issued and can vary over time. Claire Spinner provided additional information related to bonds, noting that for large projects the City tries to have the full project approved so the City Council understands the total cost. Co-Chair Al-Zubi had clarifying questions related to information on page 15 of the presentation. Kathy Watkins responded and shared that the goal is to align the debt growth with the operating budget growth, while still making investments in infrastructure. City Manager Huang added that the City supports nonprofit projects though cash grants, which is funded through the operating budget, not the capital budget. Co-Chair Al-Zubi thanked City staff for their responses and shared that she looks forward to having more discussions to gain a better understanding on how investments are reflected in the City’s financial planning. Co-Chair Al-Zubi recognized Councillor Zusy who shared concerns about the City’s debt levels and having a target of 5%. Claire Spinner provided information related to the 5% target, noting that it refers to the annual growth in the debt services costs, and not reducing debt to 5% of the operating budget. Claire Spinner added that the goal is to not reduce the debt service to 5%, but to keep its annual growth around 5%. Co-Chair Al-Zubi thanked staff for their presentation and shared she looks forward to future discussions. Co-Chair Al-Zubi recognized Councillor Sobrinho-Wheeler who made a motion to adjourn the meeting. Clerk of Committees Erwin called the roll.

5 Councillor Al-Zubi – Yes Vice Mayor Azeem – Absent Councillor Flaherty – Absent Councillor McGovern – Yes Councillor Nolan – Yes Councillor Simmons – Yes Councillor Sobrinho-Wheeler – Yes Councillor Zusy – Yes Mayor Siddiqui – Yes Yes – 7, No – 0, Absent 2. Motion passed. The Finance Committee adjourned at approximately 1:47p.m. Attachment A – Communications from the public. Clerk’s Note: The City of Cambridge/22 City View records every City Council meeting and every City Council Committee meeting. The video for this meeting can be viewed at: https://cambridgema.v3.swagit.com/videos/374905