RES 94083 - Laserfiche WebLink

five years. The program contains recommendations for funded projects and a detailed description and listing of unfunded projects. High priority unfunded projects have been highlighted as a way of indicating the importance of these projects and the fact that they will most likely be the first considered should additional funding become available. The proposed program represents projections of estimated revenues and recommended projects for the next five fiscal years. As with any forecasting program, unforeseen changes in the economy, construction/building industry, emergency response requirements and other conditions may substantially impact the priorities as set forth in the program. As a result, the annual review reassess all projects in view of existing economic and infrastructure conditions /needs to assure that available revenues are targeted towards projects which are of the highest priority. As an outcome of each year's review, certain projects which had been scheduled for funding in previous CIPs may be moved to a different year or to an unfunded status. Conversely, projects which were previously unfunded may be moved to funded status. To help track funded projects from previous CIPs, Appendix B and C lists the status of projects funded in fiscal years 1992/93 and 1993/94. A detailed overview of CIPs recommended expenditures and revenue projections, as well as a summary of the document's organization and contents, is included in the introduction of the Program which is attached to this report. DISCUSSION At its workshop of June 29, the City Council discussed a number of issues relative to the proposed CIP. A summary of these issues are as follows: 1. The community park in North Pleasanton should be listed as a high priority unfunded project rather than a FY 1994 /95 funded project since park funding has not yet been identified. While staff is in concurrence with the basic concept that projects should not be shown as funded until revenue to support the projects has been identified, listing the North Pleasanton Community Park as a funded project is being proposed as a means of tracking revenue which will be used to support improvements for this park. Particularly, staff is attempting to track the revenue received from the Signature Properties' Hacienda Business Park residential development and potential revenues from the Spanish Oaks development to assure that it is not allocated to other projects. As the Council is aware, park dedication fees from these two projects have been viewed as the primary funding source for park improvements. SR94: 242 2