RES 01078 - Laserfiche WebLink

IV. SUMMARY OF MAJOR CIP PROJECTS WD EXPENDITURES The CIP includes a total of 75 projects that are recommended for funding in FY 2001-2002 and FY 2002-2003 and a total of 89 projects for ail years. As listed previously, total expenditures for the first two years are estimated at $44,762,565. Total expenditures for ail five years of the CIP is estimated at $83,321,965. As detailed in the City's Development Impact Fee Report dated September 19, 1998, a number of projects included in the CIP are scheduled to be funded with a combination of development fee revenue and other sources. In this CIP, revenue derived from development fees is listed as "Expansion" (Exp) revenue while revenue derived from the City's contribution to projects is listed as "Replacement/ Improvement" (R/I) revenue. While the CIP attempts to assure that the percentage ailocation of revenues for a specific project is consistent with the percentages set forth in the Fee Report, due to the availability of Generai Fund revenue and the unavailability of development related revenue at this time, a number of projects are funded using Replacement/Improvement revenue that exceeds the scheduled mount. In these cases, the percentage of "replacement/improvement" revenue that exceeds the required amount will be viewed as a loan from the Generai Fund to the appropriate development fee. The loan will assure that these amounts can be included as part of future development fee studies to assure that adjusted fees are consistent with the amount needed to provide for specific projects as well as repayment of loans to the City. A listing of projects included in the fee study as well as this CIP and the appropriate percent ailocation amount is detailed in the table below. SUMMARY OF IMPROVEMENT VERSUS REPLACEMENT FUNDING FOR MAJOR CIP PROJECTS TOTAL POTENTIAL PROJECTED AS CURRENTLY FUNDING LOAN PROJECT NAME** IN FEE STUDY FUNDED IN CIP AMOUNT" Exp. R/I Exp. R/i Total* Expansion MISCELLANEOUS Additional D~wntown Parking (Reserve) 20% 80% 20% 80% $900,000 $0 Alviso Adobe Community Park 20% 80% 10% 99% $2,408,396 $472,795 City Hall Office Building 8: Civic Center Site Improvements (Reserve) 20% 80% 10% 90% $13,550,000 $1,355,000 Development of City Trails Projects 20% 80% 13% 87% $215,510 $6,465 Fire S~ation No. 1: Relocation to the Bemal Property at a TBD Location (Design and Reserve) 100% 0% 65% 35% $3,000,000 $1,050,000 Lease/Debt Payment for Animal Shelter 20% 80% 20% 80% $505,000 $0 Bemal Community Park (Reserve) 20% 80% 78% 22% $2,281,742 $0 Val Vista Park (Remaining Balance) 20% 80% 52% 48% $5,915,981 $0 xvii