RES 01078 - Laserfiche WebLink

THE CITY OF ATTACHMENT A pL£AS NTON. May 25, 2001 Honorable Mayor and City Council: SUB~: CAPITAL IMPROVEMENT PROGRAM FOR FISCAL YEARS 2001-02 TO I. IN'I~ODUCTION This Five Year Capital Improvement Program (CIP) has been prepared to provide the City Council and the community with information necessary to identify capital improvement needs, projects and reserves for the next five years. Consistent with the City's two-year budget program, it is recommended that the first two years of the CIP be adopted and that funds be appropriated to cover the projects included in these two years. The projects included in the final three years of the CIP are tentative based on currently identified needs and revenue projections and as such, are subject to revision to accommodate changes in priorities and/or expected funding levels. As part of the ongoing budget monitoring program, staff intends to conduct a thorough review of the Capital Improvement Program at the end of Fiscal Year 2001-02 and will provide the City Council with any recommended changes on the projects and revenues being proposed in this CIP as part of this Mid-Term Budget process. BecaUse a significant portion of the total revenue available to the Capital Improvement Program is derived from development related fees assessed on new development and sources not directly related to ongoing City revenue, the status of the economy, state and federal programs and policies and the amount of local development activity during the next several years will play a major role in the City's ability to finance projects included in this program. As a result, similar to previous CIP's, staff has taken a conservative approach to forecasting development approvals and related revenue. As a result, as indicated later in this introduction and further detailed in the Appendix Section 2, future development- related projections are based entirely on residential and commercial development which have received all necessary approvals, including growth management approval. In addition, consistent with previous CIP's, development revenue allocated to fund FY 2001-02 projects is derived primarily from fund balances and development related revenue collected in FY 2000-01.