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• AMENDED CIP PROJECTS Amended Project Previous New Reason for Adjustment Total Total Community Park Reserve $543,742 $9,718,471 Results from anticipated fee revenue from recently approved high density residential development. Capital Improvement $495,000 $6,568,472 Results from an anticipated $2.6 Program Reserve (CIPR) million in General Fund transfers in 2015-16 and 2016-17 and anticipated fee revenue from recently approved high density developments. Also and as noted above, this Mid-Term budget anticipates $2.6 million in General Fund transfers in the final two years of the program. As noted in the Mid-Term CIP, the inclusion of these General Funds is dependent upon meeting projected General Fund revenue estimates and the City's overall budget framework and as such, a final determination will be made on these transfers as part of the 2015-16 Budget. It should also be noted that the CIP projects receipt of approximately $17,681,990 from City development impact fee revenue and these projections are subject to change based on a range of conditions including, changes to the overall economy and/or construction schedules that would impact the timeline for construction of major projects included in the revenue projections. These projects include, in part, the Pleasanton Gateway Commons, BRE, Auf der Maur, and Summerhill multi-family residential projects. Based on its review, staff has prepared the attached resolution approving the Mid-Terri CIP and if approved, staff will be moving forward working on those projects funded in 2014-15. Submitted by: Fiscal Review: Approve by: Steven Bocian Emily Wagner Nelson Fialho Assistant City Manager Director of Finance City Manager Attachments: 1. CIP Approving Resolution 2. Recommended Mid-Term Capital Improvement Program for 204-15 through 2016-17