SR 05:168 - Laserfiche WebLink

VI. CONCLUSION This CIP presents a wide range of street, parks, utility and public facility projects that will address many community interests and needs. However, the City is currently involved with significant planning activities that will potentially place a heavy emphasis on prioritizing, scheduling and funding a range of new projects that will impact future CIP's and the City Operating Budget. As an example, a listing of major projects currently being studied, planned, or designed include the following: · Acquisition of Additional Downtown Parking · Additional Lighted Sports Fields · Alviso Community Park Construction Aquatic Center Expansion and Renovation · Bemal Property Grand Meadow Construction · Civic Center Master Plan · Cultural Arts Complex · Firehouse Arts Center Construction · Library Expansion or Construction of a New Library · Outdoor Amphitheater · Youth/Community Center Construction · Veteran's Memorial Building Remodel This list will ultimately be augmented with the major street, utility and major remodeling and maintenance projects for existing facilities, such as the Gingerbread Preschool and Amador Theater, that will need to be addressed as the City strives to meet community expectations. In addition, with the exception of new cultural arts facilities, the facilities listed above will not generate any significant revenue needed to address the operations of these facilities unless the Council adopts new cost recovery policies that deviate significantly from current practice. Many of the facilities listed above developed quite recently primarily out of the acquisition of the Bemal Property and in an attempt to address community interests. While the development of these facilities represents an exciting challenge for the community, previous financial planning efforts designed to meet long term community CIP needs did not anticipate many of these improvements, and as a result, financial planning tools put in place previously will provide only limited funding that will be inadequate to fully fund these projects. While staff and previous Councils have taken a conservative approach in developing and financing this and previous CIP's, this approach may not be ideal for future CIP's which may require new revenue sources, including potentially the issuance of general obligation bonds, to fully finance these projects. As a result, staff anticipates that additional financial analysis and an increased emphasis in developing priorities and phasing of facility improvements will be necessary as we move from the concept phases to the planning phases for these facilities. Staff is confident that this plan addresses the City's current capital improvement requirements and through the collective efforts of the Council and the community, these future challenges will be met in a way that maintains the high quality of existing streets, facility and utility infrastructure and allows for the development of new facilities in a cost efficient and effective manner. xxii