RES 97073 - Laserfiche WebLink

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 would most likely be the first considered for funding should appropriate revenues become available. In addition, new for this year's program, is the inclusion of a "partially funded" category. Partially funded projects are those projects which are scheduled for funding after a special project reserve has accumulated the revenues necessary to meet project costs. However, until fully funded, the projects will remain in the partially funded category. 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 this program. As a result, this review reassesses 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. The introduction to the CIP which highlights revenue and expenditure estimates/projects is attached to this report (Attachment A). General Plan Review This CIP was reviewed by the Planning Commission at their meetings of May 28 and June 11. At the June 11 meeting, the Planning Commission took action determining that the Capital Improvement Program was consistent with the City's General Plan. DISCUSSION The proposed CIP estimates expenditures of $57,450,157 over the next five years from estimated available revenue of $73,403,244 (excluding the available fund balance of $11,719,350 and $654,850 in development fees scheduled to be received in Fiscal Year 2001/02 but transferred to 2002/03, the total available new revenue is $61,029,044). As a way of comparison, the Capital Improvement Program adopted by the City Council in Fiscal Year 1995/96 included estimated revenues of $53,286,827 over a five year period from estimated available revenue of $59,393,520. The first two years of the program are proposed to be funded and adoption authorizes the staff to begin work on these projects. However, staff does not expect to begin incurring any significant costs on new projects funded in the second year of the program until the start of that fiscal year after the completion of the midterm review scheduled for June of 1998. SR 97:191 2