RES 95068 - Laserfiche WebLink

Honorable Mayor and Members of the Council: BACKGROUND The five year capital improvement program has been prepared to provide the City Council with information necessary to determine capital improvement needs over the next five years. The 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 will most likely be the first considered, should additional funding become available. 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 the 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. A detailed overview of recommended expenditures and revenue projections, as well as the introduction to the CIP which highlights revenue and expenditure estimates as well as significant CIP projects is attached to this report. DISCUSSION The proposed CIP estimates expenditures of $53,286,827 over the next five years from estimated available revenue of $59,393,520. The first two years of the program are proposed to be funded and authorizes 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 an annual review has been completed. The two-year funding proposal differs from past CIP's in which funding was only authorized for the first year of the program. However, to be consistent with the Operating Budget, which has been modified to a two-year plan, and to better facilitate staffs project development planning, the two-year funding period is proposed. On June 7, 1995, your Council held a workshop to discuss the proposed program. At that workshop, and during the June 5th Operating Budget workshop, a number of issues were raised by the public and your Council regarding this program. A summary of these issues and staffs recommendations are as follows: SR95:210 -2-