RES 93108 - 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 also contains 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 they will most likely be the first considered should additional funding become available. The proposed program is a product of staff discussions and meetings and represents staff projections of estimated revenues and required projects over the next five years. As with any forecasting program, unforeseen changes in the economy, building industry, emergency response requirements and other conditions may substantially impact the priorities as set forth in the program. As a result, the annual review reassesses all projects in view of existing economic and infrastructure conditions to assure that available revenues are targeted towards projects which are the highest priority. As an outcome of each year's review, certain projects which have been scheduled for funding in previous CIP's may be used in a different year or to an unfunded status. Conversely, projects which were previously unfunded may be moved to a funded status. A detailed overview of CIP expenditure recommendations and revenue projections as well as a summary of the document's organization and contents is include~l in the attached material which has been revised July 20, 1993, and in accordance to the City Council's workshops held on June 22 and 29. As indicated on the attached material, the program proposes FY 1993/94 expenditures of $14,048,177, total expenditures for the five years is estimated at $47,291,472. Estimated revenue in the first year is $17,882,127 and $54,260,779 over the full five years of the program. As indicated previously, only the fLrst year (FY 1993/94) of the program is actually funded. At its workshop of June 25, the City Council expressed an interest in further reviewing the priorities recommended in the parks and miscellaneous programs. As express~?.d at the workshop, the Council' s primary concern was assuring that the projects recommended were those which most closely coincided with the revenue estimates and the overall needs of the community. As a result, staff has presented the Council with an option of approving the CIP without the parks and miscellaneous projects program. Because a SR93: 345 2