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BACKGROUND <br />The Capital Improvement Program (CIP) has been prepared to provide the City Council <br />with information necessary to determine capital improvement needs over the next four <br />years. The program contains recommendations for funded projects and available <br />revenues. As with any forecasting program, unforeseen changes in the economy, <br />funding, and other conditions may substantially impact the priorities as set forth in this <br />program. However, staff has taken steps to minimize these impacts so that the <br />Program accurately reflects CIP projects. The introduction to the CIP, which highlights <br />revenue and expenditure estimates and projects, is attached to this report as <br />Attachment A. <br />DISCUSSION <br />Upon adoption of the CIP, the first two years of the program will be funded and adoption <br />authorizes staff to begin work on these projects. However, staff does not expect to <br />begin incurring any significant costs on new projects funded in the second year of the <br />program until after the completion of the mid-term review scheduled for June 2008. <br />CONFORMANCE WITH GENERAL PLAN/PLANNING COMMISSION REVIEW <br />As part of the CIP approval process, the Planning Commission must adopt a resolution <br />indicating the Program is consistent with the General Plan. This matter was reviewed by <br />the Planning Commission at is regular meeting of June 13 and the resolution was <br />adopted. A copy of the resolution is attached to this report as Attachment B. <br />Submi d by: <br />Nelson Fialho <br />City Manager <br />Attachments: <br />A. CIP Approving Resolution <br />B. CIP Narrative and Financial Summary Tables <br />C. Resolution from Planning Commission <br />Page 2 of 2 <br />