| Agenda Item: | 2. | | Agenda Title: | Discussion and update regarding current and future City projects and priorities for strategic planning purposes including, preparation of the City’s FY 2021-22 – 2025-26 Capital Improvements Plan | Council Action:
| Discuss and Consider Action | | Department: | City Secretary | | Staff Contact: | Lindsey Oskoui, Clint Garza |
1. INTRODUCTION/PURPOSE
Discuss and Consider Action on the City's draft Capital Improvements Plan including reaching consensus on assumptions related to funding sources and initiating discussion related to the Capital Improvement Plan Project List and prioritization.
2. DESCRIPTION/JUSTIFICATION
a) Background
A Capital Improvements Plan is a planning and fiscal management tool intended to chart a 5-10 year path for the implementation of the physical infrastructure associated with a City’s Comprehensive and other long-range Plans and goals.
Over the course of the last several years, the City has adopted plans and discussed a variety of possible projects, including but not limited to:
b) Issues and Analysis
Based on adopted plans and discussions to date, the City is the process of preparing and adopting its first Five-Year Capital Improvements Plan, which includes projects associated with roads; pedestrian connectivity; parks; and buildings/facilities.
The City is the process of preparing and adopting its first Five-Year Capital Improvements Plan, which includes projects associated with roads; pedestrian connectivity; parks; and buildings/facilities.
The two main purposes of this workshop are to:
1) Reach consensus on assumptions related to funding resources, including
a. assumptions on revenue sources; and
b. maximum debt service tolerance
In addition to staff, Julie Houston with Orrick Partners, the City’s Bond Counsel, and Chris Lane with SAMCO Partners, the City’s Financial Advisor will be on hand to answer questions related to the City’s financial position and bond issuance considerations.
2) Initiate discussions related to Capital Improvement Plan Project list and prioritization, including
a. reaching consensus on certain assumptions used for project cost calculations
Please refer to the attached “DRAFT CIP PRESENTATION” and DRAFT CIP Project Compendium for more detailed material on the two topics listed above.
Please note that the cost assumptions are preliminary and will be revised as needed based on this Friday’s discussions—the cost estimates listed in the presentation reflect staff’s construction estimates in today’s dollars *1.1, rounded to the nearest $10,000 to account for unknowns that may increase the price, such as inflation.
3. FINANCIAL/BUDGET
| Amount Requested | | | Fund/Account No. | | | Cert. Obligation | | | GO Funds | | | Other source | | | Grant title
| | | Addtl tracking info | |
4. TIMELINE CONSIDERATIONS
5. RECOMMENDATION
Reach consensus on funding resource assumptions and maximum debt service tolerance.
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