At their July 16, 2021 workshop, Council had initial discussion about potential funding mechanisms and projects for the City’s first Capital Improvements Plan (CIP).  For a recap of what was discussed see the transmittal letter and the attached powerpoint that was used as a guide during the discussion.

Based on the feedback received, staff has put together a draft CIP “strategy” that encompasses; see attached graphic showing how the information for each project is arranged:

• A comprehensive list of road; pedestrian; and buildings and facilities capital projects for the next five to ten years.  (See attached compendium of individual project sheets for more information.)
• By project,
  • approximate timing of major project milestones (e.g. planning/design; land acquisition; construction commencement);
  • approximate project costs, including 1) total cost* 2) per fiscal year and 3) total costs over the next five fiscal years (the primary timeframe of the CIP); andfunding source(s).

*In cases where issuance of debt is a/the proposed funding source, interest has also been estimated based the parameters discussed at the prior workshop – 2% over a 16 year payment schedule. 

Preparation of the strategy incorporated the following:

• Council feedback on priority projects and fiscal policies
• Economic Development Board feedback on priority projects and fiscal policies
• An internal staff assessment of each project that factored in:
  • Up front capital costs;
  • Annual operating costs;
  • Effects on health and safety;
  • Environmental, aesthetic, and social effects;
  • Feasibility of implementation;
  • Implication of deferment;
  • Interjurisdictional commitments;
  • Fulfillment of city goals and policies; and
  • Prior City investment on a related project
• Existing and projected revenue
• Existing and future debt service obligations
• Interrelated effects of projects on one another and on projects outside the scope of the CIP—and vice versa.

Though the attached strategy focuses on next five fiscal years, FY 21/22 through 25/26, the underlying analysis included debt service projections through the life of bonds.