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Item 4.
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| City Council Regular | |
| Date: | 12/09/2024 |
| Title: | FY2026 - FY2030 Capital Improvement Plan |
| Presented by: | Andy Zoeller, Finance Director |
| Department: | Finance |
| Presentation: | Yes |
| Legal Review: | No |
| Project Number: | N/A |
RECOMMENDATION
Staff recommends City Council adopt the FY2026 - 2030 Capital Improvement Plan.
BACKGROUND (Consistency with Adopted Plans and Policies, if applicable)
The Capital Improvement Plan (CIP) is a critical component of our city's financial management and planning, serving as a blueprint for capital projects over the next five years. It is important to understand the significance of the CIP in ensuring responsible stewardship of our city's resources and the long-term well-being of our community.A CIP is a document that outlines a five-year strategy for capital projects. Capital projects are defined as those that exceed $25,000 in cost and have a useful life of more than one year. These projects encompass various areas, including new construction, property acquisition, and the renovation of existing structures. It's essential to note that the CIP does not cover routine vehicle purchases, repairs, maintenance, or operational expenses.
The FY2026 Capital Improvement Plan was presented and discussed at the November 18, 2024 City Council work session. At that meeting, Council directed staff to make adjustments to three projects, which are reflected in the attached proposed CIP. The direction was to set the FY2026 CIP for the following three projects:
Amend Park Rec Center - Set the total planned costs at $18.2 million. The FY25 budget included $1 million for planning and design, the remaining $17.2 million is included in the FY26 CIP.
Amend Park Turf Field - This project was directed to be included at the originally proposed amount of $1.8 million, and is included in the FY26 CIP.
South Park Pool Renovation - Set the total planned costs at $10 million. The FY25 budget includes $400k for planning and design, the remaining $9.6 million is included in the FY26 CIP.
All other projects remain the same as what was presented at the November 18th work session.
The total FY2026 - 2030 CIP has a total planned project cost of $551,667,558 across all departments. The initial planned amount for FY2026 is $106,811,169. If adopted as presented, this amount will be included in the FY2026 budget. This significant financial commitment reflects our city's dedication to improving infrastructure, enhancing public services, and ensuring the growth and well-being of our community.
Some of the larger projects that are planned for FY2026 are:
The FY2026 Capital Improvement Plan was presented and discussed at the November 18, 2024 City Council work session. At that meeting, Council directed staff to make adjustments to three projects, which are reflected in the attached proposed CIP. The direction was to set the FY2026 CIP for the following three projects:
Amend Park Rec Center - Set the total planned costs at $18.2 million. The FY25 budget included $1 million for planning and design, the remaining $17.2 million is included in the FY26 CIP.
Amend Park Turf Field - This project was directed to be included at the originally proposed amount of $1.8 million, and is included in the FY26 CIP.
South Park Pool Renovation - Set the total planned costs at $10 million. The FY25 budget includes $400k for planning and design, the remaining $9.6 million is included in the FY26 CIP.
All other projects remain the same as what was presented at the November 18th work session.
The total FY2026 - 2030 CIP has a total planned project cost of $551,667,558 across all departments. The initial planned amount for FY2026 is $106,811,169. If adopted as presented, this amount will be included in the FY2026 budget. This significant financial commitment reflects our city's dedication to improving infrastructure, enhancing public services, and ensuring the growth and well-being of our community.
Some of the larger projects that are planned for FY2026 are:
- Airport Interior Terminal Rehab
- Amend Park Rec Center
- South Park Pool Renovation
- Rimrock Road Improvements from Clearview Drive to 54th Street
ALTERNATIVES
City Council may:
- Approve the resolution adopting the CIP; or
- Amend the CIP and approve the resolution adopting the amended CIP,
- Not Approve the CIP and direct staff to make appropriate changes for adoption at a later date.
FISCAL EFFECTS
The proposed CIP for the next five years totals $551,667,558 across multiple city departments. The initial allocation for FY2026 amounts to $106,811,169. If adopted as presented, this amount will be included in the FY2026 budget. This significant financial commitment reflects our city's dedication to improving infrastructure, enhancing public services, and ensuring the growth and well-being of our community.
These projects are planned to be funded through a combination of existing charges, future revenues, grants, donations, or debt.
These projects are planned to be funded through a combination of existing charges, future revenues, grants, donations, or debt.
| Revenue Source | FY26 | FY27 | FY28 | FY29 | FY30 | Total |
|---|---|---|---|---|---|---|
| Charges to City Departments | 53,000 | 600,000 | 300,000 | 953,000 | ||
| Contributions | 10,782,986 | 400,000 | 814,080 | 137,900 | 50,000 | 12,184,966 |
| Debt | 31,008,000 | 7,614,000 | 23,712,540 | 8,017,000 | 3,243,000 | 73,594,540 |
| Grants | 10,351,497 | 36,071,879 | 23,742,438 | 28,877,100 | 18,690,000 | 117,732,914 |
| Special Assessments | 7,368,000 | 11,797,000 | 9,189,000 | 16,276,000 | 10,956,000 | 55,586,000 |
| PRPL Operating (General Fund Transfer) | 2,575,000 | 2,450,000 | 2,605,025 | 1,200,000 | 2,300,000 | 11,130,025 |
| State Revenues | 8,270,000 | 30,108,000 | 8,890,000 | 3,195,000 | 7,139,000 | 57,602,000 |
| Tax Revenues | 541,494 | 918,498 | 1,352,769 | 4,147,500 | 10,000 | 6,970,261 |
| User Fees and Charges | 35,861,192 | 41,624,193 | 42,407,192 | 40,235,081 | 55,786,194 | 215,913,852 |
| Total CIP | 106,811,169 | 130,983,570 | 113,313,044 | 102,385,581 | 98,174,194 | 551,667,558 |