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Item 1.O.
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| City Council Regular | |
| Date: | 02/27/2023 |
| Title: | FY24-28 Capital Improvement Plan - Transportation & Parks and Recreation |
| Presented by: | Andy Zoeller, Finance Director |
| Department: | Finance |
| Presentation: | No |
| Legal Review | Not Applicable |
RECOMMENDATION
Staff recommends approval of the FY 2024 - 2028 Capital Improvement Plan for Transportation and Parks and Recreation
BACKGROUND (Consistency with Adopted Plans and Policies, if applicable)
At the 12/19/2022 regular meeting, City Council adopted the FY2024 - 2028 Capital Improvement Plan except the areas related to Transportation and Parks and Recreation. City Council requested additional information on these specific areas focusing on prioritizing certain projects. At the 02/06/2023 work session, staff presented additional information showing Transportation and Parks of projects with focus in certain areas. At that meeting, City Council directed staff to proceed with the modified Capital Improvement Plan for Parks and Transportation.
Parks and Recreation
Additional information was provided on tennis facilities and spray grounds. Significant capital projects have been identified that will require general obligation debt to complete. While specific projects and timelines have yet to be identified, estimated projects and amounts have been included in the Parks CIP. The attached Parks CIP plan reflects the Parks and Recreation projects that are recommended to be funded through existing resources and a list of potential projects that could be funded through future voter approved financing. Total FY 2024 - 2028 CIP for Parks and Recreation is $225 million. This amount will change as further refinement of debt financed project occurs.
Transportation
Three annual programs were added or increased: Safe Routes to School (SRTS) non-sidewalk implementation, PAVER, and traffic-calming. The SRTS sidewalk projects will be prioritized using the existing missing sidewalk budget. The Downtown Two Way Conversion project was split into two different projects, one showing the city funded maintenance project and the other showing improvements related to the conversion project. The timing for several projects were adjusted to ensure FY24 could be funded with existing rates. FY25-FY28 as shown in the modified CIP will require rate increases to fund. Staff will present the rate increases this spring that are necessary to complete the work as shown and if it is decided to adjust rates differently than presented, an adjusted CIP will be presented for approval during the FY25-FY29 CIP process. There were no changes made to the Planning transportation projects.
Parks and Recreation
Additional information was provided on tennis facilities and spray grounds. Significant capital projects have been identified that will require general obligation debt to complete. While specific projects and timelines have yet to be identified, estimated projects and amounts have been included in the Parks CIP. The attached Parks CIP plan reflects the Parks and Recreation projects that are recommended to be funded through existing resources and a list of potential projects that could be funded through future voter approved financing. Total FY 2024 - 2028 CIP for Parks and Recreation is $225 million. This amount will change as further refinement of debt financed project occurs.
Transportation
Three annual programs were added or increased: Safe Routes to School (SRTS) non-sidewalk implementation, PAVER, and traffic-calming. The SRTS sidewalk projects will be prioritized using the existing missing sidewalk budget. The Downtown Two Way Conversion project was split into two different projects, one showing the city funded maintenance project and the other showing improvements related to the conversion project. The timing for several projects were adjusted to ensure FY24 could be funded with existing rates. FY25-FY28 as shown in the modified CIP will require rate increases to fund. Staff will present the rate increases this spring that are necessary to complete the work as shown and if it is decided to adjust rates differently than presented, an adjusted CIP will be presented for approval during the FY25-FY29 CIP process. There were no changes made to the Planning transportation projects.
ALTERNATIVES
City Council may:
- Approve; or,
- Not Approve
FISCAL EFFECTS
Total Parks and Recreation projects in the FY 2024 - 2028 CIP total $225,320,170. This amount will be funded through a combination of existing resources (Park District 1, Cemetery Funds, Donations, Parks Projects Funds) and a significant portion funded by debt financing (Tax Increment Bonds and General Obligation Bonds). Further refinement on this amount and timeline will occur as capital projects are prioritized.
Transportation projects in the FY2024 -2028 CIP total $105,280,000. This amount is planned to be funded through gas tax, street maintenance district fees, TIF funds, Urban funds, and property owner assessments. FY24 can be funded with the existing rate structure. FY25-FY28 will require rate increases that will be presented in the spring.
Transportation projects in the FY2024 -2028 CIP total $105,280,000. This amount is planned to be funded through gas tax, street maintenance district fees, TIF funds, Urban funds, and property owner assessments. FY24 can be funded with the existing rate structure. FY25-FY28 will require rate increases that will be presented in the spring.