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<br />Strategic Fina/1cial Planning <br />June 19, 2009 <br />Page 3 <br /> <br />Approach <br /> <br />To accomplish these objectives, Northland proposes to perform the following tasks: <br /> <br />1. Work with CityStarf via phone and email to collect informatiorl on existing financial <br />commitments and future improvements. <br /> <br />2. Create RTC financial planning model. This model will incorporate past work by Staff on funding <br />or existing improvements and by LSA Design on funding of land acquisition. The model will <br />,proje~t the costs of funding future public improvements in the RTC Qrea. The model will <br />separately identify the sale price and timing of each development parcel in RTC. It will be <br />designed to allow the City to test the finandal implications to changes in assumptions about <br />future land sales. <br /> <br />3. Analyze special service district. .A..n outstanding issue for RTC is funding for the operation and <br />maintenance of existing infrastructure and streetscape. In this task, we will work with Staff to. <br />identify potential maintenance costs. We will analyze options for spreading these costs among <br />RTC parcels and mclude these costs in the overall analysis. <br /> <br />4. Conduct staff workshop. Northland will conduct a workshop with City Staff to review interim <br />results. We will use this workshop to verify assumptions, explain initial findings, o'btain Staff <br />guidance 011 modifications, and set a calendar for Council work..lihops. <br /> <br />5. Prepare baakground memorandum. Northland will prepare a memorandum that provides <br />background information for the City Council. n'le memo will explain the assumption.5, approach <br />and fu,dings ()f our initial pla1ining. <br /> <br />6. Conduct Council workshops. Northland will desigt'l and conduct up to three (3) workshops with <br />the City Council. These workshops ,.vill be used to build a common understanding of the issues <br />and to reach a.greement on policies guiding future improvements and the sale of RTC land. <br /> <br />7. Create final products. Deliverables from this project include final RTC financial planning model <br />for ongoing use 1;1)' Staff and written report summarizing results of our work, policy decisions of <br />City Council and additional action steps (if any). <br /> <br />We expectto begin work in July and complete all tasks by the end of 2009. Timing of completion is <br />tied to the ability to schedule Council workshops and reach needed to reach agreement on policy <br />guidelines. <br /> <br />Budget. <br /> <br />Northland will perform the tasks described above for a cost not to exceed $10,400. <br /> <br />Capital Improvements <br /> <br />Our initial discussions with Staff have ldel'ltified a senes of impol'tant capital improvements projects <br />facing the City over the .next five years. These projects include: <br /> <br />. Comm.uter Rail StraHon. <br /> <br />. Parking Ramp Expansion. <br /> <br />P5 <br />