Agenda - Council - 01/14/2014 - Laserfiche WebLink

Home

CC Regular Session Meeting Date: 01/14/2014 By: Diana Lund, Finance Information Title Schedule Public Hearing to Consider Adoption of the 2014-2018 Capital Improvement Program (CIP) Purpose/Background: The Capital Improvement Program (CIP) is a strategic planning tool to assist the City Council in identifying proposed capital improvement projects over the next five years. The 2014-2018 CIP contains the following categories: Capital Bonding Projects, Equipment Replacement, Municipal Buildings, Park Improvements, Sewer Utility, Site Acquisitions, Storm Water Utility, Street Improvements, Street Light Utility, and Water Utility Improvements. The projects, as presented in the CIP document, are presented at total costs. The city is not responsible for the funding of all projects listed in this program. For example: If a grant is received the respective project is shown at total project costs with the amount of grant listed as an offsetting revenue source. It should be noted that some of the projects included in the CIP have their revenue source listed as unfunded or cause future cash flows to become negative in respective funds. This is particularly true related to the funding for park improvements, street improvements and equipment replacement purchases. Their respective funding sources are depleted within the next couple of years. These projects are listed as they are deemed as possible future projects and contingent upon funding being determined a later date. As mentioned above, this is a planning document only, and not an approval of any project listed. Per section 7.5 of the Ramsey City Charter, the city shall hold an annual public hearing on the five-year Capital Improvement Program and adopt it by resolution. Staff is asking that a public hearing be held at the regular meeting of January 28, 2014. Notification: The Public Works Committee, Park and Recreation Commission and the Finance Committee have all been presented with the Proposed 2014-2018 CIP. Funding Source: The 2013-2017 Capital Improvement Program depicts the various funding sources used to fund capital improvements. Action: Motion to authorize a public hearing on January 28, 2014 for the adoption of the 2014-2018 Capital Improvement Program. Proposed 2014-2018 CIP Attachments Form Review Inbox Reviewed By Date