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The CIP Act requires the City Council to consider eight factors in preparing <br />the CIP: <br />1. Condition of the City's existing infrastructure, including projected need <br />for repair or replacement. <br />2. Likely demand for the improvement. <br />3. Estimated cost of the improvement. <br />4. Available public resources. <br />5. Level of overlapping debt in the City. <br />6. Relative benefits and costs of alternative uses of funds. <br />7. Operating costs of the proposed improvements. <br />8. Alternatives for providing services most efficiently through shared <br />facilities with other cities or local governments. <br />The City has considered the eight points as they relate to the construction of <br />a Fire Station #2 through the issuance of CIP Bonds. The findings are as <br />follows: <br />PROJECTS <br />Conditions of City Infrastructure and Need for the Projects <br />The building has been scheduled for replacement due to the current <br />condition not meeting the needs of a fire station. Also, the current building <br />and property are being actively marketed for demolition/rebuild for a willing <br />buyer. <br />Demand for Projects <br />Current facility has many issues including inadequate space, HVAC system <br />needs, domestic water problems, etc. A 2.4 acre site adjacent to this <br />property has been chosen as a replacement site. <br />Estimated Cost of the Projects <br />See Project Summary for details of all project costs. <br />Availability of Public Resources <br />The new facility will be funded from a combination of general property tax <br />levy and available resources on hand. <br />Ehlers & Associates, Inc. Page 8 <br />