Agenda - Council - 04/26/2016 - Laserfiche WebLink

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CC Regular Session Meeting Date: 04/26/2016 By: Diana Lund, Finance Information Title Schedule Public Hearing to Consider Adoption of 2016-2020 Capital Improvement Plan (CIP) Purpose/Background: 4.2. 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 2016-2020 CIP contains the following categories: Capital Bonding Projects, Equipment Replacement, Municipal Buildings, Park Improvements, Sewer Utility, 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. Cash flows are presented for the respective funds presented in the CIP. They can be found in the last several pages of the CIP document. A supplemental section titled 'Future Consideration Projects' has also been included. This is a listing of park projects that are prioritized by need and contingent upon availability of resources. These projects are unfunded and unscheduled until resources become available. 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 May 10, 2016. Notification: A draft document of the 2016-2020 CIP and supplemental report is attached. Any reported changes will be reflected in the document presented at the May 10, 2016 public hearing. Funding Source: The 2016-2020 Capital Improvement Program depicts the various funding sources used to fund capital improvements. Action: Motion to authorize a public hearing on May 10, 2016 for the adoption of the 2016-2020 Capital Improvement Program.