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REVIEW AND ADOPT PROPOSED 1997 - 2002 <br />CAPITAL IMPROVEMENT PROGRAM <br /> By: Ryan R. Schroeder, City Administrator <br /> Jessie Hart, Finance Officer <br /> <br />Background: <br /> <br />Each year at this time, as part of the budget review process, Council considers an update to the list <br />of capital projects proposed for completion over the next seven years. The resulting Capital <br />Improvements Program (CIP) will direct City staff to begin project planning and, in some cases, <br />design for projects within the plan. The most recent iteration of the CIP is enclosed for your <br />consideration. <br /> <br />The 1997-2002 CIP is not significantly different from CIP's you have reviewed and approved in <br />recent years. As always, there are changes to cost projections as new information provides <br />improvements in those numbers. The park improvement portion of the CIP has previously been <br />approved and those projects are included again in this document. Finally, we have adjusted timing <br />and allocation location (funding sources) for some roadway improvements due to fund shortages <br />(or excess funds) and perceived change in priorities of the community and Council. <br /> <br />The largest item of note within this CIP is that it recognizes that TH #47, although owned and <br />maintained by the Minnesota Department of Transportation, has become a local priority. As such, <br />there are local funds within this CIP dedicated toward the improvement of that corridor. Another <br />notable change is that this CIP shows an improvement in the budget for Fire Station #2 and the <br />expansion of Fire Station #1 shows up in the year 2002. <br /> <br />The cash flows are included and show that all of the projects from established funds are supported <br />by projected revenues. Projects funded from the "other" category oftentimes will have available <br />revenues but, in some cases, rely upon gaining funds from an outside source. The cash flows for <br />the Public Improvement Revolving Fund (PIR) assume that the City will be eliminating the <br />sealcoating assessment program in favor of a utility franchise fee. <br /> <br />Council Action: <br /> <br />Motion to recommend Council adopt the Proposed 1997 - 2002 Capital Improvement Program. <br /> <br />Reviewed by: <br /> <br />City Administrator <br />Finance Officer <br /> <br />FC: 11/26/96 <br /> <br />/jmt <br /> <br /> <br />