TO: Honorable Mayor and Council
FROM: Valerie Fenske, Administrative Services Director
SUBJECT:Title
Adopt Resolution No. 14-2828 Adopting the Ten-Year Community Investment Program (CIP) for Fiscal Years 2015-2024
Body
FUNDING SOURCE:
Various Departments
PURPOSE:
The Ten Year CIP Program is used as a planning guide for scheduling and development of capital facilities for the ensuing ten year period.
BACKGROUND:
City Code Section 2.70.040 requires that City Council adopt by resolution the community investment program, with or without amendment, prior to the adoption of the City's annual budget. The City's annual budget is scheduled for final adoption on June 24, 2014. This section of the City Code also requires a notification be published at least one time in the local newspaper which states the times and places where copies of the community investment program can be viewed and the time and place, not less than two weeks after publication, for a public hearing on such program. This notice was published in Today's News-Herald on May 25, 2014.
Since the April 15, 2014 CIP Work Session, a total increase to the first year of the ten year plan in the amount of $860,371 was identified. This increase is a net result of elimination of unfunded projects, revisions to existing projects, and projects that are necessary to carry forward. These changes totaled $780,621. After the May 20, 2014 Budget Work Session an additional change was made to project ST3230 - Wayfinding Program. It was identified that Lake Havasu City will be responsible for payment of this project, requiring the full project expenditure to be appropriated. There is offsetting revenue added to account for the contributions from outside organizations as identified in the Wayfinding Program presentation. This change resulted in an increase in CIP expenditures of $79,750. A summary of all changes after the April 15, 2014 CIP Work Session is attached as Exhibit A.
COMMUNITY IMPACT:
Development of a ten year CIP plan allows for adequate planning of resources to meet future infrastructure and maintenance needs.
FISCAL IMPACT:
The Ten Year Community Investment Program total is $94,056,375.
ATTACHMENTS:
Resolution No. 14-2828 adopting the Ten Year CIP
Exhibit A: Summary of Changes since the April 15, 2014 CIP Work Session
Exhibit B: Fiscal Year 2015-2024 Overall Program Summary
Exhibit C: Fiscal Year 2015-2024 CIP Funding Source Summary
Exhibit D: Fiscal Year 2015-2024 CIP Projects and Funding Sources by Program (Detail for first five years of ten year plan)
SUGGESTED MOTION:Recommended Action
I move to adopt Resolution No. 14-2828 adopting the Fiscal Year 2015-2024 Community Investment Program.