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CAPITAL IMPROVEMENT PROGRAM (CIP) YEAR <br /> <br />PROJECT DESCRIPTION <br /> <br />Complete City Hall Expansion Project <br /> <br />Start Pavement Replacement Program (Phase II) <br /> <br />County Road 1/Proctor Avenue at Highway 10 <br />Intersection Improvement <br /> <br />Southeast Water Tower and Well <br />Community Center <br /> <br />Westbound Liquor Store <br /> <br />Ice Arena Bleachers <br /> <br />Neighborhood Park and Trail Improvements <br /> <br />Equipment/Vehicles/Trucks <br /> <br />Developer Initiated Projects <br /> <br /> - 2003 SUMMARY <br /> <br />COST AND FINANCING <br /> <br />SEE 2002 CIP NARRATIVE <br /> <br />$800,000 - $400,000 assessed to benefited property <br />owners; $200,000 capital outlay tax levy; $200,000 <br />street reserves <br /> <br />$150,000 - $40,000 county; $40,000 developer; $70,000 <br />city street reserve <br /> <br />$1.5 million - municipal utilities funded <br /> <br />$4 million - public referendum bond (THIS PROJECT <br />WILL ONLY PROCEED IF THE REFERENDUM IS <br />SUCCESSFUL IN NOVEMBER 2002) <br /> <br />$1.5 million - liquor store revenue bonds <br /> <br />$80,000 - NSP reserve <br /> <br />$60,000 - park dedication funds <br /> <br />$550,000 - $150,000 general fund budget (taxes); <br />$250,000 equipment certificates (taxes); $150,000 <br />equipment reserve <br /> <br />100 percent financed by developer <br /> <br />Capital Improvement Program (CIP) Year - 2003 <br /> <br />Page 1 of 1 <br /> <br /> <br />