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EOty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 10.2 <br /> Agenda Section Meeting Date Prepared by <br /> Work Session November 5, 2018 Lori Ziemer, Finance Director <br /> Item Description Reviewed by <br /> 2019-2023 Capital Improvement Plan Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Review the 2019-2023 Capital Improvement Plan <br /> Background/Discussion <br /> Pavement Management Fund <br /> Created in 2013 to provide long-term funding for the Pavement Management Program, a gas and electric <br /> franchise fee is the primary revenue source along with the Municipal State Aid (MSA) related to projects. <br /> The city engineer will also review the MSA and its relation to the fund. MSA will fund a portion of the <br /> 2019, 2021, and 2023 projects. The maintenance (sealcoat/overlays) portion of MSA goes into the fund <br /> to offset the cost of the sealcoating and smaller overlay preventative maintenance projects. <br /> Street/Capital Improvement Fund <br /> Covers city road and infrastructure improvements not included in the Pavement Management Fund. The <br /> final 2007 street project debt service was paid in 2018. The Line Ave. improvements originally planned <br /> are being replaced by the Hwy 169 frontage/backage road improvements. Beautification/intersection <br /> enhancements are also included. Special assessment repayments were the main funding source,which will <br /> end in 2023 since we no longer assess for street improvement projects. <br /> Trunk Utilities Fund <br /> This fund consists of special assessment revenue from water and sewer improvement projects. The funds <br /> must be used on trunk water and sewer improvement projects in the area for which the assessments were <br /> collected, unless there is no further need in the existing area, and then they can be used in another area. <br /> These funds would be used in lieu of having to issue bonds on future system expansion/improvements. <br /> Park Dedication Fund <br /> Recent plat development activity has increased fund revenues to a cash balance of$301,216 as of <br /> 10/31/18. The TH10 trail extension from Gary St. to Morton Ave.is planned along with a federal grant. <br /> Park Improvement Fund <br /> Funds park and trail improvements with an annual transfer from the Municipal Liquor Fund based on a <br /> percentage (45%) of profits after approved transfers. <br /> The Elk River Vision <br /> A PehoMing community 2a itb revolutionary and spirited resourcefulness, exceptional POWERED By <br /> service, and community engagement that encourages and inspires prosperity INAMIRE1 <br />