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The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community <br />engagement that encourages and inspires prosperity <br /> <br /> <br />Request for Action <br /> <br />To <br />City Council <br />Item Number <br />4.5 <br /> <br />Meeting Date <br />December 2, 2024 <br />Prepared By <br />Lori Stich, Finance Manager <br /> <br />Item Description <br />2025-2029 Capital Improvement Plan <br />Reviewed by <br />Lori Stich <br />Joe Stremcha <br />Cal Portner <br />Tina Allard <br /> <br />Action Requested <br />Adopt, by motion, the 2025-2029 Capital Improvement Plan (CIP). <br /> <br />Background/Discussion <br />City staff and the Council reviewed the proposed 2025-2029 CIP, leading to its adoption. During a Regular <br />Meeting Work Session, we reviewed the specific projects, costs, funding sources, and 5-year cash flow <br />projections. The CIP is a strategic planning document that is re-evaluated on an annual basis and upon each <br />annual update some projects will be deleted, added, or even delayed, reflecting community needs and the <br />financial ability to fund the project. <br /> <br />Approval of the CIP does not authorize spending or initiation of a given project, the City Council accepts and <br />acknowledges the document with the provision that capital improvement planning is subject to the dynamics <br />of the community and other unanticipated needs. Projects presented in the CIP will come back to the Council <br />for approval per the financial management policy. <br /> <br />The Parks and Recreation Commission held a Special Meeting on Wednesday, November 20, 2024, to discuss <br />CIP recommendations. The Commission made several updates to the Park Improvement Fund and Park <br />Dedication Fund for CIP projects. The 2026-2029 CIP expenditures will be reviewed closely through the <br />Parks and Recreation Master Plan development process in 2025 and prioritize projects according to the funds <br />available. The previous Parks and Recreation Master Plan was completed in 2015 and nearly all projects <br />identified within the plan are or soon will be completed. <br /> <br />A few highlights of the CIP for 2025 include: <br />▪ Parks and Recreation Master Plan. <br />▪ Kliever Lake Fields Park Improvements. <br />▪ PT Complex Backstops on all fields. <br />▪ Expansion of Camp Cozy with adjacent parcel acquisition. <br />▪ Equipment replacement including a fire vehicle, police squads, parks, and streets division equipment. <br /> <br />Page 50 of 211