5.2. SR 08-13-2007 - Laserfiche WebLink

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5, ~ . MEMORANDUM TO: Mayor and City Council FROM: Lori Johnson, City Administrator DATE: August 13, 2007 SUBJECT: Street Capital Improvement Plan At Monday's meeting, we will begin discussions for approving the 2008 - 2012 five year capital improvement plan (CIP) with review of the streets projects. The parks CIP will be reviewed in September with others to follow in preparation of approval of the entire CIP before the end of the year. The biggest challenge with capital improvements is that there are always more needs and wants than there is money available. Staffs goal is to help the Council prioritize and fit projects into the funds that are available and then complete the projects approved by the Council. Of course, there are projects that will need to be delayed or maybe even not be done because others take priority. The CIP is approved with the understanding that the first year of the plan, in this case 2008, is generally set, but the rest of the plan is fluid; every year after that will be re-evaluated annually to take into consideration emergency projects, projects that may not have been considered earlier, and changes in priorities and funding. As we review funds available for future street projects, we need to keep in mind the two big projects currendy underway. In 2007, the third street rehabilitation project was approved. It was a large project, essentially taking on two rehabilitation projects in one year. This was done because of the condition of those streets and the desire to fix both of those areas now before additional deterioration occurred and rehabilitation became even more cosdy. However, that means we will likely not be able to do another large rehabilitation project until 2011 because of the impact of the city's share on the tax levy. In addition, the 193rd extension is proceeding and that project will use all the city's MSA funds for the next five years. That essentially means that there are very limited funds available for projects of any size until additional MSA money becomes available in 2012 or 2013 (depending on the actual costs of 193rd and the repayment schedule for funds borrowed). Even though MSA funds are not currendy available, there are reserve funds set aside for street projects. The City currendy has three street reserves that we are requesting be combined into one for easier administration. Additional information on that is provided in the attached memo from Finance Director Tim Simon. In 2005 I worked with Ehlers and