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]ty of <br /> <br />'ver <br /> <br />MEMORANDUM <br /> <br />ITEM 10. <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Mayor and City Council <br /> <br />Pat Klaers, City Ad~trator <br />April 15, 1996 <br /> <br />Capital Improvement Worksession <br /> <br />A Capital Improvement Program worksession is scheduled for Monday, April <br />15, 1996, following the regular City Council meeting. At the end of this <br />regular City Council meeting, the Council should recess into the Training <br />Room to review the Capital Improvement Program (CIP) funds that are <br />available for projects. The projects that are desired, necessary, or <br />appropriate were reviewed in the January and February CIP meetings (these <br />minutes are attached for your review). Following this 4/15/96 CIP meeting, a <br />draft CIP Plan will be put together which outlines potential projects and <br />funding sources for the next few years. This draft plan will need to be <br />reviewed by the City Council so that it can be used when the city goes out for <br />bonds in May for the Wastewater Treatment Plant project plus anything else <br />that the City Council may approve in the next few weeks (i.e., ice arena <br />project, surface water management projects). <br /> <br />The City Council has lots of flexibility in spending city funds for necessary <br />projects. Funds that are currently designated for an activity can generally be <br />redesignated by the Council for another activity or project. While the Council <br />has a lot of flexibility, it should be noted that there are a limited amount of <br />funds that are available. In this regard, the priorities of the Council must be <br />clearly understood so that the most important projects get financed while the <br />less important projects are put on hold until adequate funding is available. <br /> <br />As noted in the attached material from the Assistant City Administrator Lori <br />Johnson, one of the biggest concerns of the city is the funding of needed <br />Surface Water Management (SWM) projects. I believe that it will be <br />necessary to go out for a SWM bond in 1996 to finance some previously <br />authorized 1995 projects and some anticipated 1996 projects. This bond <br />issue, combined with the 1994 bond issue and some other internal loans that <br />were made to the SWM fund, will leave the city with very few annual funds <br />being available for new projects in the next few years. This will create a <br />dilemma in terms of not doing projects versus increasing revenues to finance <br />necessary projects. <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />