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Hamline Avenue Crosswalks ...................................................................................................................................................................................................................................................................................._.................................................. Capital Improvement$120,000 Old Snelling Ave/County Rd..E..PMP Capital Improvement $2,850,000. L......................................................................................................................................................................................................................................................................... Karth Lake Retaining Wall, Pump, Panel ...................................................................................................................................................................................................................................................................................._.................................................. Surface Water Mgmt$142,000 Storm Pond Maintenance Surface Water Mgmt $100,000 ....... ....... ................................................................................................................... Replace 2010 Bobcat Toolcat ...................................................................................................................................................................................................................................................................................._.................................................. .............. Equip/Bldg Replacement$40,000 . .. Replace 2012 F-350 Truck ........ ......... .......................................................... Equip/Bldg Replacement ..... $48,000 Replace 2010 F-350 Truck ..................................................................................................................................................................................................... Equip/Bldg Replacement ........................................ $46,000 Capital Improvement Fund (PIR) City staff has identified an ongoing funding concern regarding future Pavement Management Projects (PMP's) and the Permanent Improvement Revolving (PIR) Fund. The PIR Fund expenses are anticipated to outpace revenues for the foreseeable future. The fund balance was just over $6 million at the end of 2017 and is projected to drop to $1,254,566 by the end of 2024. The driving factor for the expected deficit is the PIR Fund has limited revenue sources ($250,000 from the property tax levy, MSA funding, special assessments, etc.), which do not cover the cost of a typical PMP (this is not accounting for other projects that also come out of the PIR Fund, such as park and trail improvements). To better understand the long-term budget and operational impacts of the PMP's, staff would request Council consider a comprehensive study of the City's current and future needs for infrastructure projects. This study would be the first step in outlining a twenty-year maintenance plan for the City's infrastructure needs, and the next step would be identifying a funding mechanism to ensure the City is able to pay for future projects. PIR Fund Balance V) $8 o $7 — $6 $5 $4 $3 — $2 $1 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Park hard court and playground projects total $1,285,000 over the next five years. This averages out to $257,000 per year and, in the absence of any Park Dedication Fees, property tax levy funds will be needed to cover these costs. The City also needs to find funding for any improvements the council approves to be made at Hazelnut Park. This park is in need of a new warming house and parking lot. For street improvement projects, the net City cost has been coming in between $300,000 and $750,000 depending on size and type of work completed. If the policy is to complete one of these every other year, that would mean that between $150,000 and $375,000 of property tax levy dollars are needed on an annual basis. Based on the above two items, the PIR Fund requires a cash inflow of between $407,000 and $632,000 annually. The City currently contributes $250,000.