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AGENDA ITEM - 3C <br />-ADEN HILLS <br />MEMORANDUM <br />DATE: July 28, 2025 <br />TO: Honorable Mayor and City Councilmembers <br />Jessica Jagoe, City Administrator <br />FROM: Joua Yang, Finance Director <br />SUBJECT: 2026 — 2030 Capital Improvement Plan (CIP) <br />Budgeted Amount: Actual Amount: Funding Source: <br />N/A N/A Various <br />Council Should Consider <br />Provide feedback to staff on Preliminary 2026 — 2030 CIP Plan. <br />Background <br />Annually, the City prepares a five (5) year Capital Improvement Plan for budgeting and forecasting. <br />The focus of the CIP is on the maintenance and protection of the City's existing assets, <br />redevelopment, and investment in new initiatives. The CIP is part of the budget process, but it is <br />not a budget; it is a plan, and one that changes often. The CIP does not commit the council to the <br />proposed projects, nor implement the assumptions made during the preparation; however, this is <br />the basis for the 2026 Budget as we continue with its preparation. <br />The City has a finite amount of resources, so prioritizing and then being able to finance projects is <br />crucial for ensuring the city's long-term sustainability and being responsible stewards of the city's <br />investments. Staff has been working on completing a comprehensive study of the City's current <br />and future needs for infrastructure projects to better estimate project costs and ensure more accurate <br />forecasting of available fund balances. <br />Discussion <br />Changes from July 14, 2025 Meeting <br />• The PIR Fund includes park development and residential dedication fees totaling $1,423,000 <br />from Trident Development, Planning Case 24-018. This is a one-time revenue source that will <br />be utilized towards new park development and trail projects. <br />Also included is a proposed tax levy of $600,000 for 2026 and forward. This increase of <br />$350,000 annually will ensure there is appropriate funding to meet future project expenditures <br />through the end of 2029. <br />Based on recent discussions with Ramsey County, the Lake Johanna Boulevard Trail project <br />commencement date has been shifted from 2028 to 2029. <br />Page 1 of 5 <br />