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preliminary view of the Capital Improvement Plan for discussion purposes. Please don't <br /> lock into any of the estimated dollar amounts or years as a staff determination of final <br /> value or timing! <br /> Two things are new in this CIP plan. First is the inclusion of park equipment for <br /> $261,500. Second is a complete city hall refresh, improvement, and update for $345,000. <br /> The city hall costs are $120,000 higher than the 2014 CIP and have been moved up to <br /> 2019 for discussion purposes. <br /> Staff presents three alternatives in this document: <br /> Plan A shows the effect on the Capital Fund balance with the transfer from the General <br /> Fund of$61,125 for 2019 that is included in the budget. That amount is then increased <br /> by 2.5% through 2028. That plan leaves us with a deficit of nearly $400,000 at the end of <br /> 2028. <br /> Plan B shows the addition of a $100,000 transfer from the General Fund in 2019. As you <br /> could predict that leads to a deficit of just under $300,000 in 2028. <br /> Plan C shows both a $100,000 transfer in 2019 and then increasing the levy up to $70,000 <br /> for 2020 and raising it up by $10,000 each year until 2028. After that, the assumption is <br /> that the $150,000 annually is sufficient to cover all replacement costs. This plan leads to <br /> a modest surplus of$70,000 at the end of 2028. It still shows annual deficits of up to <br /> $127,000 in the middle years. <br /> Staff is asking City Council members to consider the implications of these scenarios. <br /> Please give us feedback on the amount of replacements, the timing of the City Hall <br /> improvements, and the funding scenarios. <br /> Staff will use the feedback to continue refining the plan and funding process. Please <br /> remember that we haven't included any analysis of condition, safety, or other indicators <br /> of the equipment at this time. As we progress in putting together a comprehensive list of <br /> assets and their replacement, we will include these more subjective measures rather than <br /> just the estimated useful life from our financial system. <br /> Attachments: Capital Asset Replacement Spreadsheet <br /> 124 <br />