Laserfiche WebLink
98 Capital Improveluent Policy <br />99 <br />C-N <br />100 Purp.ose <br />101 The purpose of the City's Capital Improvement Policy is to ensure that capital expenditures are <br />102 well plaimed and enable the city to replace capital items when needed, without requiring <br />103 significant fluctuations in the property tax levy. <br />104 <br />105 <br />106 All departmetAs and City -funds are included in the Five- car Capital Improvement Program <br />107 (CIP). The CIP identifies the timing and- financing of all capital items. <br />108 <br />109 polle <br />110 <br />III LJ Alt capital improvements shall. be made in accordance with an adopted Capital <br />112 Improvement Program <br />11,31 <br />114 ED The City will develop a five-year Plan for capital improvements and update it annually <br />115 <br />116 Ll The City will coordinate development of the capital improvement budget with <br />117 development of the operating budget. Future opc,,-ati-op ,,.a1 costs associated with new <br />118 capital improvements will be projected and included in operating budget forecasts <br />119 <br />120 LJ The City will provide ongoing preventative maintenance mid upkeep on all its assets at <br />121 a level adequate to protect the City's capital investment and to minimize future <br />122 maintenance and replacement costs <br />123 <br />124 J The City will identify the estimated costs and potential funding sources for each capital <br />125 pro-ect proposal before it is submitted to Council for approval <br />126 <br />127 Li The City will determine the least costly financing method for all new PrOJ eC+L3 <br />128 <br />129 LJ For future development or redevelopment proposals that require public 'infrastructure <br />130 and/or public financing assistance and/or City support services; a fiscal analysis shall be <br />131 prepared identifying,, the pro W ect sources w-id uses. The analysis should also demonstrate <br />132 the costs and benefits of the project. The cost of this anal ysi's shall be borne by the <br />133 developer. <br />134 <br />135 Implemeiitation <br />136 The Capital Improvement Program has been updated to reflect capital expenditures through the <br />137 next five years. <br />1,318 <br />M <br />