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2008_0908_packet
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2008_0908_packet
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2009 — 2018 Capital Improvement Plan <br />Citywide <br />2009 2018 CIP Funding Sources <br />The CIP identifies a number of major capital items that are expected to be needed over the next <br />10 years to sustain current service levels. They include (in no particular order). <br />❖ $,27 million in park system improvements. <br />❖ $,27 million in streets and pathways. <br />❖ $,18 million in water and sewer infrastructure <br />❖ $14 million in public safety vehicles and equipment and fire stations. <br />❖ $,7 million in stormwater infrastructure <br />❖ $4 million in general facilities improvements including a new fire station. <br />❖ $,2 million in information systems <br />Financial Impact <br />The CIP will have a substantial impact on utility customers and taxpayers. Assuming all of the <br />utility systems items contained in the CIP are funded, the City's water, sanitary sewer, and storm <br />sewer rates will increase approximately 1-2% each year for the next 10 years. This is in addition <br />to any inflationary-type increases that will be needed for general operations. <br />The impact on taxpayers is even greater. If all of the property tax-supported items contained in <br />the CIP are funded including; vehicles, equipment, building improvements, and park <br />improvements,, taxpayers can expect to pay 34% more each year for the next 10 years. Again, <br />this is in addition to any inflationary-type increases that will be needed. This assumes that all <br />property tax-supported capital items will be funded through systematic increases in cash <br />reserves,, and that no other alternative funding sources are identified. The City may choose <br />instead to issue voter-approved bonds to finance some items such as a new fire station or park <br />improvements. In addition, it also assumes that all existing assets will be replaced with <br />something similar at the end of their useful lives. It is likely that some assets will be retired with <br />no intent of replacing it. <br />K <br />
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