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Imp 1 ip� x. x. x. Capital Improvement Policy r)Wose The purpose of the City's Capital Improvement Policy is to ensure that capital expenditures are well �!lanned and enable the city to replace capital items when needed, without requiring significant fluctuations in the property tax levy,, Scope All deparftnents and City funds are included 'in the 10-Year Capital Improvement Program (CIP). The dP identifies the timing and financing of all capital items. Poll 9 All capital improvements shall be made in accordance with an adopted Capital Improvement Program �!�Iiipq III �I � I q 111 111 5 � WWI RM191"L91111k111H 3 1111111 1 LJ The City will coordinate development of the capital improvement budget with development of the operating budget. Future operational costs associated with new capital improvements Will be projected and included in operafmg budget forecasts A The City will provide ongoing preventative maintenance and upkeep on all its assets at a level adequate to protect the City's capital investment and to mu"limize future maintenance an? replacement costs A The City will Identify the estimated costs and potential fimdm'g sources for each capital project proposal before it is submitted to Council for approval !EW123�lro L;iu.4 v sit roMMMMI Me OTOreirrem. 1 U For future development or redevelopment proposals that require public infrastructure an;ffor public finanem"g assistance and/or City support services; a fiscal analysis shall be prepared identifying the project sources and uses. The analysis should also demonstrate the costs and benefits of the project. The cost of this analysis shall be bome by the developer. ementation The Capital Improvement Program has been updated to reflect capital expenditures through ffie next five years.