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<br />Policy <br /> <br />[J All capital improvements shall be made III accordance with an adopted Capital <br />Improvement Program <br /> <br />[J The City will develop a five-year Plan for capital improvements and update it annually <br /> <br />[J The City will coordinate development of the capital improvement budget with <br />development of the operating budget. Future operational costs associated with new <br />capital improvements will be projected and included in operating budget forecasts <br /> <br />[J The City will provide ongoing preventative maintenance and upkeep on all its assets at <br />a level adequate to protect the City's capital investment and to minimize future <br />maintenance and replacement costs <br /> <br />[J The City will identify the estimated costs and potential funding sources for each capital <br />project proposal before it is submitted to Council for approval <br /> <br />[J The City will determine the least costly financing method for all new projects <br /> <br />[J For future development or redevelopment proposals that require public infrastructure <br />and/or public financing assistance and/or City support services; a fiscal analysis shall be <br />prepared identifying the project sources and uses. The analysis should also demonstrate <br />the costs and benefits of the project. The cost of this analysis shall be borne by the <br />developer. <br /> <br />Implementation <br />The Capital Improvement Program has been updated to reflect capital expenditures through the <br />next five years. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Member Pust <br />and upon a vote being taken thereon, the following voted in favor thereof: Roe, Kough, Ihlan, <br />Pust and Klausing <br /> <br />and the following voted against the same:none. <br /> <br />WHEREUPON, said resolution was declared duly passed and adopted. <br />