2012-11-27_PWETC_AgendaPacket - Laserfiche WebLink

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Page 5 of 10 146 147 The Rest of the Problem — A 2012 Update 148 149 The primary areas of unfinished business from 2011 include Parks, Pathways, Streets, IT, 150 Central Services, and Admin. capital funding. All of these areas, with the exception of Streets, 151 are funded largely with property tax dollars. (Streets are fimded primarily with State MSA 152 money and interest from the approximately $13 million Street Replacement Fund.) 153 154 These areas of unfinished capital funding represent an additional approximately $93 million in 155 costs, out of the original $218 million identified in 2011. Of that, about $41 million, or about 156 44 %, is unfimded based on current funding sources in 2012. 157 158 The pieces of the remaining unfunded amount are: 159 • About $17 million of a total of $47 million in costs for the Street Pavement Management 160 Program (Street PMP). [37% unfunded] 161 • About $9.4 million of a total $28.5 million in costs for Park Facilities and PIP items 162 [33% unfunded] 163 ■ About $7 million of Skating Center Facility needs [100% unfimded] 164 • About $4.6 million of a total $5.7 million in Information Technology, Central Services, 165 and Admin Equipment costs [81% unfunded] 166 • About $1.2 million of $4.2 million in costs for the Pathway & Parking Lot Pavement 167 Management Program (PPPMP) [29% unfunded] 168 • About $355,000 of Street Lighting replacement costs [100% unfunded] 169 170 It is worth repeating here that these funding levels are based on optimized replacement schedules 171 and lists of ongoing capital replacement needs, as reflected in the 2012 -2031 Capital 172 Improvement Plan. 173 174 175 The Rest of the Solution — 2012 Subcommittee Recommendations 176 177 Part of the Solution: The Park Renewal Plan 178 179 In terms of Pathways and Park Facilities, a significant part of the solution is already being 180 implemented through the Park Renewal Plan. The next four years of the Park Facility CIP needs 181 and Park Improvement Plan needs, as well as about $2 million in new pathway construction, are 182 included in the Park Renewal Plan projects. 183 184 185 The Rest of the Solution: 8 Years of Proposed Actions 186 187 Generally, the proposals that follow will fund capital needs through either or both of 2 means: 188 Repurposing existing property tax levy funds that are now collected for other purposes, and 189 additional property tax levy funding. 190 191