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Regular City Council Meeting Monday, May 20, 2013 Page 10 opment of policy matters; overall with the intent to serve the public as better fidu- ciary agents of those funds in the short- and long-term. The presentation included how the annual budget was a balancing act for operat- ing, CIP and reserve funds; with tonight's focus on the CIP portion. Coun- cilmember McGehee defined terms, provided a history of the CIP and sustainabil- ity efforts, with the first committee recommendations to alleviate the gap created over a number of budget cycles, first adopted by the City Council for the 2012/2013 budget. Councilmember McGehee reviewed the $69 million in needed funds to correct and sustain the Pavement Management Program (PMP), the Park Improvement Program (PIP); new pathways; Information Technology needs; and the Cedar- holm Golf Course. Councilmember McGehee reviewed improvements to the City's CIP over the last two (2) years through difficult decision-making and pub- lic support for increased fees and taxes. Councilmember McGehee reviewed past funding, improvements made in current funding, and gaps remaining, with rec- ommendations for additional funding in 2014 and repurposing bond funds in the future to avoid reverting to past practices and recreating the CIP problems being addressed today. Councilmember McGehee reviewed sustainability specifics and recommenda- tions, along with various choices available, for remaining CIP funds that were not yet sustainable, including pathway maintenance, PIP, PMP and the Cedarholm Golf Course. As she reviewed the choices to address these issues, Councilmem- ber McGehee estimated that an additional $3 million annually would be required; and significantly impact households through increased property taxes and utility rates. Finance Director Miller noted that the figures presented for 2014 factored in infla- tionary rates; reminding Councilmembers and the public that receipt of potential increased water rates from the Saint Paul Water Utility remained pending and an unknown factor. At the request of Councilmember Willmus, Mr. Miller estimated the average me- dian value home in Roseville to be $189,000 for a typical single-family home. In reviewing the choices, Councilmember McGehee noted that they included: cut- ting expenses, raising fees, reducing levels of service, reducing assets, eliminating programs, raising taxes, seeking grants, or reallocating existing funds. Coun- cilmember McGehee sought public engagement in making these choices. Councilmember McGehee reviewed several assumptions in more detail, including continuing services and amenities at current levels and subsequent increase to the