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<br /> <br />REQUEST FOR COUNCIL ACTION <br />Date: 7/15/2024 <br />Item No.: 7.b. <br />Department Approval City Manager Approval <br /> <br /> <br />Item Description: Receive the Preliminary 2025-2044 Capital Improvement Plan <br />1 <br />2 Background <br />3 At the February 12, 2024, City Council meeting, the Council established a general timeline for the 2025 <br />4 budget process including the following key dates: <br />5 <br />6 <br />7 <br />8 The next step in the 2025 Budget Process is to review the 2025-2044 Capital Improvement Plan (CIP). <br />9 <br />10 The CIP represents the City’s long-term plan for replacing its infrastructure, facilities, vehicles and <br />11 equipment; all of which play a critical role in the provision of city programs and services. This Plan <br />12 contains assumptions on asset lifespans and replacement costs. It also assumes that all existing city <br />13 functions and programs will continue at current service levels and the City’s capital assets and <br />14 infrastructure needs will remain unchanged moving forward. <br />15 <br />16 The CIP also represents a projection of when asset replacements are likely to occur. However, each <br />17 individual asset is scrutinized prior to replacement to determine whether it’s still needed and if so, <br />18 whether it truly has reached the end of its useful life. It’s not uncommon to defer the replacement of <br />19 assets if they’re still in good condition. Conversely, we sometimes determine that the replacement of an <br />20 asset needs to be expedited because it’s failing sooner than expected. <br />21 <br />22 Because of these uncertainties, we tend to focus on the long-term sustainability of our asset <br />23 replacement programs rather than committing to a rigid replacement schedule. The exception are the <br />Page 1 of 6 <br />Qbhf!34!pg!99 <br /> <br />