Laserfiche WebLink
2009 — 2018 Capital Improvement Plan <br />Financial Im�acts <br />The 2009-2018 License Center's CIP totals $600,000. A year-by-year summary is depicted <br />below. <br />,� 800 <br />� 600 <br />H <br />p 400 <br />H 200 <br />License Center <br />2009-2018 Capital Expenditures <br />'09 '10 'll '12 '13 '14 '15 '16 '17 '18 <br />Year <br />The construction of a new facility is estimated to be $600,000, and is scheduled for 2010. <br />The planned replacements of existing capital will not have a significant impact on future <br />operating costs. Financing for the new facility (less existing cash reserves) is expected to require <br />an annual debt service payment of $45,000 over a 10-year period beginning in 2011. However, <br />current lease payments are expected to be $63,000 during that same year. With a new facility, <br />the City would forgo these payments and realize an annual savings of approximately $18,000. <br />Funding for the License Center CIP will come from agent fees derived from the issuance of State <br />licenses and passports. <br />11 <br />