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Department Approval <br />��. .�: �� <br />Item Description: <br />l�'�, <br />Jy <br />REQUEST FOR COUNCIL ACTION <br />Date: 8/10/09 <br />Item No.: 13.a <br />Acting City Manager Approval <br />Adopt the 2010-2019 Capital Investment Plan <br />� .�: �� <br />BACKGROUND <br />Enclosed is the 2010-2019 Capital Investment Plan (CIP) as prepared in accordance with the goals and <br />strategies identified in the Imagine Roseville 2025 initiative and in consideration of the goals and objectives <br />identified by the City Council in previous years. The CIP also incorporates the valued contributions made <br />by the City's advisory commissions, and other citizen groups. <br />Over the next 10 years the City expects to expend approximately $97 million to replace existing vehicles, <br />equipment, and infrastructure and has earmarked approximately $5 million to allow for the purchase of new <br />assets that would enhance the City's programs and services. This assumes that the City will have available <br />funding and that all existing assets will be replaced at the end of their useful lives. It is conceivable that <br />some of these items will not be replaced. Sy contrast, over the 10 previous years, the City expended only <br />$30 million to replace its capital assets; a reflection of both the general need and available funding during <br />this time. <br />Subject to availability funding, the City expects to expend, on average, approximately $10.2 million per <br />year on capital assets over the next 10 years. The largest asset category is system improvements, which <br />represents 66% of the total amount. The largest asset by City function is parks and recreation, which <br />represents 27% of the total amount, followed closely by streets and pathways. <br />POLICY OBJECTIVE <br />The preparation of the CIP is consistent with the goals and strategies identified in the Imagine Roseville <br />2025 initiative, and with industry-recommended governmental practices. The CIP is intended to serve as a <br />planning tool rather than a specific funding request. <br />FINANCIAL IMPACTS <br />Current funding sources will allow the City to address approximately 30% of the needs identified in the <br />CIP, which leaves a sizeable funding gap. However, it is recommended that unfunded items remain in the <br />CIP to ensure future consideration. <br />STAFF RECOMMENDATION <br />Staff recommends the Council formally adopt the 2010-2019 CIP. <br />Page 1 of 2 <br />