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1�] <br />��� <br />] �3 <br />1�� <br />1�� <br />1�� <br />L �?� <br />�28 <br />12� <br />13� <br />l�l <br />�E3.�, <br />a�� <br />]3� <br />1�� <br />13� <br />1�� <br />City of <br />��� <br />� � • t �� <br />� ���n�o �, x �a <br />Capital Improvement Policy <br />Purpose <br />The purpose of the City's Capital Improvement Policy is to ensure that capital expenditures are <br />well planned and enable the city to replace capital items when needed, without requiring <br />significant fluctuations in the ��rtv iax levy. <br />5�r��� <br />All departments and City funds are included in the Five-Year Capital Improvement Program <br />(CIP). The CIP identifies the timing and financing of all capital items. <br />��Li��r. <br />C] All capital improvements shall be made in accordance with an adopted Capital <br />Improvement Program <br />C� The City will develop a five-year Plan for capital improvements and update it annually <br />1 �� $-• �}ti�'�k�' - ��Qn3Gt�C133�$F�Rkf&�--�stip[�TVkE���� �r�+%± '�� kbEi ��i��14!Fl-kk-��i.f�t <br />1 J� �'}7'l�jF Y] I.�. L'„a, .,;i ��1 �,e.,r„ifli+i �rsa r`.s_+���iCa` L� [1T1' ' Irl7�IlE'_v'� ---- r- F••!., F;f,., <br />1�� c���;.�- � ... .,.; � _�..,a.. .F�,,���,.,�...�..t=�_.���7�it��t�--e+�a.� ..1..., .:,, ,.� .�...,a:�� .�,.� <br />` _av . r _ r . v �- -a <br />L�1 ,..,.I��..rv�Y �� r ,-.,I_7 L,��rl.taf� wF��j�.� <br />_J' _4_' r' J-1ti•a. <br />I�L <br />1�3 <br />I �I <br />l�� <br />��6 <br />]�? <br />1�� <br />1rT1 <br />L5� <br />�5l <br />15� <br />� �� <br />I�� <br />!�5 <br />]5� <br />1�� <br />]S� <br />1 �'� <br />16U <br />" Comment � Forecasting the City's share of capital improvement costs <br />on future development is even more speculative than forecasting the <br />development itself.• In the context of a S year CIP, this exercise has little, <br />if any, value <br />0 The City will coordinate development of the capital improvement budget with <br />development of the operating budget. Future operational costs associated with new <br />capital improvements will be projected and included in operating budget forecasts <br />4 The City will provide ongoing preventative maintenance and upkeep on all its assets at <br />a level adequate to protect the City's capital investment and to minimize future <br />maintenance and replacementcosts <br />� The City will identify the estimated costs and potential funding sources for each capital <br />project proposal before it is submittedto Council for approval <br />� The City will determine the least costly financing method for all new proj ects <br />��] I�lementation <br />Y�2. The Capital Improvement Program has been updated to reflect capital expenditures through the <br />� � � next five years. <br />