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�� � <br />222 <br />223 <br />224� <br />225 <br />226 <br />City of <br />���� ��� <br />Minnesota USA <br />, <br />Capi�al improvement Policy <br />Pumose <br />The ��ose of the City's Capital Tmprov��enf �alicy is tn ensure that capital e�penditures are <br />well planned and enab�e the ci�y fio replace capital iiems w�en �eeded, withoui requirin� <br />significan� fluc�uatian� in the property ta� levy. <br />227 Scope <br />22$ AIl deparfinezzts a�d City fi�nds are ineluded in the Five-Year Capital Iznprovement Prograrn <br />229 {CIP}. The CI�' �dentifies �he timing and �'inar�cing af alI capital i�ems. <br />230 <br />231 <br />232 <br />233 <br />234 <br />23 S <br />236 <br />237 <br />238 <br />239 <br />240 <br />241 <br />2�2 <br />243 <br />244 <br />24S <br />24b <br />247 <br />�'olicv <br />❑��l capital irnprovements shali be made in accardance with an adapted Capital <br />Improverr�ent �'ragram <br />o The City will develop a£'ive-year Plan for capital iamprove�ents and update it arua.ually <br />� <br />. <br />:. <br />* Conzment * Forecasting t�re City's sha�e of capital impr�ovement costs <br />on future development is even more speculative than fa�ecasting the <br />development itself. In the cantext of a S year CIP, this exe�cise has little, <br />if any, value <br />248 o The Ciry wi11 coordinate deve�opr�ent of the capital im.pravement h�dget with <br />249 developrr�ent of ihe operating budget. �'uture operational costs assaciat�d with new <br />250 capiial i�nprovements will be projected and included in opera�ing budget �orecasts <br />2S1 <br />252 ❑ The City will provide oz�gaing pr�ventative mazntenance and upkee� on a�l its assets at <br />2S3 a level adequate to �rotect �he City's capital znvestzr�ent and �o rninimize fixture <br />2S4 maintenance and replacement eosts <br />2SS <br />25b <br />257 <br />258 <br />2S9 <br />26Q <br />261 <br />262 <br />263 <br />264 <br />26S <br />0 The City wi�l identify the estirnated costs and poiential funding sources for each ca�ital <br />project proposal be£ore it is sub�nitted to Cauncil for apprcaval <br />❑ The City wi�� determine the least castly �'inancing method for all z�ew proj ects <br />0 For fut�e devela ment or redevela z�e�t xo osals tha� re uire ublic infrastr�cture <br />and/or ublic fina�ciz� assistance and/or Cit s� ort services• a�scal az�a� sis shall be <br />�re ared ide�tif in tkae ro'ect sources and uses. T�ie anal sis should alsa dernons�rate <br />the cos�s and bene�ts af the ro'ect. The cast of this anal sis shall be �orne b the <br />developer. <br />,� <br />