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REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br /> <br />January 23, 2017 <br /> <br />SUBJECT <br />Recommended Process for Developing Five Year Capital Improvement Program <br /> <br />RECOMMENDATION <br />Receive information on the recommended process for developing a Five Year Capital <br />Improvement Program (CIP) development process and provide direction to staff <br /> <br />BACKGROUND <br />In recent years, City Council has reviewed a proposed CIP budget for the upcoming <br />fiscal year in the spring, and approved a recommended CIP budget during the City <br />Council budget sessions in June. This year, staff recommends development of a Five <br />Year CIP and seeks City Council approval of the process for creating this document. <br /> <br />ANALYSIS <br />Development of a Five Year CIP would provide a longer-term perspective on needed <br />capital investments. This would allow staff to identify and plan for projects over multiple <br />years, which helps with workload management as well as financial management. In <br />addition, this approach allows the City Council to evaluate the breadth of community <br />needs when determining an annual capital work plan and associated funding <br />requirements. Cataloguing long-term needs further allows the City to strategically seek <br />grants and other external funding sources as they become available. Fundamentally, <br />planning ahead for the repair and replacement of City assets and for the addition of new <br />amenities is a financial best practice. <br /> <br />Staff has begun the process of identifying potential capital projects that could be <br />included in a Five Year CIP. The potential projects, shown in Attachment A, are grouped <br />into three categories, as described further below. It is important to note that staff is still <br />reviewing the potential projects, and not all of the potential projects been or endorsed by <br />the City Council. Additionally, some projects which may be of interest to community <br />members, such as repair of substandard streets which have not traditionally received <br />funding as they would serve a small portion of the community, are not on the current list. <br />As a result, this list should be considered a starting point for development of a Five Year <br />CIP, rather than a final depiction of recommended capital investments. <br />8.A. - Page 1