AgdaPkt 2017-06-12 Joint SA PFA - Laserfiche WebLink

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2. Community for All Ages 3. Funding Long Term Liabilities 4. Housing 5. Maintaining and Enhancing Community Services – Public Safety/Public Works 6. Transportation To address these priorities, a variety of programs and activities have been developed for FY 2017-18. Examples of Council-prioritized activities by strategic area are outlined in the Budget Message of the budget document. Major Policy Initiatives Over the next fiscal year, staff will provide support to the City Council on major policy initiatives that will impact the community. Some of these initiatives include: regulating cannabis, reviewing potential Charter amendments, implementing the Docktown Plan, and discussing land use policies. During the initial budget development discussions this spring, the Council requested that staff consider addressing two new policy topics that can impact the quality of life for residents and businesses in Redwood City: a comprehensive review of Courthouse Square events, and a local minimum wage ordinance. In the budget document, staff has included a memo outlining the timelines for these topics, which includes work plans that address the level of staff effort needed to study, draft, implement and engage the community on each of these topics. Staff recommends that the Council provide direction on whether to address either or both of these topics in FY 2017-18. Potential Threats to the City’s Financial and Community Stability The City’s continued fiscal stability may be compromised by reductions in revenue and by insufficient funding of long term liabilities. Major areas of concern include: changes in federal policies; the ability of the community to adapt to economic, social, and climate change; whether the City will continue to receive excess Educational Revenue Augmentation Fund refunds; volatility of sales tax revenue; and addressing the City’s long-term unfunded pension and retiree medical obligations. Detailed information on these topics is included in the Budget Message section of the budget document. Capital Improvement Plan (CIP) On May 8, staff recommended a Five-Year CIP in order to offer a longer-term view of the City’s infrastructure needs. Recommendations for FY 2017-18 are primarily for non- discretionary projects that are already in process or essential. The proposed Five-Year CIP includes 132 projects with an estimated cost of $529.5 million. 8.D. - Page 6