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88 Page 7 Allocate funds for replacement and security of water infrastructure A prudent Capital Improvement Program (CIP) provides for: . The systematic replacement of the distribution system (pipes, pumps and reservoirs) and support facilities within an acceptable life cycle and before normal wear and tear renders system components inoperable. . A long-range strategic plan to ensure that all health and safety standards and regulatory requirements are met on a continuous basis. . A degree of financial flexibility, to respond to federal, state and regional regulations which are constantly changing and when enacted into law must be complied with in relatively short periods of time. All funding for such impacts must be borne by the City; there are no federal or state funding sources available. The annual expenditure target of $2 million based on: . The current estimated replacement value of the water distribution system. which is $100 million. . An average cycle of useful life of 50 years for the entire system. Maintain an emergency reserve In 1990, the City Council accepted a water system study that recommended establishment of a $2.0 million system emergency reserve. In 1992-94 the reserve was accumulated and has been maintained since. Key factors for maintaining the reserve: . The water distribution system is pressurized and therefore prone to incur or cause high levels of damage in major disaster events, such as earthquakes. . Fire suppression requirements must be met continuously during any and all emergency conditions. . The system is equipment intensive and therefore any emergency response will be costly. . In the event of a water quality or pUblic health emergency involving the water distribution system, response must be prompt, thorough and in complete compliance with relevant county, state and federal regulations. It is imperative that sufficient reserve funds are immediately available to cover such an intensive and costly situation. Continue support of well-planned economic growth Water is a critical resource for this community and a fundamental ingredient to social, economic and environmental sustainability over the long term. Redwood City businesses must remain competitive within the Bay Area and global marketplace. Demand for additional housing within the Hetch Hetchy regional water system service area is expected to continue. In order to protect existing customers from risk of shortages and provide decision-makers with long-range choices and options, a reliable, reasonably priced, high quality water supply must be sustained. Page 3 of 3