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7.A. - Page 3 of 9 <br />Five -Year Capital Improvement Program (CIP) <br />The CIP is a valuable resource for achieving the City Council's strategic priorities. Transportation and <br />Water are two of the largest funded areas within the CIP. In recent years, City Council has reviewed a <br />recommended CIP budget for the upcoming fiscal year in the spring, and approved a recommended CIP <br />budget during the City Council budget sessions in June. <br />Funding for capital projects is derived from many sources, with the Utility Users Tax (UUT) being the <br />primary revenue source utilized for all capital improvement projects. Dedicated revenue sources, which <br />are restricted to specific purposes, include park impact fees, water and sewer enterprise funds, and <br />various transportation funds including Measure A and Gas Tax revenues. <br />These sources are expected to contribute approximately $158.4 million over the next five fiscal years, <br />including approximately $31.7 million in FY 2019-20. The recommended Five -Year CIP includes 84 projects <br />with an estimated cost of $238.9 million. Of this amount, $24.8 million is expected to be spent in FY 2019- <br />20 and $214.1 million is expected to be spent in FY 2020-21 through FY 2023-24. These amounts do not <br />include $3.0 million for staff resources. <br />Only the recommended FY 2019-20 CIP budget is aligned with anticipated revenue and staffing, and will <br />be requested for budget approval. The remaining fiscal years of the Five -Year CIP are for planning <br />purposes, with projects beyond FY 2019-20 largely unfunded at this time. No budget approval for future <br />fiscal years is requested at this time. <br />The table below provides a snapshot of the recommended Five -Year CIP by functional area. <br />Successor Agency to the Redevelopment Agency <br />Included in the FY 2019-20 Recommended Operating Budget presented to Council on June 10 was a <br />budget for the Successor Agency. This budget appears in the Fiduciary Funds section, pages 378-379. <br />The budget provides the necessary resources to finance the Successor Agency's obligations of $3.7 <br />million that will come due in FY 2019-20. <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />739 <br />Estimated <br />Functional Area <br />5 -yr Cost <br />Facilities Total <br />$ 15,006,000 <br />Pa rk i nig Tota 1 <br />880,000 <br />Parks Total <br />12,125,000 <br />Redwood Shores Levee/Lagoon Total <br />3,050,000 <br />Sewer Tota 1 <br />40, 924, 000 <br />Sto rmw ate r Tota 1 <br />33, 850, 000 <br />Te ch n o 1 o gy Tota 1 <br />8,723,572 <br />Transportation Total <br />88,434,837 <br />Wate r Tota 1 <br />35,906,000 <br />Grand Total <br />$ 238,899,409 <br />Successor Agency to the Redevelopment Agency <br />Included in the FY 2019-20 Recommended Operating Budget presented to Council on June 10 was a <br />budget for the Successor Agency. This budget appears in the Fiduciary Funds section, pages 378-379. <br />The budget provides the necessary resources to finance the Successor Agency's obligations of $3.7 <br />million that will come due in FY 2019-20. <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />739 <br />