AGENDA CAPTION:
Title
Receive a Staff presentation regarding approved FY25 CIP Projects and related funding, including the proposed issuance of debt.
Body
Meeting date: February 4, 2025
Department: Engineering and CIP
Amount & Source of Funding
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Fiscal Note:
Prior Council Action: Ordinance 2024-40(b) on 09/17/2024 - Approving FY 2025 CIP
City Council Strategic Initiative: [Please select from the dropdown menu below]
Public Safety, Core Services & Fiscal Excellence
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
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☒ Core Services
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Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
As part of the budget process, a 10-year CIP plan is approved annually by City Council. Approved FY 2025 projects from the approved 10-year plan, along with projects that were deferred from a prior year are compiled and reviewed by staff for appropriate scope, timing and funding. Funding for the projects comes from a combination of sources, including issuance of debt.
Attached is a presentation and worksheet detailing projects, funding sources and anticipated debt to be issued in support of the FY25 Capital Improvement Program.
A future agenda item will include the detailed multi-year financing plan, and Resolution directing publication of the Notice of Intent to issue debt.
Council Committee, Board/Commission Action:
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Alternatives:
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Recommendation:
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