HomeMy WebLinkAbout8B - 2007-2011 CIP Resolution
16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
MEETING DATE:
AGENDA #:
PREPARED BY:
AGENDA ITEM:
DISCUSSION:
CITY COUNCIL AGENDA REPORT
JUNE 26, 2006
88
Ralph Teschner, Finance Director
CONDUCT INFORMATIONAL HEARING AND CONSIDER APPROVAL OF A
RESOLUTION APPROVING THE 2007 - 2011 CAPITAL IMPROVEMENT
PROGRAM (CIP)
Introduction
This agenda item is an informational hearing on the proposed projects within
the 2007-2011 Capital Improvement Program. A "public hearing" is not
required by state statute, however the aforementioned hearing will provide our
residents an opportunity to make recommendations and comment on particular
projects. At the conclusion, a resolution adopting the 2007 CIP may be
considered by the City Council.
Historv
Annually the City prepares a capital improvement program (CIP). The CIP is
designed to identify infrastructure improvements and funding sources therefore
that are necessary as a result of primarily two factors; community growth and
infrastructure maintenance and replacement.
Such projects include City initiated improvements, county and state road
improvements and improvements requested by developers. In some cases
they involve financial responsibility on behalf of Prior Lake, while in others they
may not. In addition, an Equipment Matrix is included which identifies the City's
equipment needs and establishes a regular replacement schedule.
Earlier a draft copy of the 2007-2011 Capital Improvement Program was
distributed for your review so you would have more opportunity to become
familiar with the proposed projects. Also, a formal presentation was made to
the Council at its last council meeting. Within the CIP are condensed project
summary sheets (see inserts entitled "Capsule Project Summary") that present
a list of projects by year along with a financing source recap, the City's specific
share of the project cost and the estimated tax impact of each year's projects.
This capsule summary should be helpful for the Council to refer back and forth
between years as a quick reference guide.
Also included is a condensed financial analysis entitled "Financing Funds
Projection"that matches revenue sources with the five year CIP construction
demands showing the beginning and the ending position of those capital funds
which provide the underlying financing of the projects.
On March 27, 2006 the Prior Lake Planning Commission reviewed the 2007-
2011 Capital Improvement Program. The Commission did not suggest any
changes or revisions to the draft CIP. The Commission found that the CIP was
consistent with the goals and objectives of the City of Prior Lake
www.cityofpriorlake.com
H\CiP\CIP agenda. doc
Phone 952.447.4230 / Fax 952.447.4245
ISSUES:
H\CIP\CIP agenda.doc
Comprehensive Plan.
On June 5, 2006 the Council had the opportunity to review, discuss and
provide direction to Staff on specific items the Council wished to change.
There was consensus by the Council with respect to the 2007 proposed
projects with the program improvements for the remaining years supported by
the Council as a whole.
Current Circumstances
Enclosed is a revised Capsule Project Summary that presents a list of all the
proposed 2007-11 CIP projects as amended. The only change at this time was
the deletion of the platform fire truck assuming the City Council approves a
referendum on a second fire station and equipment. Also, at the June 5th
meeting, Councilmember LeMair expressed concern about the timing of the
Welcome Avenue industrial park water and sewer project. Staff has indicated
that the success of this project depends upon a petition from a significant
majority of the property owners or possibly downsizing the scope of such
improvements. The Council may wish to discuss that issue.
It is important for the Council to recognize that the document is a flexible
planning tool that is affected by the actions of a number of governmental
agencies (State, County and Shakopee Mdewakanton Dakota Community).
The Council should critically review those projects proposed for 2007. Those
improvements selected for bonding will affect the property taxes payable in 2008.
Council should remember that the school district and county will also influence
the level of taxes through their annual levies and periodic referendums and
bond issues. Those programs which are not deemed to be of high priority
(particularly in 2007) should be eliminated now so they do not generate public
expectation and also to avoid unnecessary City effort and expense.
Historically the TH13 intersections have been a high priority of the Council for
obvious reasons. However, due to the commitment of our future municipal
state aid funds for the Village Lake Drive, downtown redevelopment and major
county road cooperative project involving CSAH 12 and the general lack of
state funding the remaining TH 13 intersection improvements such as at
Oakland Beach, and 150th Street and CSAH 21 corridor improvements are
presently unfunded with the exception of the Fish Point Road signal-
intersection improvement scheduled for 2007. The primary reason for the
delay to complete those major improvement projects identified above is that
advanced borrowing of our annual MSAS allotment is no longer allowed.
However, in 2008 we will resume our MSA funding which is proposed to be
allocated for the northerly extension of CSAH 21.
A primary CIP concern is the timing of the future parks referendum. Until there
is a concerted effort from the vested interests i.e. PLAY, and the various
athletic associations, and depending upon the final recommendations from the
PAR task force and the incorporation of Heritage Farmstead, the referendum
remains in 2010. However, it could easily be accelerated if community support
is generated earlier. Plus due to anticipated bonding for such infrastructure
improvements as the fire station and water treatment plant, it would seem
prudent to plan for the referendum as scheduled in 2010.
FISCAL IMPACT:
H\CIP\CiP
Following Council approval of the Capital Improvement Program, Engineering
staff will prepare a feasibility report for those projects identified for next year.
Adequate lead time is important for surveying, right-of-way acquisition and
engineering to obtain the best possible bids, which is generally early in the
year.
Subsequent years in the CIP are more important from a planning perspective.
Our objective in preparing the CIP has been to balance the tax impacts from
year to year while addressing infrastructure needs.
In reviewing the draft 2007-2011 Capital Improvement Program, the Council
should consider the annual tax impact of the scheduled projects. While state
imposed levy limits could be imposed in the future, a special exception for our
debt levies associated with capital improvement program financing has always
been allowed.
The major projects proposed for 2007 involving a property tax levy (payable
2008) are listed below along with their respective tax impact:
Pro'ect Descri tion
Ci Tax 1m act*
%
_W._W"H___._...__..._................................._................__.__.__..._.._.................__.......... ......................."'..........................................._.............._.......................................................__.............
CSAH 12 - H~J_~j!}~~!~_~~!lC?_':I__."__."_...." i $75, 0.1 %
~_g.SAH 21 - Fish pt intersection . $430, $7.66 0.8%
L.!Q!~b~.:::....".............._....."."..."_"__.""..."..."."__...""_."."_._...~=::.:.~J5j)j,.QQQ.l."!~!..~9.::.::::1:::::.:::ij~i~::::::::
Listed below is a year by year tax recap of all the street reconstruction
projects. The Scott County Assessor has estimated that the average Prior
Lake market value of a home is nearly $300,000. This typical value has been
utilized for purposes of calculating the following tax impact.
*(A 2006 base tax of $1014.28 [City portion) was utilized to compute the
beginning percentage increases. Budgetary increases are excluded for
purposes of comparing the effect of capital dollars only within the context of
the CIP. Also this model assumes an annual 2% tax capacity valuation
growth.)
Proiect Year and LeVY Amount
Tax ImDact
$ %
$ 9.00 0.90%
$16.50 1.61%
$16.50 1.59%
$ --- --- %
$18.00 1.79%
2007 $505,000
2008 $950,000
2009 $984,000
2010 $---
2011 $1,173,000
As to the Equipment Matrix, the property tax experiences semi-annual $10,000
step increase over the matrix's 12 year term. The Equipment Matrix also has,
as one of its funding sources, an annual transfer of $80,000 from the
Enterprise Fund that is adjusted semi-annually as well because a significant
portion of the equipment serves the Water and Sewer departments.
ALTERNATIVES:
The following alternatives are available to the City Council:
1. Approve the proposed 2007-2011 Capital Improvement Program as
submitted.
2. Provide direction to the staff to modify the proposed program to
mitigate annual tax increases while insuring appropriate maintenance
of public infrastructure.
3. Amend the 2007-2011 Capital Improvement Program as per Council
determ ination.
RECOMMENDED
MOTION:
Alternative #1.
1. A Resolution Approving the 2007-2011 Capital Improvement Program.
2. Revised "Capsule Project Summary".
agenda doc
16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
RESOLUTION 06-xx
RESOLUTION APPROVING THE
2007-2011 CAPITAL IMPROVEMENT PROGRAM
MOTION BY: SECOND BY:
WHEREAS, The purpose of a Capital Improvement Program is to protect the
infrastructure of the City of Prior Lake by establishing a replacement plan for
existing infrastructure and to identify those improvements necessary to
accommodate the growth of the community; and
WHEREAS, An Equipment Matrix has been incorporated into the Capital Improvement
Program which is intended to identify the City's equipment needs and
provide a regular replacement schedule; and
WHEREAS, The Capital Improvement Program is a flexible planning document that
attempts to balance the financial resources of the City with its needs; and
WHEREAS, The establishment of a Capital Improvement Program will provide
appropriate information to manage capital change within the City of Prior
Lake; and
WHEREAS, It is intended for the Capital Improvement Program to be established for a
period of five (5) years and to be updated annually; and
WHEREAS, the City Council carefully reviewed each element of the Capital Improvement
Program during an informational presentation on June 5, 2006 and
suggested amendments to the document.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE that:
1. The recitals set forth above are incorporated herein.
2. The 2007-2011 Capital Improvement Program is hereby approved.
Passed and adopted this 26th day of June, 2006.
YES
NO
Haugen
Dornbush
Erickson
LeMair
Millar
Haugen
Dornbush
Erickson
LeMair
Millar
{Seal}
City Manager
. City of Prior Lake
www.cltyofpnorlake.com
H:\CIPICIP07res.doc
Phone 952.447.4230 / Fax 952.447.4245
CAPSULE PROJECT SUMMARY
3/2212008
2007 CIP PROJECTS
City Coat
Project Deac:r1pt1on Project Amount Financing Tax Impact
QQ!!AL Percentaoe
Public Safety Department
(Buildinas & Plant)
1. Joint Training Facility 8,440,000.00 750,000.00 g.f.
7,690,000.00 i.g.
Park Deparbnent
(Develolll7lentJ
2. Park Entrance Signs 5,000.00 5,000.00 c.p.
3. Basketball Courts - Howard & Rice Lake 10,000.00 10,000.00 c.p.
4. Backstops - Howard Lake 10,000.00 10,000.00 c.p.
5. Tree Planting Program 10,000.00 10,000.00 c.p.
6. Park Appurtenant Equipment 15,000.00 15,000.00 c.p.
7. Parking Lot - Howard & Rice Leke 30,000.00 30,000.00 c.p.
8. Picnic Shelters - Howard & Rice Leke 40,000.00 40,000.00 c.p.
9. Playground Equip. - Howard, Rice Lake, Woods @ ~ 115,000.00 115,000.00 c.p.
lIJHl c.p.
10. Jeffers Nature Trail 15,000.00 15,000.00 c.p.
11. Pedestrian Bridge - Jeffers Pond 40,000.00 40,000.00 c.p.
12. Rice Lake & Jeffers Pond 65,000.00 65,000.00 c.p.
13. Boardwalks - Howard Lake & Whiletaillsland 70,000.00 70,000.00 c.p.
Public Worka
(Buildinas & Plant)
14. Aerial photos 15,000.00 15,000.00 t.r.
15. Lift Station renovation 240,000.00 240,000.00 u.f.
16. Municipal Well #10 1,000,000.00 1,000,000.00 t.r.
(JmDfDvements)
17. Feasibility Study - Ida, Mushlown, Panama 20,000.00 20,000.00 u.f.
18. Watermain installations (Wilds) 50,000.00 50,000.00 t.r.
19. TrafflclFeaslblllty Study (TH 13 & 1501h Street) 70,000.00 35,000.00 S.o.
35,000.00 I.g.
20. Pressure Reducing Valves - Pike Lake 100,000.00 100,000.00 t.r.
21. Prior Lake Outlet Channel repairs 140,000.00 25,000.00 w.q.
115,000.00 t.r.
22. CSAH 12 - Hwy 13 intersection leg 3,560,000.00 25,000.00 S.o.
50,000.00 s.a.
50,000.00 w.q.
75,000.00 1.34 0.10%
100,000.00 u.f.
3,260,000.00 Lg.
23. Carriage Hills Parkway (east of Knob Hill) 200,000.00 200,000.00 S.o.
24. ltaaca Avenue trunk water line 400,000.00 400,000.00 u.f.
25. Stemmer Ridge Road extension (phase I) 600,000.00 200,000.00 S.o.
400,000.00 t.r.
26. CSAH 21 water utility improvementa 750,000.00 350,000.00 u.f.
400,000.00 t.r.
27. CSAH 21/Fish Point Road signal-intersactlon 4,700,000.00 83,000.00 m.s.
100,000.00 S.o.
100,000.00 t.r.
287,000.00 s.a.
430,000.00 7.66 0.80%
3,700,000.00 i.g.
Water RHource.
(JmDfDwmenfs)
28. Pondwaad Removal Program 5,000.00 5,000.00 w.q.
29. Undesirable Fish Containment Program 5,000.00 5,000.00 w.q.
30. Lake Bank Stebilization 10,000.00 10,000.00 w.q.
31. Storm Water Pond Dradging 30,000.00 30,000.00 w.q.
32. Non-degradation report 60000.00 ~ w.q.
Total. ... 20,820,000.00 20,820,000.00
Financing Source Summary Project Amount Tax Impact
Dollar Percentaae
$ Project Tax Levy 505,000.00 $9.00 0.90%
g.f. General Fund 750,000.00
u.f. Sewer & Water Utility Fund 1,110,000.00
w.q. Water Quality Utility Fund 185,000.00
c.p. Capital Park Fund 425,000.00
t.r. Trunk Reserve Fund 2,180,000.00
..0. Streat Oversize Fund 580,000.00
m... Municipal Stale Aid 83,000.00
.... Spacial Assessments 337,000.00
I.g. Intergovemmental 14685 000.00
Total. ... 20,820,000.00
8
CAPSULE PROJECT SUMMARY
3/22/2006
2008 CIP PROJECTS
City Cost
Project Description Project Amount Financing Tax Impact
Dollar Percentaae
Public Safety Department
(Buildinas & Plant)
1. 800 megahertz Radios 400,000.00 400,000.00 g.f.
Park Department
(Deve/ooment)
Park Entrance Signs 5,000.00 5,000.00 C.p.
3. Basketball Courts - Enclave at Cleary Lake 5,000.00 5,000.00 c.p.
4. Backstops - Enclave at Cleary Lake 10,000.00 10,000.00 c.p.
5. Tree Planting Program 10,000.00 10,000.00 c.p.
6. Park Appurtenant Equipment 15,000.00 15,000.00 c.p.
7. Parking Lot - Northwood Meadows 15,000.00 15,000.00 c.p.
8. Picnic Shelters - Enclave & Northwood Meadows 40,000.00 40,000.00 c.p.
9. Playground Equipment - Enclave & Northwood Meal 90,000.00 90,000.00 c.p.
10. Gazebo - Whitetail Island Park 20,000.00 20,000.00 c.p.
11. Hockey rink - Lakefront Park 75,000.00 75,000.00 c.p.
~
12. Jeffers Nature Trail 15,000.00 15,000.00 c.p.
13. Rice Lake 25,000.00 25,000.00 c.p.
14. Boardwalks - Enclave at Cleary Lake 80,000.00 80,000.00 c.p.
Public Works
(Buildinas & Plant)
15. Lift Station Standardization Upgrade 40,000.00 40,000.00 u.f.
16. Lift Station Renovation 200,000.00 200,000.00 u.f.
17. Municipal Well #11 1,125,000.00 1,125,000.00 t.r.
(/morovements)
18. Prior Lake Outlet Channel repairs 155,000.00 40,000.00 w.q.
115,000.00 t.r.
19. Sanitary Sewer - Sunset to Spruce Trail 300,000.00 300,000.00 t.r.
20. Fish Point Road extension to CSAH 21 225,000.00 50,000.00 t.r.
175,000.00 s.o.
21. Stemmer Ridge Road extension (phase II) 600,000.00 200,000.00 S.o.
400,000.00 t.r.
22. Brooksville Hills I Street Reconstruction 2,160,000.00 950,000.00 16.50 1.61%
630,000.00 s.a
500,000.00 u.f.
80,000.00 w.q.
Water Resources
(/morovements)
23. Pondweed Removal Program 5,000.00 5,000.00 w.q.
24. Undesirable Fish Containment Program 5,000.00 5,000.00 W.q.
25. Lake Bank Stabilization 10,000.00 10,000.00 w.q.
26. Storm Water Pond Dredging 30.000.00 30.000.00 W.q.
Totals ... 5,660,000.00 5,660,000.00
Financing Source Summary Project Amount Tax Impact
Dollar Percentaae
$ Project Tax Levy 950,000.00 $16.50 1.61%
g.f. General Fund 400,000.00
u.f. Sewer & Water Utility Fund 740,000.00
w.q. Water Quality Utility Fund 170,000.00
c.p. Capital Park Fund 405,000.00
t.r. Trunk Reserve Fund 1,990,000.00
..0. Street Oversize Fund 375,000.00
s.a. Special Assessments 630.000.00
Totals ... 5,660,000.00
9
CAPSULE PROJECT SUMMARY
3/22/2006
2009 CIP PROJECTS
City Cost
Project Description Project Amount Financing Tax Impact
Dollar Percentaae
Park Department
(Deve/ooment)
1. Park Entrance Signs 5,000.00 5,000.00 c.p.
2. Basketball Courts - Northwood Meadows 5,000.00 5,000.00 c.p.
3. Backstops - Northwood Meadows 10,000.00 10,000.00 c.p.
4. Tree Planting Program 15,000.00 15,000.00 C.p.
5. Park Appurtenant Equipment 15,000.00 15,000.00 c.p.
6. Picnic Shelters (2) - Spring Lake Township 40,000.00 40,000.00 c.p.
7. Playground Equipment (2) - Spring Lake Township 90,000.00 90,000.00 c.p.
(Trails)
8. Boardwalk - Whitetail Island Park phase II 50,000.00 50,000.00 c.p.
9. Sidewalk - Fremont Avenue 85,000.00 85,000.00 c.p.
Public Works
(Buildinas & Plant)
10. Lift Station Renovation 125,000.00 125,000.00 uJ.
11. Water Storage - ground storage tank 3,200,000.00 1,200,000.00 w.s.
2,000,000.00 t.r.
(/morovements)
12. Pressure Reducing Valves - CSAH 21 north 125,000.00 125,000.00 t.r.
13. Prior Lake Outlet Channel repairs 135,000.00 45,000.00 w.q.
90,000.00 t.r.
14. Fish Point Road extension to CSAH 21 225,000.00 50,000.00 t.r.
175,000.00 S.o.
15. Trunk Sewer & Watermain (CSAH 18/42 quad.) 300,000.00 300,000.00 t.r.
16. CSAH 21 N. Coop Share 6,190,000.00 90,000.00 gJ.
70,000.00 w.q.
630,000.00 m.s.
5,400,000.00 Lg.
17. Brooksville Hills II Street Reconstruction 2,685,000.00 984,000.00 16.50 1.59%
656,000.00 s.a
965,000.00 uJ.
80,000.00 w.q.
Water Resources
(/morovements)
18. Pondweed Removal Program 5,000.00 5,000.00 w.q.
19. Undesirable Fish Containment Program 5,000.00 5,000.00 w.q.
20. Lake Bank Stabilization 10,000.00 10,000.00 w.q.
21. Storm Water Pond Dredging 30.000.00 30.000.00 w.q.
Totals ... 13,350,000.00 13,350,000.00
Financing Source Summary Project Amount Tax Impact
Dollar Percentaae
$ Project Tax Levy 984,000.00 $16.50 1.59%
g.f. General Fund 90,000.00
u.f. Sewer & Water Utility Fund 1,090,000.00
w.q. Water Quality Utility Fund 245,000.00
c.p. Capital Park Fund 315,000.00
t.r. Trunk Reserve Fund 2,565,000.00
s.o. Street Oversize Fund 175,000.00
w.s. Water Storage Fund 1,200,000.00
m.s. Municipal State Aid 630,000.00
s.a. Special Assessments 656,000.00
I.g. Intergovernmental 5.400.000.00
Totals ... 13,350,000.00
10
CAPSULE PROJECT SUMMARY
3/22/2006
2010 CIP PROJECTS
Project Description
Project Amount
Park Department
(Deve/ooment)
1. Park Entrance Signs
2. Basketball Courts - Meadow Lawn
3. Tree Planting Program
4. Park Appurtenant Equipment
5. Picnic Shelters - Meadow Lawn
6. Playground Equipment - Meadow Lawn
7. Athletic Field Complex improvements @
*** Spring lake Park
*** Sand Point Beach & Campbell lake Pavilions
(Trails)
8. Meadow lawn
5,000.00
5,000.00
15,000.00
15,000.00
20,000.00
45,000.00
5,000,000.00
50,000.00
Public Works
(Buildinas & Plant)
9. Lift Station - CSAH 121Sunset Avenue
{/morovements}
10. Trunk Watermain (CSAH 18)
11. Prior lake Outlet Channel repairs
400,000.00
100,000.00
105,000.00
12. CSAH 12 Reconstruction
6,090,000.00
13. Industrial Park Sewer & Water Extension 2,280,000.00
Water Resources
{/morovements}
14. Pondweed Removal Program 5,000.00
15. Undesirable Fish Containment Program 5,000.00
16. lake Bank Stabilization 10,000.00
17. Storm Water Pond Dredging 30,000.00
18. Prior lake Alum Treatment 50.000.00
Totals ... 14,230,000.00
Financing Source Summary Project Amount
$ Project Tax levy 0.00
g.f. General Fund 90,000.00
u.f. Sewer & Water Utility Fund 350,000.00
w.q. Water Quality Utility Fund 225,000.00
c.p. Capital Park Fund 155,000.00
t.r. Trunk Reserve Fund 1,660,000.00
s.o. Street Oversize Fund 370,000.00
m.s. Municipal State Aid 630,000.00
s.a. Special Assessments 2,300,000.00
r.b. G.O. Referendum Bonds 5,000,000.00
I.g. Intergovernmental 3.450.000.00
Totals ... 14,230,000.00
11
Financing
City Cost
Tax Impact
Dollar Percentaae
5,000.00
5,000.00
15,000.00
15,000.00
20,000.00
45,000.00
5,000,000.00
c.p.
c.p.
c.p.
c.p.
c.p.
c.p.
r.b.
50,000.00
c.p.
400,000.00 t.r.
100,000.00 t.r.
45,000.00 W.q.
60,000.00 t.r.
90,000.00 g.f.
170,000.00 S.o.
300,000.00 s.a.
350,000.00 u.f.
630,000.00 m.s.
1,100,000.00 t.r.
3,450,000.00 Lg.
200,000.00 S.o.
2,000,000.00 s.a.
80,000.00 w.q.
5,000.00 w.q.
5,000.00 W.q.
10,000.00 w.q.
30,000.00 w.q.
50.000.00 w.q.
14,230,000.00
Tax Impact
Dollar Percentaae
$0.00 0.00%
CAPSULE PROJECT SUMMARY
3/22/2006
2011 CIP PROJECTS
City Cost
Project Description Project Amount Financing Tax Impact
Dollar Percentaae
Economic Development Authority
1. Downtown Redevelopment 1,400,000.00 200,000.00 u.f.
300,000.00 S.o.
400,000.00 s.a.
500,000.00 m.s.
Park Department
(Deve/oDment)
2. Park Entrance Signs 5,000.00 5,000.00 c.p.
3. Tree Planting Program 15,000.00 15,000.00 c.p.
4. Park Appurtenant Equipment 15,000.00 15,000.00 C.p.
5. Basketball Courts - Campbell Lake 20,000.00 20,000.00 C.p.
6. Parking Lot - Campbell Lake 60,000.00 60,000.00 c.p.
7. Playground Equipment - Campbell Lake 90,000.00 90,000.00 c.p.
Public Works
8. Pressure Reducing Valves - Fountain Hills 140,000.00 140,000.00 t.r.
9. Prior Lake Outlet Channel repairs 90,000.00 45,000.00 w.q.
45,000.00 t.r.
10. Annexation Area collector street & utilities 700,000.00 200,000.00 S.o.
500,000.00 t.r.
11. Shady Beach Street Reconstruction 2,585,000.00 1,173,000.00 18.00 1.79%
782,000.00 s.a
550,000.00 u.f.
80,000.00 w.q.
Water Resources
(fmDrovements)
12. Pondweed Removal Program 5,000.00 5,000.00 w.q.
13. Undesirable Fish Containment Program 5,000.00 5,000.00 w.q.
14. Lake Bank Stabilization 10,000.00 10,000.00 w.q.
15. Storm Water Pond Dredging 30.000.00 30.000.00 w.q.
Totals ... 5,170,000.00 5,170,000.00
Financing Source Summary Project Amount Tax Impact
Dollar Percentaae
$ Project Tax Levy 1,173,000.00 $18.00 1.79%
u.f. Sewer & Water Utility Fund 750,000.00
w.q. Water Quality Utility Fund 175,000.00
c.p. Capital Park Fund 205,000.00
t.r. Trunk Reserve Fund 685,000.00
s.o. Street Oversize Fund 500,000.00
m.s. Municipal State Aid 500,000.00
s.a. Special Assessments 1,182.000.00
Totals ... 5,170,000.00
12
CAPSULE PROJECT SUMMARY
3/22/2006
2007-11 CIP PROJECT FINANCING SOURCE TOTALS
Financing Source Amount
$ Project Tax Levy 3,612,000.00
g.f. General Fund Balance 1,330,000.00
u.f. Sewer & Water Utility Fund 4,040,000.00
w.q. Water Quality Utility Fund 1,000,000.00
c.p. Capital Park Fund 1,505,000.00
t.r. Trunk Reserve Fund 9,080,000.00
s.o. Street Oversize Fund 1,980,000.00
w.s. Water Storage Fund 1,200,000.00
m.s. Municipal State Aid Fund 1,843,000.00
s.a. Special Assessments 5,105,000.00
i.g. Intergovernmental 23,535,000.00
r.b. G .0. Referendum Bonds 5.000.000.00
Totals ... 59,230,000.00
13
FINANCING FUNDS PROJECTIONS
3/22/2006
(Needs vs. Available Dollars)
2006-2011
1/1/06 Fund Six-Year Revenue CIP Construction 1/1/12 Projected
Financina Source Reauest Balances Proiection Demands. Cash Balances
General Fund $ 4,493,000.00 $ 1,500,000.00 $ 1,920,000.00 $ 4,073,000.00
Sewer/Water Utility Fund $ 3,421,000.00 $ 3,000,000.00 $ 4,280,000.00 $ 2,141,000.00
Water Quality Utility Fund $ 213,000.00 $ 2,145,000.00 $ 2,207,000.00 $ 151,000.00
Capital Park Fund $ 283,000.00 $ 2,813,000.00 $ 1,930,000.00 $ 1,166,000.00
Trunk Reserve Fund $ 5,494,000.00 $ 9,048,000.00 $ 12,645,000.00 $ 1,897,000.00
Street Oversize Fund $ 693,000.00 $ 2,952,000.00 $ 3,096,000.00 $ 549,000.00
Water Storage Fund $ 339,000.00 $ 1,500,000.00 $ 1,200,000.00 $ 639,000.00
Municipal State Aid Fund -$ 843,000.00 $ 2,750,000.00 $ 1,843,000.00 $ 64,000.00
Project Tax Levy $ 3,612,000.00 $ 3,612,000.00
Special Assessments $ 5,105,000.00 $ 5,105,000.00
Intergovernmental $ 23,535,000.00 $ 23,535,000.00
G.O. Referendum Bonds $ 5,000,000.00 $ 5,000,000.00
TOTALS... $ 14,093,000.00 $ 62,960,000.00 $ 66,373,000.00 $ 10,680,000.00
FOOTNOTES:
elP Exvenditures:
.Construction demands... includes Yr. 2006 final General Fund $500,000 transfer to Building Fund & $90,000 dump pmt to County
includes Yr. 2006 CIP plus:
encumbered Capital Park projects of $104,000
encumbered Trunk Reserve projects of $480,000 (wells 8&9)
encumbered Street Oversize projects of $74,000 & escrows of $842,000
S&W Enterprise revenue projection net of $750,000 annual debt service for water treatment plant bonds
Water Quality Enterprise expenditures includes operating 2006-11 budget estimate of $1 ,002,000
Revenue Growth Assumvtions (six vears):
General Fund ... 1/1/06 fund balance plus $1,500,000
SIW Utility Fund ... 1/1/06 fund balance plus $3,000,000
Stonnwater Utility Fund... 1/1/06 fund balance plus $335,000/yr. + $9,000 annual increment increases (250 permits)
Capital Park ... 1/1/06 fund balance + 750 new lots (adj. 50% for land dedication) @ $3,750.00
Trunk: Reserve Fund ... 1/1/06 fund balance plus 600 ac. @ $1l,330/ac. + 1500 permits @ $1500.00
Street Oversize Fund ... 1/1/06 fund balance plus 600 ac. @ $4920/ac.
Water Storage Fund ... 1/1/06 fund balance plus 1500 permits @$1000.00
MSA Fund... 1/1/06 Construction balance plus $450,000 annual
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MSA Projects
3/22/2006
(Funded)
Year Proiect Descriotion Proiect Amount MSA Portion
2007 CSAH 21 / Fish Point Road intersection $ 1,000,000.00 $ 83,000.00
2009 CSAH 21 North Extension $ 790,000.00 $ 630,000.00
2010 CSAH 12 Reconstruction $ 2,640,000.00 $ 630,000.00
2011 Downtown Reconstruction
Total MSA Needs... $ 1,843,000.00
Total MSA Dollars... $ 1,907,000.00
BALANCE.. . $ 64,000.00
MSA Projects
3/22/2006
(Unfunded)
Proiect Descriotion
Proiect Amount
MSA Portion
TH 13: Oakland Beach
not incl. in CIP $ 500,000.00
TH 13: 150th Street
not incl. in CIP $ 750,000.00
CSAH 21: Corridor improvements
not incl. in CIP $ 2,050,000.00
Total unfunded MSA Needs... $ 3,550,000.00
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