HomeMy WebLinkAbout07(A) - Public hearing to Consider the 2027-2031 Capital Improvement Program (CIP), Capital Improvement Plan (Facilities) and Street Reconstruction Plan Report
ITEM: 7A
CITY COUNCIL AGENDA REPORT
MEETING DATE: August 12, 2026
PREPARED BY: Jason Etter, Accounting Manager
Nicole Klekner, Finance Director
Chris Watson, Public Works Supervisor - Administration
Nick Monserud, Public Works Director
PRESENTED BY: Nicole Klekner and Nick Monserud
AGENDA ITEM: Public hearing to Consider the 2027-2031 Capital Improvement
Program (CIP), Capital Improvement Plan (Facilties) and Street
Reconstruction Plan
RECOMMENDED ACTION:
The purpose of this agenda item is for the City Council to conduct a public hearing on the
proposed projects within the 2027-2031 Capital Improvement Plan for facilities and 2027-2031
Street Reconstruction Plan. Since both the Capital Improvement Plan for Facilities and the Street
Reconstruction Plan propose to utilize bonds issued under State Statutes 475.521 and 475.58,
respectively, a public hearing for purposes of reviewing the plans are required. Approval of the
Street Reconstruction Plan requires a super majority (4 of 5 council members) for approval.
Approval of the Capital Improvement Plan for Facilities requires a majority (3 of 5 council
members).
RECOMMENDED ACTION 2:
In addition, the council will be asked to approve the overall five-year (2027-2031) Capital
Improvement Program (CIP) which includes all plans: the transportation, equipment replacement,
park, facilities, technology, water, sewer, and stormwater plans.
BACKGROUND:
The Capital Improvement Program is one of the City’s long-term financial planning tools. The
CIP is updated on an annual basis. The CIP is designed to identify infrastructure improvements
and the associated funding sources needed due to ongoing maintenance, repair, and
community growth. Such projects include city-initiated improvements, as well as county and
state road improvements.
The following long-term planning documents are part of the CIP:
Pavement Management Plan – identifies the annual street improvement project(s) and annual street
overlay project.
o Annual Street Improvement Project(s) – identifies the major roadway improvements
involving both new and reconstruction projects that need to be coordinated with Scott County.
o Annual Street Overlay – identifies the city’s annual street overlay costs and anticipated
project levy and bonding for the special assessment portion of the annual project costs.
Equipment Replacement Plan – identifies the city’s vehicle and equipment needs and establishes
a regular replacement schedule.
Park Plan – identifies the new park capital improvements and the equipment replacement demands
for 49 parks.
City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372
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Facilities Management Plan – identifies major repairs or improvements to all city-owned buildings.
Technology Plan – identifies hardware and software needs and establishes a regular replacement
schedule.
Water Plan – identifies major replacements or additional infrastructure needed to supply potable
water to the city.
Sewer Plan – identifies major replacements or additional infrastructure needed to collect and
discharge sanitary waste from the city.
Storm Water Plan – identifies major repairs or additional infrastructure needed to manage storm
water discharge in the city.
Each plan in the CIP was reviewed with the City Council during the June 23 work session, and overall tax
levy and debt impacts were reviewed at the July 28 work session. At those meetings, Staff provided a
detailed overview of the 2027 projects and highlights of other major projects scheduled for 2027-2031.
During the work session, guidance was provided to staff regarding changes in the overall tax levy and
planned 2027 utility rates.
Current Circumstances
A presentation of the 2027-2031 CIP will be provided to inform the Council and the public of the planned
projects, financial planning, and financial impact of the CIP as part of the annual CIP update. A public
hearing is being held today for the purpose of receiving public input on the 2027-2031 Capital
Improvement Plan (as a part of the City’s Facilities Management Plan) and the Street Reconstruction
Plan (as a part of the City’s overall Transportation Plan).
The projects that are reflected in year 2027 of the five-year CIP have been incorporated into the 2027
budget. The improvements that are funded in full or partially by tax levies have a direct impact on the
level of property taxes payable in future years. Bond proceeds are utilized to pay for projects, and debt
levies are adopted to repay the debt service. The following draft documents are included: 1) Five-Year
Capital Improvement Plan (Attachment 6), Facilities Capital Improvement Plan (Attachment 4), and 3)
the Street Reconstruction Plan (Attachment 5).
It is important for the Council to recognize that the CIP is a flexible planning tool that is affected by the
actions of other governmental agencies such as the State, the County and the Shakopee Mdewakanton
Sioux Community.
Summary of Capital Improvement Program Planning Documents:
See Attachment 6 for the draft Capital Improvement Program (CIP) documents.
PAVEMENT MANAGEMENT PLAN – TRANSPORATION AND STREET OVERLAY
PROJECTS
The Pavement Management Plan has been updated to identify a combination of mill and overlay,
rehabilitation and reconstruction projects based on an average annual cost of $11,200,000 for
streets over the 10-year planning period.
Funding for pavement management includes annual gas and electric franchise fee revenue
dedicated to pavement management, estimated at an annual average of $1,500,000/year for the
five-year planning period. Staff recommend reviewing and updating the franchise fees every three
years. The Council recently approved updated rates for 2025.
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The proposed projects for 2027 – 2031 are noted below.
2027 – Northwood Phase 2
This is proposed to be a complete reconstruction of the street including water, sewer, and
stormwater improvements. The project area includes Fremont Rd NW as well as numerous side
streets adjacent to Fremont Rd NW and Northwood Rd NW.
2027 – Wilds & Jeffers
This area was rehabilitated in 2024-2025 and is scheduled for seal coating, which is customary
2-3 years after new pavement is installed to help seal in the oils and prolong the life of the
pavement.
2028 – Green Heights
This is proposed to be a complete reconstruction of the street with water, sewer, and stormwater
improvements. The project area includes Green Heights Trail SW, Pershing St SW, and other
adjacent cross streets.
2029 – Northwood Phase 3
This is proposed to be a complete reconstruction of the street with water, sewer, and stormwater
improvements. The project area includes the southern portion of Northwood Rd and Butternut
Circle NW.
2029 – Sunset Hills
This is proposed to be a complete reconstruction of the street with water, sewer, and stormwater
improvements. The project area includes Sunset Trail SW and Sunray Cir SW.
th
2030 – 180 Street Paving
th
This section of 180 St. from Sunray Blvd to Fairlawn Ave is currently gravel. This project
includes paving this section of roadway. Also, as part of the Aspen Ridge Development, the
Developer has contributed $326,834 towards this project.
2030 - Mill and Overlay Projects
Planned overlays for 2030 include Adelmann St SE, Trailhead Ln, and Fish Point Road from
Fawn Meadow Curve SE to Oak Point Dr.
2030 – Berens Road Extension
This project is an extension of Berens Rd to CSAH 21 and is identified in Scott County’s
Transportation Improvement Plan.
2031 – Big Woods Trail (County Project)
This is a proposed trail rehabilitation from Revere Way to Franklin Trail along CSAH 21.
EQUIPMENT REPLACEMENT PLAN (ERP)
An evaluation of the condition of the City’s fleet is completed annually and the ERP is updated. A Vehicle
Replacement Rating (VRR) is used as a tool in completing equipment evaluations in an objective and
systematic way using data collected through the fleet management system. The ERP also includes an
inventory and replacement schedule for equipment attachments and emergency sirens to ensure
appropriate funding is identified for these items as well. The cost for these items is updated annually based
on recent purchases and other industry changes. See Attachment 6 for more details.
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Funding Sources:
Based on the planned use of funds for equipment replacement, the annual tax levy needs to be increased
to meet our needs. The council has directed staff to smooth the levy increase where possible, so an annual
increase of approximately $50,000 has been built into the plan.
Our goal is to maintain the levy at a level that provides adequate cash flow to cover the next year’s
expenditures, to absorb an unplanned equipment failure, or to fund an unanticipated equipment need. Our
average annual equipment funding need is $1,700,000 per year over the next 10 years. The proposed tax
levy funding level for 2027 is $1,025,000. We will continue to incrementally increase the property tax levy to
get to our annual funding goal. Debt issuance is proposed in this fund in 2027 and 2028, primarily for fire
truck replacements.
See Attachment 6 for more details.
PARK PLAN
The Council adopted the Parks and Trails System Plan on March 12, 2024, and amended the City’s 2040
comprehensive plan on June 11, 2024, to reflect the recently adopted Parks and Trails System plan. This
plan includes current parks and proposed changes/updates as well as the city’s future needs and location
of new parks.
The City’s park referendum request did not advance based on the election results in November 2025 so
there will be ongoing park funding discussions as the Council makes decisions on future park impacts.
Fund 225 – New Park improvements
In accordance with State Statutes, revenues in the Capital Park Fund may only be used for the acquisition
and development of new parks, recreational facilities, playgrounds, trails, wetlands, or open space based
on the approved park systems plan.
Fund 430 – Existing Park replacements/improvements
This plan funds capital replacement projects, park amenities, and trail, sidewalk, and boardwalk
replacement. The plan proposes a phased increase in the tax levy to cover the capital projects in the plan.
See Attachment 6 for park plan details.
FACILITY MANAGEMENT PLAN (FMP)
The FMP was developed to plan for major repairs, replacements, and upgrades for all our facilities. The
FMP uses standard life expectancy of the facility components and equipment to determine the appropriate
placement in the plan. City Hall and the Police Station buildings were both built in 2006 and need significant
facility component replacement. An evaluation was completed to determine the remaining useful life of some
of the major facility components such as HVAC systems, roofing, etc. Based on this evaluation and review
by the Facilities Manager, significant facility project costs for City Hall, the Police Station and the Library are
included in the FMP including replacement of roofing, HVAC updates, and parking/safety enhancements.
The Maintenance Center expansion is slated for 2032 with engineering and project planning costs starting
in 2030. Bonding for these major projects has been updated to include bonding each year from 2027-2032.
See Attachment 6 for facilities plan details.
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TECHNOLOGY PLAN
The Technology Plan is used to plan for current and long-range IT capital needs including general
equipment, network infrastructure and software needs. While this plan is reflective of the needs
of our various departments, the actual request could change as part of the budget review process.
See Attachment 6. Significant projects include phone system upgrade in 2028, Council Chambers
equipment in 2031 and election equipment in 2031.
UTILITY FUNDS – FINANCIAL MANAGEMENT PLANS
The City’s utility funds finance their portions of the Capital Improvement Program through transfers-out to
other funds and by transactions occurring within the specific utility funds themselves. The utility funds make
transfers-out to the Construction Fund for their portions of the Pavement Management Plan (PMP) projects.
Other items that specifically relate only to that utility are accounted for within the fund, such as a water tower
rehabilitation occurring in the Water fund. Staff develop a financial management plan for each utility fund
that includes planning financing sources for capital activities.
The financial management plans for water, sewer and stormwater utility services achieve the following goals:
Rate Calculation: Provide a rate calculation that results in equitable and competitive fixed versus
variable portion charge to customers, and considers conservation impact of tiers and block rates.
Revenue Sufficiency: Focus on revenue sufficiency to provide cash balances that support the
following objectives:
o Revenue to meet current and future obligations
o Avoid future debt issuance consistent with City objectives
o Cash on hand to provide:
• Three months of operating expense
• Following year debt service payments
• Following year capital acquisition (planned to be paid from cash)
• Reserves for replacement of infrastructure located under private streets
• Reserves for future capital improvements
2027 Resident Impact and Sample Bill:
The City plans for annual increases in utility rates to accomplish the objectives discussed above while
moderating the effects on utility users. Based upon the City’s current estimates and water consumption level
and utility replacement component of street projects, utility customers will experience increases of 4.0-4.2%
in their 2027 utility bill based on their level of water use.
For the utility funds to support operations and their respective portions of the Capital Improvement Program,
funding is achieved through rates charged and/or debt issuance over the 10-year planning period.
To achieve this, the following rate increases are proposed for 2027 (medium water user):
2027 Proposed Annual Monthly
FundRate IncreaseImpactImpact
Water4.0%$ 24 $ 2
Sewer4.5%$ 30 $ 3
Stormwater3.0%$ 5 $ 0
Combined Total4.1%$ 59$ 5
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MCES fee details: It should be noted that City utility bills also include an MCES Fee for sewer. This fee does
not support City operations or the Capital Improvement Plan, but rather is a fee collected by the City from
residents to pay the Metropolitan Council’s Environmental Services fee for regional wastewater treatment.
The fee will increase 6.94% for 2027, reflecting the increased fee that the Metropolitan Council is charging
Prior Lake. This fee increase as well as the utility rate increases needed to support operations and the
Capital Improvement Plan is reflected below.
The projected annual increase for all utility services is shown below:
Sample Bimonthly Utility Bill:
FINANCIAL IMPACT:
Debt Analysis and Tax Impact
In reviewing the 2027-2031 Capital Improvement Program, the City Council should consider the
level of debt as well as the annual tax impact of the scheduled projects.
Amount as of
Debt TypePurpose
December 31, 2025
G.O. Special Assessments 7,055,000Street Improvement Projects
G.O. TIF Bonds0Tax Increment Project
G.O. Bonds (MV) 1,565,000 Referendum Project (Fire Station #2)
G.O. Bonds2,965,000Street Reconstruction Projects
G.O. Bonds3,760,000Public Works Building and CIP Projects
520,000
G.O. BondsEquipment
Item 7A
Maintenance Facility, Water Treatment
G.O. Revenue Bonds5,555,000
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Facility & Utility Replacement Projects
G.O. Capital Improvement
The 2027-2031 CIP includes projects that are planned to be funded by bond proceeds/debt.
2,625,000City Hall & Police Station
Bonds
Energy Lease Loan Payable Guaranteed Energy Savings Program
Bonds are issued for the project costs that the city is funding through tax levies as well as the
0
(GESP)Projects
24,045,000
Total
costs that are specially assessed to property owners.
As of 12/31/2025, the City of Prior Lake had $24,000,000 in debt. The following chart reflects
the type of debt. One-third of the debt is for facilities: Water Treatment Plant (through 2030),
Fire Station 2, City Hall, and the Police Station (through 2031).
The 2027-2031 CIP anticipates the following bonding (debt issuance) needs:
The Equipment Replacement Plan includes $3,810,000 of bonding for major equipment
replacement expenditures primarily for fire truck replacements (ladder truck in 2027 and
pumper truck in 2028).
Bonding of $3,500,000 for major park replacement expenditures includes the replacement
of the entrance road and four parking lots at Ponds Park in 2028.
The Facilities Plan includes $11,230,000 of bonding for major facility repairs for City Hall
and Police Station including replacement of membrane roofing and heating, ventilation,
and air conditioning (HVAC) updates, addition of dormitories at Fire Station 2, and
parking/safety enhancements.
The Pavement Management Plan includes bonding of $12,900,000 for transportation plan
projects and street mill & overlay projects. The repayment sources for this bonding include:
o Tax levy
Long-Term Financial Planning
Long-Term Financial Planning
Bond Proceeds for Capital Projects
Projected Change in Debt Outstanding
Projected Bonding by Year
Fund Name
202620272028202920302031
20272028202920302031
Total Debt Outstanding (Existing & Planned)
Revolving Equip Fund F410 2,265,000 1,545,000 - - -
Governmental Funds Debt Outstanding
20,980,000 22,550,000 30,225,000 32,030,000 32,680,000 32,505,000
Revolving Park Equip Fund F430 - 3,500,000 - - -
Enterprise Funds Debt Outstanding
3,585,000 2,735,000 6,995,000 6,245,000 5,460,000 11,460,000
Facilities Mgmt Fund F440 515,000 3,915,000 2,165,000 2,060,000 2,575,000
Total Debt Outstanding (Existing & Planned)
24,565,000 25,285,000 37,220,000 38,275,000 38,140,000 43,965,000
PIR Revolving Fund F450 - - - 710,000 -
Construction Fund F501 2,895,000 2,810,000 4,215,000 1,575,000 695,000
-
Governmental Funds Subtotal 5,675,000 11,770,000 6,380,000 4,345,000 3,270,000
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Water Fund - - - - -
Stormwater Fund - - - - -
Sanitary Sewer Fund - 5,150,000 - - 6,815,000
o Project Special Assessment (the City provides the upfront funding for the special
Utility Funds Subtotal - 5,150,000 - - 6,815,000
assessment portion via bonding)
City total Debt Issuance - All funds 5,675,000 16,920,000 6,380,000 4,345,000 10,085,000
The Sewer Fund includes bonding of $11,970,000 for planned expenditures for sewer
replacement costs on street reconstruction projects as well as lift station rehab, sewer
lining, and SCADA software update.
The table below summarizes the proposed bonding by fund and year:
Summary of Projected Debt Balances
The following tables reflect all bonding requirements referenced in the CIP, Pavement
Management Plan, Facilities Management Plan, and Equipment Replacement Plan.
Based on the proposed projects in the CIP, debt is projected to increase from $24,000,000 at the
end of 2025 to $44,000,000 at the end of 2031.
Projected Debt per Capita:
Projected debt per capita based on the current capital projects planned is shown in the table
below. The city is working to manage its debt load while providing needed capital replacement
projects in a growing city.
Projected CIP Tax Levy
Long-Term Financial Planning
Projected Debt Service (funded by Utility Fund
CIP Tax Levies:
20272028202920302031
2027-2031 CIP
Revenues)
Debt Service Levy 3,454,655 3,889,440 4,390,759 4,060,724 3,530,139
Projected
20272028202920302031
Equipment Revolving Fund 1,025,000 1,075,000 1,075,000 1,150,000 1,200,000
202620272028202920302031
Water 801,700 810,450 645,350 652,650 659,200
Revolving Park Equip Fund 655,000 705,000 705,000 750,000 800,000
Debt Per Capita (assumes population growth)
Sewer 165,500 168,000 497,325 394,550 391,900
Facilities Management Fund 355,000 405,000 555,000 600,000 650,000
Debt Per Capita 868 890 1,304 1,328 1,311 1,497
Stormwater 87,650 90,650 88,400 91,150 88,650
PIR Fund - - - - -
Total CIP Tax Levies 5,489,655 6,074,440 6,725,759 6,560,724 6,180,139
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Bond Repayment through Debt Service Tax Levy:
The table below is a summary of the annual projected total CIP tax levy by component.
Bond Repayment Debt Service supported by Water and Sewer Fund Revenues:
The projected annual debt service for the utility funds is shown below:
CIP Impact on Long Range Financial Plan:
The financial plan incorporates the debt and tax levy impacts of the Capital Improvement
Program. Approval of the CIP does not obligate the City to complete the proposed projects or
purchases. The 2027 projects and proposed purchases will be incorporated into the 2027 budget
requests for budgeted funds. Further Council approvals may be necessary to comply with state
statutes and the city’s purchasing policy.
The City’s financial planning reflects funding general operations, future planned capital
improvements, including related debt service on planned bond issuance to support capital
improvements for streets, equipment replacement and facilities capital maintenance projects.
Debt repayment is based on level annual debt service payments.
Funding for proposed projects in the CIP results in an estimated 10-year average tax levy increase
of 6.8% and an estimated 10-year average tax rate increase of 3.0%. This is in line with the
parameters established in the City’s 2023 long range financial planning study.
CITY OF PRIOR LAKE
CITY PROPERTY TAX PROJECTION
Five Year Planning Period
202620272028202920302031
TAX LEVIES
General Fund Levy - Tax Capacity 16,267,024 16,864,136 18,032,656 19,595,626 20,819,085 22,357,525
General Fund Levy - Market Value 265,888 273,988 281,638 283,838 290,738
277,888
Debt Service Fund 2,979,220 3,454,655 3,889,440 4,390,759 4,060,724 3,530,139
Item 7A
CIP Funds 1,825,000 2,035,000 2,185,000 2,335,000 2,500,000 2,650,000
Total Tax Levies 21,337,132 22,627,779 24,388,735 26,605,223 27,670,547 28,815,553 Page | 10
Annual $ Change 1,485,227 1,290,646 1,760,956 2,216,489 1,065,324 1,145,006
TOTAL % CHANGE IN TAX LEVIES7.5%6.0%7.8%9.1%4.0%4.1%
The estimated tax levies and tax rate projections for the city’s five-year financial plan are shown
CITY TAX CAPACITY TAX RATE32.03%33.54%35.45%35.77%36.05%
below.
Annual % Change2.07%4.72%5.69%0.92%0.77%
Debt per Capita 868 890 1,304 1,328 1,311 1,497
Bonds Outstanding 24,565,000 25,285,000 37,220,000 38,275,000 38,140,000 43,965,000
Change in Bonds Outstanding 720,000 11,935,000 1,055,000 (135,000) 5,825,000
ALTERNATIVES:
1. Motion and Second to close the Public Hearing and 1) approve the 2027-2031 Capital
Improvement Program, 2) approve the 2027-2031 Capital Improvement Plan as part of
the Facilities Management Plan and 3) approve the 2027-2031 Street Reconstruction
Plan
ATTACHMENTS:
1. Resolution - Conduct a Public hearing to Consider the Approval of the 2027-2031
Capital Improvement Program (CIP)
2. Resolution - Conduct a Public hearing to Consider the Approval of the 2027-2031
Capital Improvement Plan (facilities)
3. Resolution - Conduct a Public hearing to Consider the Approval of the 2027-2031 Street
Reconstruction Plan
4. 2027-2031 Capital Improvement Plan (facilities) \[Bonding authority - MN Statutes
Section\]
5. 2027-2031 Street Reconstruction Plan \[Bonding authority - MN Statutes Section 475.58\]
6. 2027-2031 Capital Improvement Program – Draft
4646 Dakota Street SE
Prior Lake, MN 55372
RESOLUTION 26-
A RESOLUTION APPROVING THE 2027 – 2031 CAPITAL IMPROVEMENT PRGRAM (CIP)
Motion By: Second By:
WHEREAS, the CIP is a flexible planning document that attempts to balance the financial
resources of the City with its needs; and
WHEREAS, during the course of the preparation and review of the 2027 to 2031 CIP the City
Council has considered, for each capital improvement and for the CIP overall:
the condition of the City's existing infrastructure, including the projected need
for repair or replacement; the likely demand for the improvement; the estimated
cost of the improvement; the available public resources; the level of overlapping
debt in the City; the relative benefits and costs of alternative uses of the funds;
operating costs of the proposed improvements; and alternatives for providing
services most efficiently through shared facilities with other cities or local
government units; and
WHEREAS, the CIP covers a period of five (5) years and is updated annually; and
WHEREAS, Staff presented a summary of the 2027-2031 CIP at the August 12, 2026, City
Council meeting to provide information to the public on the planned projects,
financial planning, financial impact of the CIP, and capital spending priorities of
the City Council; and
WHEREAS, the City expects to reimburse the expenditures made for certain costs of the
projects included in the CIP from the proceeds of bonds. Therefore, a separate
resolution RES19-092 was previously approved establishing procedures
relating to compliance with reimbursement bond regulations under the Internal
Revenue Code.
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein.
2. The 2027-2031 Capital Improvement Program is hereby approved.
Passed and adopted by the Prior Lake City Council this 12th day of August 2026.
VOTE Briggs Braid Churchill Hellier Lake
Aye
☐ ☐ ☐ ☐ ☐
Nay
☐ ☐ ☐ ☐ ☐
Abstain
☐ ☐ ☐ ☐ ☐
Absent
☐ ☐ ☐ ☐ ☐
______________________________
Jason Wedel, City Manager
EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE CITY OF PRIOR LAKE, MINNESOTA
HELD: August 12, 2026
Pursuant to due call and notice thereof, a regular or special meeting of the City Council of
the City of Prior Lake, Scott County, Minnesota, was duly held at City Hall on August 12, 2026,
at 7:00 P.M., for the purpose, in part, of giving preliminary approval to the issuance of general
obligation capital improvement plan bonds and adopting the capital improvement plan.
The following members were present:
and the following were absent:
Member _____________ introduced the following resolution and moved its adoption:
RESOLUTION NO. _____________
RESOLUTION GIVING PRELIMINARY APPROVAL TO THE ISSUANCE OF GENERAL
OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS IN AN AMOUNT NOT TO
EXCEED $11,230,000 AND ADOPTING THE CITY OF PRIOR LAKE, MINNESOTA,
CAPITAL IMPROVEMENT PLAN FOR THE YEARS 2027 through 2031
WHEREAS, the City Council (the "Council") of the City of Prior Lake, Minnesota (the
"City") proposes to issue its general obligation capital improvement plan bonds, in one or more
series, (the "Bonds") and adopt the Capital Improvement Plan for the years 2027 through 2031
(the "Plan"); and
WHEREAS, the City has caused notice of the public hearing on the intention to issue the
Bonds and on the proposed adoption of the Plan to be posted pursuant to and in accordance with
Minnesota Statutes, Sections 475.521 and 331A.10, subd. 2; and
WHEREAS, a public hearing on the intention to issue the Bonds and on the proposed Plan
has been held on this date; and
WHEREAS, in approving the Plan, the Council considered for each project and for the
overall Plan:
1. The condition of the City's existing infrastructure, including the projected need for
repair and replacement;
2. The likely demand for the improvement;
3. The estimated cost of the improvement;
4. The available public resources;
5. The level of overlapping debt in the City;
6. The relative benefits and costs of alternative uses of the funds;
7. Operating costs of the proposed improvements; and
8. Alternatives for providing services more efficiently through shared facilities with
other local governmental units; and
301685640v1
WHEREAS, the Council has determined that the issuance of general obligation capital
improvement plan bonds in the aggregate principal amount of up to $11,230,000 is the best way
to finance the capital improvements identified in the Plan.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Prior Lake,
Minnesota that the Council hereby ratifies the actions of the City Clerk in causing the publication
of the Public Hearing Notice to be posted on the City's website and on the Minnesota Newspaper
Association's statewide public notice website, as required by law; and the City hereby adopts the
Plan and authorizes the issuance of up to $11,230,000 aggregate principal amount of general
obligation capital improvement plan bonds.
The motion for the adoption of the foregoing resolution was duly seconded by member
____________ and, after full discussion thereof and upon a vote being taken thereon, the following
voted in favor thereof:
and the following voted against the same:
Whereupon the resolution was declared duly passed and adopted.
\[Bonds must be approved by at least a three-fifths vote of the membership.\]
\[Issuance of Bonds is subject to a 30-day reverse referendum after the public hearing.\]
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STATE OF MINNESOTA
SCOTT COUNTY
CITY OF PRIOR LAKE
I, the undersigned, being the duly qualified and acting City Clerk of the City of Prior Lake,
Minnesota, DO HEREBY CERTIFY that I have compared the attached and foregoing extract of
minutes with the original thereof on file in my office, and that the same is a full, true and complete
transcript of the minutes of a meeting of the City Council, duly called and held on the date therein
indicated, insofar as the minutes relate to a resolution giving preliminary approval to the issuance of
the City's general obligation capital improvement plan bonds and adopting the City's capital
improvement plan therefor.
WITNESS my hand on August 12, 2026.
_______________________________________
Heidi Simon, City Clerk
3
301685640v1
EXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE CITY OF PRIOR LAKE, MINNESOTA
HELD: August 12, 2026
Pursuant to due call and notice thereof, a regular or special meeting of the City Council of
the City of Prior Lake, Scott County, Minnesota, was duly held at City Hall on August 12, 2026,
at 7:00 P.M., for the purpose, in part, of adopting a street reconstruction plan and authorizing
issuance of street reconstruction bonds.
The following members were present:
and the following were absent:
Member ______________ introduced the following resolution and moved its adoption:
RESOLUTION NO. ___________
RESOLUTION ADOPTING A STREET RECONSTRUCTION PLAN AND APPROVING
THE ISSUANCE OF GENERAL OBLIGATION STREET RECONSTRUCTION BONDS
WHEREAS, the City Council (the "Council") of the City of Prior Lake, Minnesota (the
"City"), has determined that it is in the best interest of the City to authorize the issuance and sale
of general obligation street reconstruction bonds pursuant to Minnesota Statutes, Section 475.58,
subdivision 3b, as amended (the "Act"), to finance the cost of street reconstruction projects, as
described in the proposed street reconstruction plan described below, a copy of which is on file in
the City Clerk's office; and
WHEREAS, pursuant to the Act, the City is authorized to issue and sell general obligation
street reconstruction bonds for street reconstruction under the circumstances and within the
limitations set forth in the Act. The Act provides that a street reconstruction plan may be financed
with general obligation street reconstruction bonds, following adoption of a street reconstruction
plan, after a public hearing on the street reconstruction plan and on the issuance of general
obligation street reconstruction bonds and other proceedings conducted in accordance with the
requirements of the Act; and
WHEREAS, pursuant to the Act, the City has prepared a five year street reconstruction
plan for calendar years 2027 through 2031, which describes the streets to be reconstructed, the
estimated costs and any planned reconstruction of other streets in the City, including the issuance
of general obligation street reconstruction bonds under the Act (the "Plan"), to determine the
funding strategy for street reconstruction projects; and
WHEREAS, on August 12, 2026, the Council held a public hearing on the adoption of the
Plan and the issuance of not to exceed $14,040,000 general obligation street reconstruction bonds
(the "Bonds") under the Plan for street reconstruction improvements to those streets described in
the Plan (the "Street Reconstruction Projects") after posting the notice of public hearing not less
than 10 days nor more than 28 days prior to the date thereof on the City's website and on the
Minnesota Newspaper Association's statewide public notice website,; and
301685636v1
WHEREAS, all parties who appeared at the public hearing were given an opportunity to
express their views with respect to the proposal to adopt the Plan and to undertake and finance the
Street Reconstruction Projects by the issuance of Bonds and any written comments submitted prior
to the public hearing were considered.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Prior Lake,
Minnesota, as follows:
1. Public Hearing Notice. The Council hereby ratifies the actions of the City Clerk in
causing the publication of the Public Hearing Notice to be posted on the City's website and on the
Minnesota Newspaper Association's statewide public notice website, as required by law.
2. City Policies and Goals. The financing of the Street Reconstruction Projects and
the issuance and sale of the Bonds would further the policies and goals of the City as set forth in
the Plan, hereby adopted by the Council in connection with the issuance of the Bonds.
3. Adoption of Street Reconstruction Plan. Based on information received at the
public hearing, such written comments (if any) and such other facts and circumstances as the
Council deems relevant, it is hereby found, determined and declared that:
(a) the Street Reconstruction Projects proposed in the Plan will allow the City to
upgrade its transportation infrastructure to accommodate anticipated and existing
residential and commercial development; and
(b) the Plan is hereby approved and adopted in the form presently on file with the City.
4. Authorization and Approval of Bonds. The City is hereby authorized to issue the
Bonds, the proceeds of which will be used, together with any additional funds of the City which
might be required, to finance certain costs of the Street Reconstruction Projects and to pay costs
of issuance of the Bonds.
5. Execution of Documents. The Mayor and City Manager are authorized and directed
to execute such other documents and instruments as may be required to give effect to the
transactions herein contemplated.
6. Voter Referendum Contingency. Pursuant to the Act, a petition requesting a vote
on the question of issuing the Bonds, signed by voters equal to five percent of the votes cast in the
last municipal general election, may be filed within thirty days of the public hearing. Upon receipt
of such petition within the prescribed time period, the City may issue the Bonds only after
obtaining the approval of a majority of the voters voting on the question of the issuance of the
Bonds. The authorizations and approvals contained herein are subject to and contingent upon not
receiving such a petition, or, in the event such a petition is filed, the approving vote of a majority
of the voters voting on the question of the issuance of the Bonds.
The motion for the adoption of the foregoing resolution was duly seconded by member
_____________ and, after a full discussion thereof and upon a vote being taken thereon, the
following voted in favor thereof:
2
301685636v1
and the following voted against the same:
Whereupon the resolution was declared duly passed and adopted.
\[Bonds must be approved by at least a two-thirds vote of the membership present.\]
\[Issuance of Bonds is subject to a 30-day reverse referendum after the public hearing.\]
3
301685636v1
STATE OF MINNESOTA
SCOTT COUNTY
CITY OF PRIOR LAKE
I, the undersigned, being the duly qualified and acting City Clerk of the City of Prior Lake,
Minnesota, DO HEREBY CERTIFY that I have compared the attached and foregoing extract of
minutes with the original thereof on file in my office, and that the same is a full, true and complete
transcript of the minutes of a meeting of the City Council, duly called and held on the date therein
indicated, insofar as the minutes relate to adopting a street reconstruction plan and the issuance of
general obligation street reconstruction bonds.
WITNESS my hand on August 12, 2026.
________________________________
Heidi Simon, City Clerk
4
301685636v1
CITY OF PRIOR LAKE, MN
2027 to 2031 CAPITAL IMPROVEMENT PLAN
August 12, 2026
Adopted ______________, 2026
CITY OF PRIOR LAKE
2027-2031 CAPITAL IMPROVEMENT PLAN
I. INTRODUCTION
In 2003, the Minnesota State Legislature adopted a statute that generally exempts city and town
general obligation bonds issued under a capital improvement plan from the referendum
requirements usually required for city halls, public works, public safety facilities and libraries.
The statute on general obligation capital improvement plan bonds is Minnesota Statutes,
Section 475.521 (the “Act”).
On August 12, 2026, the City Council held a public hearing on the adoption of the 2027-2031
Capital Improvement Plan and the issuance of general obligation improvement bonds.
On August 12, 2026, the City Council adopted Resolution No. 26-_____ approving the 2027-
2031 Capital Improvement Plan (the “CIP”). The approved 2027-2031 Capital Improvement
Plan anticipates the issuance of general obligation bonds to finance certain facilities
improvements as described in the CIP.
In order for the City of Prior Lake (the “City”) to proceed to issue general obligation bonds,
pursuant to the Act, the City must make certain findings. These findings are included in this
document.
II. PURPOSE
Under the Act, a capital improvement is a major expenditure of City funds for the acquisition
or betterment to public lands, buildings, or other improvements used as a city hall, town hall,
library, public safety, or public works facility, which has a useful life of five years or more.
Under the Act, capital improvements do not include light rail transit or related activities, parks,
road/bridges, administrative buildings other than a city hall or town hall, or land for those
facilities. For the purposes of the Act, the CIP is a document designed to anticipate capital
improvement expenditures and schedule them over at least a five-year period so that they may
be purchased in the most efficient and cost-effective method possible. A CIP allows the
matching of expenditures with anticipated income. As potential expenditures are reviewed, the
City considers the benefits, costs, alternatives, and impact on operating expenditures.
Before issuing bonds under a CIP, the City must hold a public hearing on the CIP and the
proposed bonds and must then approve the CIP and authorize the issuance of the bonds by at
least a 3/5 majority.
If a petition signed by voters equal to at least 5 percent of the votes cast in the last general City
election requesting a vote on the issuance of bonds is received by the municipal clerk within
30 days after the public hearing, then the bonds may not be issued unless approved by the voters
at an election.
A-1
The statute has established certain criteria that must be considered for each project to be
undertaken pursuant to this CIP (the “Projects”). These criteria are:
1. Condition of the City’s existing infrastructure and projected need for repair or replacement
2. Demand for the improvement
3. Cost of the improvement
4. Availability of public resources
5. Level of overlapping debt
6. Cost/benefits of alternative uses of funds
7. Operating costs of the proposed improvements
8. Alternatives for providing services most efficiently through shared facilities with other
municipalities or local governments
The CIP is designed to be updated and modified on an annual basis. In this manner, it becomes
an ongoing fiscal planning tool that continually anticipates future capital expenditures and
funding sources.
III. PLAN SUMMARY
This CIP is intended to describe and analyze the need for the Projects in accordance with the
Act. The City may modify this CIP from year to year as authorized by the Act.
Following is a summary of estimated expenditures for the Projects, including cost of bond
issuance (financing costs):
2027 Expenditures
The City intends to do a bathroom remodel at the Thomas Ryan facility. The combined
estimated cost of the improvements to these facilities along with cost of issuance to be
financed through bond proceeds is $515,000.
2028 Expenditures
The City intends to do multiple projects. City Hall improvements include a bathroom
remodel, carpet, chiller, air handler and a BAS upgrade. Fire Station 2 will see a dorm
remodel project. The Police Station improvements include a bathroom remodel, boiler
replacement, BAS upgrade, carpet, locker room remodel and VAV boxes. The combined
estimated cost of the improvements to these facilities along with cost of issuance to be
financed through bond proceeds is $3,915,000.
2029 Expenditures
The City intends for maintenance and remodel in City Hall and the Library/Club Prior.
The major improvement in City Hall will be roofing. The Library/Club Prior will see
A-2
roofing, air handling units, carpet and a BAS upgrade. The combined estimated cost of the
improvements to these facilities along with cost of issuance to be financed through bond
proceeds is $2,165,000.
2030 expenditures
The City intends for multiple improvements around the City. Fire Station 1 will see a
rooftop unit, infrared heaters and windows. We anticipate engineering fees for the
Maintenance Facility. The Police Station plan includes roofing and parking enhancements.
The combined estimated cost of the improvement to these facilities along with cost of
issuance to be financed through bond proceeds is $2,060,000.
2031 Expenditures
The City intends for roofing at Fire Station 1 and engineering costs for the Maintenance
Facility. The combined estimated cost of the improvements to these facilities along with
cost of issuance to be financed through bond proceeds is $2,575,000.
Analysis
The City has analyzed the eight points required by the Act for the Projects on an individual
basis and as a whole. The findings are as follows:
1. Conditions of City Infrastructure, Including the Projected Need for Repair or
Replacement and Need for the Project
Improvements to City public safety, public works, and city hall facilities in future years are for
capital maintenance and repair of existing facilities.
2. Likely Demand for the Project
The City’s basic government service operations, including administration, police, fire, and
public works operations are housed in facilities that are in need of capital maintenance and
repair.
3. Estimated Cost of the Project
The estimated cost, including architectural/engineering, contingency, legal and bonding, of the
Project is set forth above.
4. Available Public Resources
The City does not have sufficient cash reserves on hand to finance the improvement of the city
hall and public works and public safety facilities without issuing bonds. The City plans to use
the bond proceeds to reimburse the City for the Projects.
A-3
5. Level of Overlapping Debt in the City
As of July 2, 2026, the level of overlapping debt in the City is provided in the table below:
2025/2026
2025/2026 Tax Outstanding
Tax Capacity General
Percentage Taxpayers’
Capacity Value Applicable Obligation Share
(1)(1) (2)
Issuer Value in Cityin City Debt of Debt
Scott County $ 345,024,650 $67,263,937 19.50% $86,835,000 $16,932,825
ISD No. 719 (Prior
Lake-Savage) 108,716,245 64,331,356 59.17 109,983,926 65,077,489
ISD No. 720
(Shakopee) 108,106,610 2,932,581 2.71 85,014,567 2,303,895
(3)
Metropolitan Council 6,503,726,905
67,263,937 1.03 12,100,000 124,630
(4)
Metro Transit 5,665,367,373
67,263,937 1.19 223,650,000 2,661,435
$ 87,100,274
Total Indirect Debt:
(1)
Tax Capacity Value is after tax increment deduction and fiscal disparity adjustments.
(2)
As of July 2, 2026, unless noted otherwise.
(3)
Metropolitan Council has $12,100,000 of general obligation debt outstanding as of December 31, 2025. This debt
is payable from ad valorem taxes levied on all taxable property within the Metropolitan Taxing District. This
amount excludes $1,122,348,000 of general obligation debt payable from wastewater and sewer revenues, and
lease agreements.
(4)
Metropolitan Transit has $223,650,000 of property tax supported general obligation debt outstanding as of
December 31, 2025. Transit debt is issued by the Metropolitan Council for public transit operations and is payable
from ad valorem taxes levied on all taxable property within the Metropolitan Transit District. This amount excludes
$181,410,000 of general obligation debt payable from revenues.
A-4
6. Relative Benefits and Costs of Alternative Uses of the Funds
The proposed Projects could potentially be financed through the issuance of lease-revenue
bonds. However, both costs of issuance and overall debt service payments would be
significantly higher, since lease-revenue bonds are not general obligation debt and are therefore
not as attractive to potential purchasers. The issuance of general obligation capital
improvement plan bonds represents the most cost-efficient way to finance the proposed
Projects.
7. Operating Costs of the Proposed Project
Operating costs are not expected to be impacted to any significant degree with the proposed
improvements.
8. Alternatives for Providing Services Most Efficiently Through Shared Facilities with
Other Municipalities or Local Government Units
The proposed capital improvements are being made to maximize effective, cost-effective City
facilities, and as such, there would be no greater efficiency achieved through constructing
shared facilities with other local government units.
IV. FINANCING THE CAPITAL IMPROVEMENT PLAN
The total amount of requested expenditures under the CIP is expected not to exceed
$11,230,000, including estimated cost of issuance of bonds. These expenditures are to be
funded by the sale of the City’s general obligation capital improvement plan bonds not to
exceed $11,230,000.
In the financing of the CIP, two statutory limitations apply. Under Minnesota Statutes, Chapter
475, as amended, with few exceptions, a municipality cannot incur debt in excess of 3% of the
assessor’s Estimated Market Value (“EMV”) for the municipality. In the case of a municipality
with a population of 2,500 or less, the bonds are not subject to the net debt limits. The City’s
2025 population was approximately 28,500. Therefore, the proposed general obligation capital
improvement plan bonds to be issued in the years 2027 through 2031 would be subject to the
debt limit.
Another limitation on bonding under the Act is that without referendum, the total amount that
can be used for principal and interest in any one year for CIP debt cannot exceed 0.16% of the
EMV for the City. The City has portions of four outstanding series of bonds, its General
Obligation Bonds, Series 2018A (the “Series 2018A Bonds”), General Obligation Bonds,
Series 2021A (the “Series 2021A Bonds”), General Obligation Bonds, Series 2021B (the
“Series 2021B Bonds”), and General Obligation Bonds, Series 2026A (the “Series 2026A
Bonds” and together with the Series 2018A Bonds, the Series 2021A Bonds, the Series 2021B
Bonds, the “Outstanding CIP Bonds”), issued under the Act. The maximum amount of
principal and interest due in any calendar year on the Outstanding CIP Bonds, combined, is
$1,273,338. In payable year 2026, the City’s EMV was $6,089,682,900. Therefore, the total
amount available to be used to pay principal and interest on the outstanding bonds plus any
new bonds issued under this Plan is $9,743,493 per year ($6,089,682,900 x 0.16% =
$9,743,493, which is greater than the maximum amount of principal and interest due in any
year on the Outstanding CIP Bonds plus the proposed new bonds.).
A-5
Under this CIP the City may issue up to $11,230,000 in general obligation capital improvement
plan bonds in the years 2027 through 2031 to finance the Projects. If the City were to issue
general obligation capital improvement bonds in the maximum principal amount of
$11,230,000 for the Projects, the bond issue would be repaid over a period not to exceed thirty
(30) years pursuant to the Act.
Expected debt service on the proposed bonds for the Projects is within the statutory limits.
Annual Review of the Capital Improvement Plan
The City Council, using the process outlined in this CIP, plans to review this CIP annually,
considering proposed expenditures, making priority decisions, and seeking funding for those
expenditures it deems necessary for the City. If deemed appropriate, the City Council will
prepare an update to this CIP.
(The remainder of this page is intentionally blank)
A-6
CITY OF PRIOR LAKE, MN
2027 to 2031 STREET RECONSTRUCTION PLAN
AS OF AUGUST 12, 2026
City of Prior Lake
2026-2030 Street Reconstruction Plan
Page 2 of 4
City of Prior Lake, MN
2027 to 2031 Street Reconstruction Plan
I. Introduction
The City of Prior Lake (the “City”) historically has conducted street maintenance and
reconstruction as part of its annual operational budget or as part of a street improvement
capital improvement project. The maintenance and reconstruction have included seal
coating, mill and overlay, complete reconstruction, and other such items incidental to the
maintenance of city streets. The City finds that it does not always have the resources for
reconstructing streets as quickly as required, due to increased need for major
reconstruction projects.
Due to this fact, the City has in the past and plans to in the future finance a portion of its
street reconstruction through the issuance of General Obligation Street Reconstruction
Bonds.
II. Statutory Authority and Requirements
Minnesota Statutes, Section 475.58, Subdivision 3b (the “Act”) authorizes Minnesota cities to
adopt a Street Reconstruction Plan. The Plan must cover at least a five-year period and set
forth the streets to be reconstructed, the estimated costs, and any planned reconstruction of
other streets in the municipality over the next five years.
Street Reconstruction Bonds can be used to finance the reconstruction and bituminous
overlay of existing city streets. Eligible improvements may include turn lanes, bicycle lanes,
sidewalks, paths, and other improvements having a substantial public safety function,
realignments, other modifications to intersect with state and county roads, and the local
share of state and county road projects. Except in the case of turn lanes, bicycle lanes,
sidewalks, paths, and other safety improvements, realignments, intersection modifications,
and the local share of state and county road projects, street reconstruction does not include
the portion of project cost allocable to widening a street or adding curbs and gutters where
none previously existed. Street Reconstruction Bonds are subject to the debt limit.
The Act sets forth specific requirements for the issuance of Street Reconstruction Bonds,
which are as follows:
• The projects financed under this authority must be described in a street reconstruction
plan, as described above.
• The city must publish notice of and hold a public hearing on the proposed plan and
the related issuance of bonds. The notice must be published at least ten days but not
more than 28 days prior to the hearing date.
• The Plan must be approved by a vote of a two-thirds majority of the members of the
governing body present at the meeting following a public hearing.
City of Prior Lake
2026-2030 Street Reconstruction Plan
Page 3 of 4
• The issuance of bonds is subject to a reverse referendum. An election is required if
voters equal to 5% of the votes cast in the last municipal general election file a petition
with the city clerk within 30 days of the public hearing. If the city decides not to
undertake an election, it may not propose the issuance of Street Reconstruction Bonds
for the same purpose and in the same amount for a period of 365 days from the date of
receipt of the petition. If the question of issuing the bonds is submitted and not
approved by the voters, the provisions of section 475.58, subdivision 1a, shall apply
(no resubmission for same purpose/amount for 180 days).
III. History and Existing Street Reconstruction Bonds
At the time of the approval of the Plan, the following Street Reconstruction (issued
under Chapter 475) were outstanding:
IV. Net Debt Limits
Minnesota Statutes Section 475.53, Subd. 1 states that no municipality, except a school
district or a city of the first class, shall incur or be subject to a net debt in excess of three
percent of the market value of taxable property in the municipality.
Bonds issued under the authority granted by this Street Reconstruction Plan are subject to
the net debt limit restriction described above. The net debt capacity for the City at time of
approval of the Original Plan is shown below under Statutory Debt Limit.
Statutory Debt Limit
Minnesota Statutes, Section 475.53 states that a city or county may not incur or be subject to
a net debt in excess of three percent (3%) of its estimated market value. Net debt is, with
limited exceptions, debt paid solely from ad valorem taxes.
Bond Issue Amount Outstanding
$3,505,000 G.O. Bonds, Series 2016A $40,000
$8,270,000 G.O. Bonds, Series 2018A 450,000
$2,065,000 G.O. Bonds, Series 2019A 680,000
$5,760,000 G.O. Bonds, Series 2021A 1,445,000
$1,620,000 G.O. Bonds, Series 2023A 350,000
Total Outstanding Street Reconstruction Bonds $ 2,965,000
City of Prior Lake
2026-2030 Street Reconstruction Plan
Page 4 of 4
At time of approval of the proposed Plan the City’s Statutory Debt Limit is as follows:
Computation of Legal Debt Margin as of July 1, 2026:
2026 Estimated Market Value $ 5,929,639,937
Multiplied by 3% x .03
Statutory Debt Limit $ 177,889,198
Outstanding debt applicable to debt limit:
$3,630,000 G.O. Bonds, Series 2016A $ 40,000
$8,720,000 G.O. Bonds, Series 2018A 775,000
$2,065,000 G.O. Bonds, Series 2019A 765,000
$5,760,000 G.O. Bonds, Series 2021A 3,305,000
$5,870,000 G.O. Bonds, Series 2021B 2,625,000
$1,620,000 G.O. Bonds, Series 2023A 350,000
Less outstanding debt applicable to debt limit: $ 7,860,000
Legal debt margin $ 170,029,198
The Plan provides for the issuance of a not to exceed amount of $14,040,000 in General
Obligation Street Reconstruction Bonds between January 1, 2027 and December 31, 2031.
This amount includes estimated cost of issuance of bonds, capitalized interest and rounding.
The proposed bond issuance is within the current City’s Legal Debt Margin, as of the date of
adoption of the Plan.
V. Proposed Street Reconstruction and Cost Estimate
The Plan is detailed in Table A. The City reserves the right to adjust the amount of annual
spending between years provided the overall not to exceed amount in the Plan is not
increased.
CITY OF PRIOR LAKE 2027-2031
STREET RECONSTRUCTION PLAN AMOUNTS
January 1, 2027 through December 31, 2027
Northwood Street Recon Project - Phase 2 1,900,000$
CSAH 17 Expansion 70,000
CR 12 & CSAH 17 Intersection 110,000
TOTAL 2027 2,080,000$
January 1, 2028 through December 31, 2028
Green Heights Area 3,310,000$
TOTAL 2028 3,310,000$
January 1, 2029 through December 31, 2029
Sunset Hills Area 4,750,000$
Northwood Street Recon Project - Phase 3 940,000
TOTAL 2029 5,690,000$
January 1, 2030 through December 31, 2030
180th St Paving 690,000$
Berens Road Extension 830,000
Adelmann St Mill and Overlay 250,000
Fish Point Mill and Overlay 450,000
Clearly Lake Area Mill and Overlay 70,000
TOTAL 2030 2,290,000$
January 1, 2031 through December 31, 2031
None -$
TOTAL 2031 -$
GRAND TOTAL (1/1/2027 THROUGH 12/31/2031)13,370,000
Bond Issuance Costs, Capitalized Interest, and Rounding 670,000
GRAND TOTAL 14,040,000
TABLE A
CapitalCapital
ImprovementImprovement
ProgramProgram
Capital
Improvement
Program
2027-20312027-20312027-2031
DRAFT
4646 Dakota Street SE
Prior Lake, MN 55372
Date: August 12, 2026
To: Mayor Briggs, Council Members and Residents of Prior Lake
From: Jason Wedel, City Manager
Subject: 2027-2031 Capital Improvement Program
The City of Prior Lake plans for the long-term maintenance and improvement of public infrastructure through the
development of a five-year Capital Improvement Program (CIP). The CIP serves as the City's strategic roadmap for
investing in and maintaining essential public assets, including streets, trails, parks, public buildings, water mains,
sanitary sewer infrastructure, vehicles, and other major equipment.
The 2027–2031 CIP aligns with the City Council's strategic priorities and long-range financial planning efforts.
Each year, the program is reviewed, updated, and adopted by the City Council to reflect completed projects,
changing community needs, evolving priorities, and available financial resources. This annual review ensures that
the City remains responsive while maintaining a disciplined approach to infrastructure planning.
The Capital Improvement Program is one of the City's most important financial planning tools. By identifying
future infrastructure needs well in advance, the City can responsibly plan for major investments, coordinate
projects efficiently, and ensure that funding is available when needed. This proactive approach supports reliable
public services, protects the City's existing infrastructure, and helps preserve the quality of life that residents
expect.
A key objective of the CIP is to maximize the use of pay-as-you-go funding whenever practical. By setting aside
resources in advance and planning projects over multiple years, the City minimizes its reliance on debt financing,
reduces long-term borrowing costs, and maintains the financial flexibility necessary to address future community
needs. This disciplined approach reflects the City's ongoing commitment to sound fiscal stewardship and
responsible management of public resources.
______________________________
Jason Wedel, City Manager
DRAFT
2027-2031 CAPITAL IMPROVEMENT PROGRAM
Adopted August 12, 2026
by the
PRIOR LAKE CITY COUNCIL
Term Expires
Mayor Kirt Briggs December 31, 2028
Councilmember Zach Braid December 31, 2028
Councilmember Kim Churchill December 31, 2026
Councilmember Victor Lake December 31, 2026
Councilmember Ethan Hellier December 31, 2028
STAFF
City Manager Jason Wedel
Assistant City Manager Lori Olson
Finance Nicole Klekner
City Engineer/Public Works Nick Monserud
Police Chief Liam Duggan
Fire Chief Rick Steinhaus
Community Development Casey McCabe
DRAFT
TABLE OF CONTENTS (Pg 1 of 2)
1. Department Summary
This table summarizes total project costs each year by department.
2. Funding Source Summary
This table summarizes the impact of the projects identified in the CIP on
each of the funding sources.
3. Pavement Management Plan (2027-2031)
Projects by Department - This table provides a five-year summary of street
overlay and improvement projects.
Projects & Funding Sources by Department – This table provides the five-
year detail of street overlay and improvement projects and funding sources
by project.
Funding Summary – This table provides a five-year summary of the funding
sources being used for projects.
Sources and Uses of Funds – This table provides a five-year projection of
revenues, expenditures, and fund balance.
The Transportation Plan Map identifies the proposed CIP projects.
The Street Reconstruction Plan (adopted 8/12/2026) identifies the projects
that could potentially be funded by street reconstruction bonds
4. Equipment Replacement Plan (2027-2031)
Projects by Department – This table provides the five-year detail of
equipment replacement by department.
Projects & Funding Sources by Department – This table provides the five-
year detail of equipment replacement and funding sources.
Funding Summary – This table provides a five-year summary of the funding
sources being used for equipment replacement.
Sources and Uses of Funds – This table provides a five-year projection of
revenues, expenditures, and fund balance.
5. Park Plan (2027-2031)
Projects by Department and Category – This table provides the five-year
detail of park development and replacement projects.
Projects & Funding Sources by Department – This table provides the five-
year detail of park development and replacement projects and funding
sources.
Funding Summary – This table provides a five-year summary of the funding
sources being used for the park plan.
Sources and Uses of Funds – This table provides a five-year projection of
revenues, expenditures, and fund balance.
DRAFT
TABLE OF CONTENTS (Pg 2 of 2)
6. Facilities Management Plan (2027-2031)
Projects by Department and Category – This table provides the five-year
detail of facility improvement projects.
Projects & Funding Sources by Department – This table provides the five-
year detail of facility improvements and funding sources.
Funding Summary – This table provides a five-year summary of the funding
sources being used for facility improvements.
Sources and Uses of Funds – This table provides a five-year projection of
revenues, expenditures, and fund balance.
The Capital Improvement Plan (adopted 8/12/26) identifies the projects that
could potentially be funded by capital improvement plan bonds.
7. Technology Plan (2027-2031)
Projects by Department and Category – This table provides the five-year
detail of technology equipment and infrastructure.
Projects & Funding Sources by Department – This table provides the five-
year detail of technology equipment and funding sources.
8.Enterprise Funds
These tables provide a summary of uses and sources of funds and planned
capital projects for Water, Sewer and Storm Water
9.Debt Analysis & Tax Impact
10.City Financial Management Plan DRAFT
2027-2031 CAPITAL IMPROVEMENT PROGRAM
Two of the goals of the city’s Strategic Plan are “Stable and Sustainable Infrastructure” and
“High Quality Parks & Trails.” These goals contain objectives for financial stability and a
comprehensive funding strategy to ensure sufficient resources. The CIP is a primary tool for
meeting these objectives and providing a sound strategy for our capital needs.
The Prior Lake Capital Improvement Program (CIP) addresses these goals by focusing on long-
term planning for the expansion, replacement and/or maintenance of capital assets. Capital assets
refer to infrastructure (water, sewer, storm water, and streets), vehicles and equipment, park
equipment, facilities, and technology software and hardware.
The CIP is reviewed on an annual basis to identify the need for expansion, replacement and/or
maintenance; the timeframe to complete the project; and the appropriate funding source. The
final document reflects the specific goals, policies and priorities of the City Council and the
Strategic Plan. It is important to note that the CIP is a planning document and contains estimates
for the project and equipment costs. Prior to the implementation of any individual improvement
project, staff must prepare a feasibility study, conduct a public hearing, request bids for the
construction costs, and obtain approval for all phases of the project from the City Council.
The CIP also includes the following long-term plans: Pavement Management Plan (Annual Street
Improvement Project(s) and Street Overlay), Equipment Replacement Plan, Park Equipment
Replacement Plan, Technology Plan, Facilities Management Plan and plans for each of the three
enterprise funds including Water, Sewer, and Storm Water.
The Pavement Management Plan identifies the annual street improvement project(s) and annual
street overlay project.
o Annual Street Improvement Project(s) – identifies the major roadway
improvements involving both new and reconstruction projects that need to be
coordinated with Scott County.
o Annual Street Overlay – identifies the City’s annual street overlay costs and
anticipated project levy and bonding for the special assessment portion of the
annual project costs.
The Equipment Replacement Plan serves to identify the City’s equipment needs on a long-term
basis and to provide a regular replacement schedule. The equipment purchases for the Fire, Police
and Public Works departments are processed through a revolving equipment fund. Equipment
purchases that are typically less than $10,000 are incorporated into the annual operating budgets
for the specific departments.
DRAFT
The Park Plan – identifies the new park capital improvements and the equipment replacement
demands for neighborhood parks.
The Facilities Management Plan identifies major repairs or improvements to all City-owned
buildings.
The Technology Plan identifies the hardware and major software needs for each department and
establishes a regular replacement schedule
The Enterprise Funds plans (Water, Sewer and Storm Water) identify the amount of capital
necessary for infrastructure replacements and improvements needed to supply water to the city,
collect and discharge sanitary waste, and treat stormwater discharge in the city.
DRAFT
2027 through 2031
Capital Improvement Plan
Prior Lake, MN Department Summary
Department 2027 2028 2029 2030 2031 Total
Building Inspection 60,000 120,000 180,000
Cable 140,000 140,000
Central Garage 20,000 20,000 20,000 35,000 20,000 115,000
Elections 115,000 115,000
Engineering 60,000 60,000
Facilities 2,014,760 4,227,260 2,490,500 2,414,500 3,231,000 14,378,020
Fire 1,669,540 1,000,000 20,000 87,500 2,777,040
Parks 546,500 204,000 273,500 40,500 368,500 1,433,000
Parks: Projects 2,230,000 4,136,000 877,000 283,500 290,000 7,816,500
Police 184,600 660,000 362,000 355,000 405,000 1,966,600
Streets 765,000 851,000 272,000 615,500 810,000 3,313,500
Streets: Overlay 106,000 2,394,000 2,500,000
Streets: Transportation 8,472,000 8,887,000 13,198,000 3,104,000 995,000 34,656,000
Technology 38,000 16,000 10,000 21,000 85,000
Trunk Fund 1,500,000 2,000,000 3,500,000
Utility: Sewer Fund 1,527,000 2,021,000 2,011,000 2,381,000 1,637,500 9,577,500
Utility: Storm Water Fund 585,000 607,000 459,000 481,000 644,000 2,776,000
Utility: Water Fund 710,000 928,000 788,500 227,000 1,685,000 4,338,500
GRAND TOTAL 20,402,400 25,663,260 20,841,500 12,478,500 10,342,000 89,727,660
Produced Using Plan-It CIP Software
1
DRAFT
2027 through 2031
Capital Improvement Plan
Prior Lake, MN Funding Source Summary
Source 2027 2028 2029 2030 2031 Total
Cable Franchise Fund (F210) 70,000 70,000
Capital Park Fund (F225) 750,000 550,000 1,300,000
City MSA Funds 600,000 106,000 3,000,000 500,000 319,000 4,525,000
Construction Fund (F501) 397,000 397,000
County 250,000 250,000
Developer - Upfront Costs 325,000 325,000
Facilities Management Fund (F440) 1,514,760 436,760 432,000 500,000 731,000 3,614,520
Federal Grant 850,000 850,000
Franchise Fees 1,211,000 1,600,000 1,400,000 812,000 5,023,000
General Fund (F101) 108,000 16,000 10,000 136,000 270,000
G.O. Capital Equipment Bonds 2,259,540 1,483,000 3,742,540
G.O. Capital Imp Bonds - 2028 7,196,500 7,196,500
G.O. Capital Improvement Bonds 500,000 2,058,500 1,914,500 2,500,000 6,973,000
G.O. SA Bonds - Overlay Assessment 685,000 685,000
G.O. SA Bonds - Project Assessment 862,000 646,000 1,913,000 3,421,000
G.O. SA Bonds - Project Levy 1,948,000 2,081,000 2,181,000 1,529,000 676,000 8,415,000
Grants/Other Contrib. 240,000 240,000
Revolving Equip. Fund (F410) 926,100 1,052,000 1,007,500 1,193,500 1,650,166 5,829,266
Revolving Park Equip. Fund (F430) 630,000 730,000 327,000 283,500 290,000 2,260,500
SMSC Cost Sharing 1,000,000 1,000,000
Storm Trunk Fund 762,000 762,000
Trunk Reserve Fund (F502) 1,500,000 2,000,000 3,500,000
Utility: Sewer Fund (F604) 2,586,000 3,554,000 4,131,000 1,911,250 1,674,167 13,856,417
Utility: Storm Water Fund (F602) 1,174,000 1,280,000 1,396,000 721,000 644,000 5,215,000
Utility: Water Fund (F601) 1,911,000 3,482,000 2,435,500 456,750 1,721,667 10,006,917
GRAND TOTAL 20,402,400 25,663,260 20,841,500 12,478,500 10,342,000 89,727,660
Produced Using Plan-It CIP Software
2
DRAFT
2027 through 2031
Permanent Imp Revolving Fund (450)
Prior Lake, MN Projects By Category
Category Project # 2027 2028 2029 2030 2031 Total
Streets: Street Overlay
Adelmann St Mill and Overlay PIR30-000001 517,000 517,000
Cleary Lake Area Mill and Overlay PIR34-000003 459,000 459,000
CR 42 M&O PIR28-000001 106,000 106,000
Fish Point Mill and Overlay PIR30-000002 1,418,000 1,418,000
Streets: Street Overlay Total 0 106,000 0 2,394,000 0 2,500,000
GRAND TOTAL 0 106,000 0 2,394,000 0 2,500,000
Produced Using Plan-It CIP Software
3.1
DRAFT
2027 through 2031
Permanent Imp Revolving Fund (450)
Prior Lake, MN Projects & Funding Sources By Department
Department Project # 2027 2028 2029 2030 2031 Total
Streets: Overlay
Adelmann St Mill and Overlay PIR30-000001 0 0 0 517,000 0 517,000
Franchise Fees 295,000 295,000
G.O. SA Bonds - Overlay Assessment 222,000 222,000
Cleary Lake Area Mill and Overlay PIR34-000003 0 0 0 459,000 0 459,000
Construction Fund (F501) 397,000 397,000
G.O. SA Bonds - Overlay Assessment 62,000 62,000
CR 42 M&O PIR28-000001 0 106,000 0 0 0 106,000
City MSA Funds 106,000 106,000
Fish Point Mill and Overlay PIR30-000002 0 0 0 1,418,000 0 1,418,000
City MSA Funds 500,000 500,000
Franchise Fees 517,000 517,000
G.O. SA Bonds - Overlay Assessment 401,000 401,000
Streets: Overlay Total 0 106,000 0 2,394,000 0 2,500,000
GRAND TOTAL 0 106,000 0 2,394,000 0 2,500,000
Produced Using Plan-It CIP Software
3.2
DRAFT
2027 through 2031
Permanent Imp Revolving Fund (450)
Prior Lake, MN Funding Source Summary
Source 2027 2028 2029 2030 2031 Total
City MSA Funds 106,000 500,000 606,000
Construction Fund (F501) 397,000 397,000
Franchise Fees 812,000 812,000
G.O. SA Bonds - Overlay Assessment 685,000 685,000
GRAND TOTAL 0 106,000 0 2,394,000 0 2,500,000
Produced Using Plan-It CIP Software
3.3
DRAFT
CITY OF PRIOR LAKE
PIR Revolving Fund F450
2027 2028 2029 2030 2031
Projected Projected Projected Projected Projected
REVENUE AND OTHER SOURCES
Special assessments 202,839 193,883 184,927 242,398 155,659
Intergovernmental MSA - - - - -
Investment income 36,600 20,000 20,000 20,000 20,000
Bonds issued (incl prem/disc) assessment portion - - - 710,000 -
Transfers in
Construction Fund (F501)- 400,000 - 1,709,000 -
Total Revenues and Other Fund Sources 239,439 613,883 204,927 2,681,398 175,659
EXPENDITURES AND OTHER USES
Capital Outlay - (106,000) - (2,394,000) -
Cost of issuance of bonds - -- (25,000) -
Transfers out to debt service funds (424,900) (425,500) (427,425) (52,825) (210,888)
Total Expenditures and Other Uses (424,900) (531,500) (427,425) (2,471,825) (210,888)
CHANGE IN FUND BALANCE (185,461) 82,383 (222,498) 209,573 (35,229)
Beginning Fund Balance 312,934 127,473 209,856 (12,642) 196,931
Ending Fund Balance 127,473 209,856 (12,642) 196,931 161,702
3.4
DRAFT
2027 through 2031
Construction Fund (501)
Prior Lake, MN Projects By Category
Category Project # 2027 2028 2029 2030 2031 Total
Streets: City Jurisdiction
Lords Street Bridge Rehab TRN24-000002 300,000 300,000
Frost Point Circle TRN25-000002 49,000 49,000
Northwood Phase 2 TRN27-000001 4,779,000 4,779,000
CSAH 17 Expansion TRN27-000002 211,000 211,000
Wilds Jeffers Sealcoat TRN27-000003 520,000 520,000
CR12 & CSAH 17 Intersection TRN27-000004 1,447,000 1,447,000
Green Heights TRN28-000001 657,000 7,772,000 8,429,000
Northwood Phase 3 TRN29-000001 202,000 404,000 4,781,000 5,387,000
Sunset Hills Area TRN29-000002 356,000 711,000 8,417,000 9,484,000
Berens Road Extension TRN30-000001 2,000,000 2,000,000
Raspberry Ridge Neighborhood TRN31-000001 308,000 308,000
Big Woods Trail (CR21) TRN31-000002 103,000 103,000
Big Woods Trail (CR82) TRN31-000003 216,000 216,000
Carriage Hills Coachman Recon TRN34-000001 159,000 319,000 478,000
180th St Paving TRN34-000002 945,000 945,000
Streets: City Jurisdiction Total 8,472,000 8,887,000 13,198,000 3,104,000 995,000 34,656,000
GRAND TOTAL 8,472,000 8,887,000 13,198,000 3,104,000 995,000 34,656,000
Produced Using Plan-It CIP Software
sm5
DRAFT
2027 through 2031
Construction Fund (501)
Prior Lake, MN Projects & Funding Sources By Department
Department Project # 2027 2028 2029 2030 2031 Total
Streets: Transportation
Lords Street Bridge Rehab TRN24-000002 300,000 0 0 0 0 300,000
Franchise Fees 60,000 60,000
Grants/Other Contrib. 240,000 240,000
Frost Point Circle TRN25-000002 0 0 0 0 49,000 49,000
G.O. SA Bonds - Project Levy 49,000 49,000
Northwood Phase 2 TRN27-000001 4,779,000 0 0 0 0 4,779,000
Franchise Fees 1,151,000 1,151,000
G.O. SA Bonds - Project Assessment 862,000 862,000
G.O. SA Bonds - Project Levy 254,000 254,000
Utility: Sewer Fund (F604) 1,059,000 1,059,000
Utility: Storm Water Fund (F602) 589,000 589,000
Utility: Water Fund (F601) 864,000 864,000
CSAH 17 Expansion TRN27-000002 211,000 0 0 0 0 211,000
City MSA Funds 150,000 150,000
G.O. SA Bonds - Project Levy 61,000 61,000
Wilds Jeffers Sealcoat TRN27-000003 520,000 0 0 0 0 520,000
G.O. SA Bonds - Project Levy 520,000 520,000
CR12 & CSAH 17 Intersection TRN27-000004 1,447,000 0 0 0 0 1,447,000
City MSA Funds 450,000 450,000
G.O. SA Bonds - Project Levy 100,000 100,000
Storm Trunk Fund 762,000 762,000
Utility: Water Fund (F601) 135,000 135,000
Green Heights TRN28-000001 657,000 7,772,000 0 0 0 8,429,000
Franchise Fees 1,600,000 1,600,000
G.O. SA Bonds - Project Assessment 646,000 646,000
G.O. SA Bonds - Project Levy 657,000 1,370,000 2,027,000
Utility: Sewer Fund (F604) 1,533,000 1,533,000
Utility: Storm Water Fund (F602) 473,000 473,000
Utility: Water Fund (F601) 2,150,000 2,150,000
Northwood Phase 3 TRN29-000001 202,000 404,000 4,781,000 0 0 5,387,000
City MSA Funds 1,900,000 1,900,000
G.O. SA Bonds - Project Assessment 825,000 825,000
G.O. SA Bonds - Project Levy 25,000 25,000
Utility: Sewer Fund (F604) 1,184,000 1,184,000
Utility: Storm Water Fund (F602) 269,000 269,000
Utility: Water Fund (F601) 202,000 404,000 578,000 1,184,000
Sunset Hills Area TRN29-000002 356,000 711,000 8,417,000 0 0 9,484,000
City MSA Funds 1,100,000 1,100,000
Franchise Fees 1,400,000 1,400,000
G.O. SA Bonds - Project Assessment 1,088,000 1,088,000
G.O. SA Bonds - Project Levy 356,000 711,000 2,156,000 3,223,000
Utility: Sewer Fund (F604) 936,000 936,000
Utility: Storm Water Fund (F602) 668,000 668,000
Utility: Water Fund (F601) 1,069,000 1,069,000
Berens Road Extension TRN30-000001 0 0 0 2,000,000 0 2,000,000
County 250,000 250,000
G.O. SA Bonds - Project Levy 750,000 750,000
SMSC Cost Sharing 1,000,000 1,000,000
Produced Using Plan-It CIP Software
3.6
DRAFT
Department Project # 2027 2028 2029 2030 2031 Total
Raspberry Ridge Neighborhood TRN31-000001 0 0 0 0 308,000 308,000
G.O. SA Bonds - Project Levy 308,000 308,000
Big Woods Trail (CR21) TRN31-000002 0 0 0 0 103,000 103,000
City MSA Funds 103,000 103,000
Big Woods Trail (CR82) TRN31-000003 0 0 0 0 216,000 216,000
City MSA Funds 216,000 216,000
Carriage Hills Coachman Recon TRN34-000001 0 0 0 159,000 319,000 478,000
G.O. SA Bonds - Project Levy 159,000 319,000 478,000
180th St Paving TRN34-000002 0 0 0 945,000 0 945,000
Developer - Upfront Costs 325,000 325,000
G.O. SA Bonds - Project Levy 620,000 620,000
Streets: Transportation Total 8,472,000 8,887,000 13,198,000 3,104,000 995,000 34,656,000
GRAND TOTAL 8,472,000 8,887,000 13,198,000 3,104,000 995,000 34,656,000
Produced Using Plan-It CIP Software
sm7
DRAFT
2027 through 2031
Construction Fund (501)
Prior Lake, MN Funding Source Summary
Source 2027 2028 2029 2030 2031 Total
City MSA Funds 600,000 3,000,000 319,000 3,919,000
County 250,000 250,000
Developer - Upfront Costs 325,000 325,000
Franchise Fees 1,211,000 1,600,000 1,400,000 4,211,000
G.O. SA Bonds - Project Assessment 862,000 646,000 1,913,000 3,421,000
G.O. SA Bonds - Project Levy 1,948,000 2,081,000 2,181,000 1,529,000 676,000 8,415,000
Grants/Other Contrib. 240,000 240,000
SMSC Cost Sharing 1,000,000 1,000,000
Storm Trunk Fund 762,000 762,000
Utility: Sewer Fund (F604) 1,059,000 1,533,000 2,120,000 4,712,000
Utility: Storm Water Fund (F602) 589,000 473,000 937,000 1,999,000
Utility: Water Fund (F601) 1,201,000 2,554,000 1,647,000 5,402,000
GRAND TOTAL 8,472,000 8,887,000 13,198,000 3,104,000 995,000 34,656,000
Produced Using Plan-It CIP Software
3.8
DRAFT
CITY OF PRIOR LAKE
Construction Fund F501
2027 2028 2029 2030 2031
Projected Projected Projected Projected Projected
REVENUE AND OTHER SOURCES
Franchise fees 1,302,000 1,478,000 1,488,000 1,499,000 1,702,000
Intergovernmental 240,000 - - 1,250,000 -
Intergovernmental MSA 1,090,000 1,106,400 1,123,000 1,139,800 1,156,900
Investment income 56,700 50,000 50,000 50,000 50,000
Other financing sources - - - 325,000 -
Bonds issued (incl prem/disc) city portion 2,033,000 2,144,338 2,245,460 1,575,000 695,000
Bonds issued (incl prem/disc) assessment portion 862,000 665,662 1,969,540 - -
Transfers in
Water Fund (F601)1,201,000 2,554,000 2,253,000 - -
Water Quality Fund (F602)589,000 473,000 937,000 - -
Sewer Fund (F604)1,059,000 1,533,000 2,120,000 - -
Other Funds 762,000 - - - -
Total Revenues and Other Fund Sources 9,194,700 10,004,400 12,186,000 5,838,800 3,603,900
EXPENDITURES AND OTHER USES
Capital Outlay (8,472,000) (8,887,000) (13,198,000) (3,104,000) (995,000)
Cost of issuance of bonds (85,000) (83,000) (121,000) (46,000) (19,000)
Paid to General Fund for engineering (185,000) (185,000) (185,000) (185,000) (185,000)
Transfers out to PIR Fund (F450)-(400,000) - (1,709,000) -
Total Expenditures and Other Uses (8,742,000) (9,555,000) (13,504,000) (5,044,000) (1,199,000)
CHANGE IN FUND BALANCE 452,700 449,400 (1,318,000) 794,800 2,404,900
Beginning Fund Balance 550,199 1,002,899 1,452,299 134,299 929,099
Ending Fund Balance 1,002,899 1,452,299 134,299 929,099 3,333,999
3.9
DRAFT
CAMPBELL
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made by the City of Prior Lake regarding specific accuracy or completeness.
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3.1
DRAFT
CITY OF PRIOR LAKE, MN
2027 to 2031 STREET RECONSTRUCTION PLAN
AS OF AUGUST 12, 2026
3.11
DRAFT
City of Prior Lake
2027-2031 Street Reconstruction Plan
Page 2 of 4
City of Prior Lake, MN
2027 to 2031 Street Reconstruction Plan
I.Introduction
The City of Prior Lake (the “City”) historically has conducted street maintenance and
reconstruction as part of its annual operational budget or as part of a street improvement
capital improvement project. The maintenance and reconstruction have included seal
coating, mill and overlay, complete reconstruction, and other such items incidental to the
maintenance of city streets. The City finds that it does not always have the resources for
reconstructing streets as quickly as required, due to increased need for major
reconstruction projects.
Due to this fact, the City has in the past and plans to in the future finance a portion of its
street reconstruction through the issuance of General Obligation Street Reconstruction
Bonds.
II.Statutory Authority and Requirements
Minnesota Statutes, Section 475.58, Subdivision 3b (the “Act”) authorizes Minnesota cities to
adopt a Street Reconstruction Plan. The Plan must cover at least a five-year period and set
forth the streets to be reconstructed, the estimated costs, and any planned reconstruction of
other streets in the municipality over the next five years.
Street Reconstruction Bonds can be used to finance the reconstruction and bituminous
overlay of existing city streets. Eligible improvements may include turn lanes, bicycle lanes,
sidewalks, paths, and other improvements having a substantial public safety function,
realignments, other modifications to intersect with state and county roads, and the local
share of state and county road projects. Except in the case of turn lanes, bicycle lanes,
sidewalks, paths, and other safety improvements, realignments, intersection modifications,
and the local share of state and county road projects, street reconstruction does not include
the portion of project cost allocable to widening a street or adding curbs and gutters where
none previously existed. Street Reconstruction Bonds are subject to the debt limit.
The Act sets forth specific requirements for the issuance of Street Reconstruction Bonds,
which are as follows:
•The projects financed under this authority must be described in a street reconstruction
plan, as described above.
•The city must publish notice of and hold a public hearing on the proposed plan and
the related issuance of bonds. The notice must be published at least ten days but not
more than 28 days prior to the hearing date.
•The Plan must be approved by a vote of a two-thirds majority of the members of the
governing body present at the meeting following a public hearing.
3.1
DRAFT
City of Prior Lake
2027-2031 Street Reconstruction Plan
Page 3 of 4
•The issuance of bonds is subject to a reverse referendum. An election is required if
voters equal to 5% of the votes cast in the last municipal general election file a petition
with the city clerk within 30 days of the public hearing. If the city decides not to
undertake an election, it may not propose the issuance of Street Reconstruction Bonds
for the same purpose and in the same amount for a period of 365 days from the date of
receipt of the petition. If the question of issuing the bonds is submitted and not
approved by the voters, the provisions of section 475.58, subdivision 1a, shall apply
(no resubmission for same purpose/amount for 180 days).
III.History and Existing Street Reconstruction Bonds
At the time of the approval of the Plan, the following Street Reconstruction (issued
under Chapter 475) were outstanding:
IV.Net Debt Limits
Minnesota Statutes Section 475.53, Subd. 1 states that no municipality, except a school
district or a city of the first class, shall incur or be subject to a net debt in excess of three
percent of the market value of taxable property in the municipality.
Bonds issued under the authority granted by this Street Reconstruction Plan are subject to
the net debt limit restriction described above. The net debt capacity for the City at time of
approval of the Original Plan is shown below under Statutory Debt Limit.
Statutory Debt Limit
Minnesota Statutes, Section 475.53 states that a city or county may not incur or be subject to
a net debt in excess of three percent (3%) of its estimated market value. Net debt is, with
limited exceptions, debt paid solely from ad valorem taxes.
Bond Issue Amount Outstanding
$3,505,000 G.O. Bonds, Series 2016A $40,000
$8,270,000 G.O. Bonds, Series 2018A 450,000
$2,065,000 G.O. Bonds, Series 2019A 680,000
$5,760,000 G.O. Bonds, Series 2021A 1,445,000
$1,620,000 G.O. Bonds, Series 2023A 350,000
Total Outstanding Street Reconstruction Bonds $ 2,965,000
3.1
DRAFT
City of Prior Lake
2027-2031 Street Reconstruction Plan
Page 4 of 4
At time of approval of the proposed Plan the City’s Statutory Debt Limit is as follows:
Computation of Legal Debt Margin as of July 1, 2026:
2026 Estimated Market Value $ 5,929,639,937
Multiplied by 3% x .03
Statutory Debt Limit $ 177,889,198
Outstanding debt applicable to debt limit:
$3,630,000 G.O. Bonds, Series 2016A $ 40,000
$8,720,000 G.O. Bonds, Series 2018A 775,000
$2,065,000 G.O. Bonds, Series 2019A 765,000
$5,760,000 G.O. Bonds, Series 2021A 3,305,000
$5,870,000 G.O. Bonds, Series 2021B 2,625,000
$1,620,000 G.O. Bonds, Series 2023A 350,000
Less outstanding debt applicable to debt limit: $ 7,860,000
Legal debt margin $ 170,029,198
The Plan provides for the issuance of a not to exceed amount of $14,040,000 in General
Obligation Street Reconstruction Bonds between January 1, 2027 and December 31, 2031.
This amount includes estimated cost of issuance of bonds, capitalized interest and rounding.
The proposed bond issuance is within the current City’s Legal Debt Margin, as of the date of
adoption of the Plan.
V.Proposed Street Reconstruction and Cost Estimate
The Plan is detailed in Table A. The City reserves the right to adjust the amount of annual
spending between years provided the overall not to exceed amount in the Plan is not
increased.
3.1
DRAFT
CITY OF PRIOR LAKE 2027-2031
STREET RECONSTRUCTION PLAN AMOUNTS
January 1, 2027 through December 31, 2027
Northwood Street Recon Project - Phase 2 1,900,000$
CSAH 17 Expansion 70,000
CR 12 & CSAH 17 Intersection 110,000
TOTAL 2027 2,080,000$
January 1, 2028 through December 31, 2028
Green Heights Area 3,310,000$
TOTAL 2028 3,310,000$
January 1, 2029 through December 31, 2029
Sunset Hills Area 4,750,000$
Northwood Street Recon Project - Phase 3 940,000
TOTAL 2029 5,690,000$
January 1, 2030 through December 31, 2030
180th St Paving 690,000$
Berens Road Extension 830,000
Adelmann St Mill and Overlay 250,000
Fish Point Mill and Overlay 450,000
Clearly Lake Area Mill and Overlay 70,000
TOTAL 2030 2,290,000$
January 1, 2031 through December 31, 2031
None -$
TOTAL 2031 -$
GRAND TOTAL (1/1/2027 THROUGH 12/31/2031)13,370,000
Bond Issuance Costs, Capitalized Interest, and Rounding 670,000
GRAND TOTAL 14,040,000
TABLE A
3.15
DRAFT
2027 through 2031
Revolving Equipment Fund (410)
Prior Lake, MN Projects By Department
Department Project # 2027 2028 2029 2030 2031 Total
Building Inspection
1/2 Ton Pickup 6394 60,000 60,000
Pickup 1/2 Ton 6395 60,000 60,000
Truck 1/2 Ton 6398 60,000 60,000
Building Inspection Total 0 0 0 60,000 120,000 180,000
Central Garage
Plasma Cutter 8921 4,500 4,500
Refurbishing REFUR 20,000 20,000 20,000 20,000 20,000 100,000
Welder 8920 10,500 10,500
Central Garage Total 20,000 20,000 20,000 35,000 20,000 115,000
Engineering
Truck-1 Ton 6399 60,000 60,000
Engineering Total 0 0 60,000 0 0 60,000
Fire
Fire Ladder Truck 9280 1,369,540 1,369,540
Fire Radios FD-RADIOS 67,500 67,500
Fire Truck Pumper 9222 300,000 1,000,000 1,300,000
Pressure Washer - FS1 8002 20,000 20,000
Pressure Washer - FS2 8003 20,000 20,000
Fire Total 1,669,540 1,000,000 20,000 87,500 0 2,777,040
Parks
Aerator 8262 9,000 9,000
Aerovator 8265 16,000 16,000
Electric Scissor Lift 8551 25,000 25,000
Fertilizer Spreader 8267 8,500 8,500
Forklift 8558 46,500 46,500
Mower-16FT 8504 175,000 175,000
Mower-6FT 8524 62,000 62,000
Mower-6FT 8523 68,000 68,000
Mower-6FT 8526 62,000 62,000
Mower-6FT 8525 62,000 62,000
Mower Walk Behind 8511 8,500 8,500
Pickup 1/2 Ton 8541 60,000 60,000
Pick-Up 1/2 Ton 8319 60,000 60,000
Scissor Lift Drop Deck Trailer 8552 16,000 16,000
Skid Steer Combo Plane 8279 5,000 5,000
Skid Steer - Tracks 8502 87,000 87,000
Skid Steer - Wheels 8501 113,000 113,000
Sod Cutter 8512 6,000 6,000
Stump Grinder 8272 12,000 12,000
Tiller 8268 9,000 9,000
Top Dresser 8273 20,000 20,000
Tractor 8505 150,000 150,000
Tractor Snow Blower 8270 14,500 14,500
Trail Blower 8278 7,500 7,500
Trailer 8531 17,500 17,500
Trailer-Small (IRRIG) 8554 8,000 8,000
Truck 1/2 Ton - Sanitation 8508 115,000 115,000
Produced Using Plan-It CIP Software
4.1
DRAFT
Department Project # 2027 2028 2029 2030 2031 Total
Truck 1 Ton Dump 8546 120,000 120,000
Utility Vehicle 8536 35,000 35,000
Utility Vehicle-Field Groomer 8537 35,000 35,000
Parks Total 546,500 204,000 273,500 40,500 368,500 1,433,000
Police
2007 Siren@1500 Spring Lake Cir.,
Jordan PD-Siren15 46,600 46,600
Chief 7131 55,000 55,000
Drug Task Force Car 7298 55,000 55,000
Investigator 7134 55,000 55,000
Investigator 7137 55,000 55,000
Polaris XP 1000 Crew 7138 42,000 42,000
Speed Sign Trailer 7200 15,000 15,000
Squad New 7116 71,000 71,000
Squads-Marked Multiple 1 292,000 292,000
Squads-Marked Multiple 3 284,000 308,000 592,000
Squads-Marked Multiple 2 138,000 300,000 438,000
SWAT Van 7133 250,000 250,000
Police Total 184,600 660,000 362,000 355,000 405,000 1,966,600
Streets
Asphalt Roller 8474 58,000 58,000
F350 Super Cab 4X4 8494 65,000 65,000
Generator - MC GEN-MC 130,000 130,000
Hook Truck 8521 180,000 235,000 415,000
Hot Patcher 8429 68,000 68,000
Message Board 8275 16,000 16,000
Pickup 1.5 Ton Dump 8550 150,000 150,000
Pressure Washer - Portable 8001 20,000 20,000
Pressure Washer - Wash Bay 8000 20,000 20,000
Skid Steer 8781 110,000 110,000
Skid Steer Box Broom 8255 8,000 8,000
Skid Steer Jack Hammer 8280 10,000 10,000
Skid Steer Post Hole Auger 8252 5,000 5,000
Skid Steer Rock Bucket 8251 2,500 2,500
Street Sweeper-Regenerative 8471 400,000 400,000
Trailer 8482 18,000 18,000
Trailer 8479 25,000 25,000
Truck 1.5 Ton Dump 8459 150,000 150,000
Truck-1.5 Ton-Dump 8452 145,000 145,000
Truck-1 Ton 8453 65,000 65,000
Truck-5 Ton-Dump 8468 185,000 230,000 415,000
Truck-5 Ton-Dump 8469 155,000 233,000 388,000
Truck 5 Ton Dump Single Axle 8518 185,000 185,000
Truck-5 Ton-Dump-Single Axle 8467 225,000 225,000
Truck-9 Ton-Dump-Tandem 8464 220,000 220,000
Streets Total 765,000 851,000 272,000 615,500 810,000 3,313,500
GRAND TOTAL 3,185,640 2,735,000 1,007,500 1,193,500 1,723,500 9,845,140
Produced Using Plan-It CIP Software
4.2
DRAFT
2027 through 2031
Revolving Equipment Fund (410)
Prior Lake, MN Projects & Funding Sources By Department
Department Project # 2027 2028 2029 2030 2031 Total
Building Inspection
1/2 Ton Pickup 6394 0 0 0 0 60,000 60,000
Revolving Equip. Fund (F410) 60,000 60,000
Pickup 1/2 Ton 6395 0 0 0 0 60,000 60,000
Revolving Equip. Fund (F410) 60,000 60,000
Truck 1/2 Ton 6398 0 0 0 60,000 0 60,000
Revolving Equip. Fund (F410) 60,000 60,000
Building Inspection Total 0 0 0 60,000 120,000 180,000
Central Garage
Plasma Cutter 8921 0 0 0 4,500 0 4,500
Revolving Equip. Fund (F410) 4,500 4,500
Refurbishing REFUR 20,000 20,000 20,000 20,000 20,000 100,000
Revolving Equip. Fund (F410) 20,000 20,000 20,000 20,000 20,000 100,000
Welder 8920 0 0 0 10,500 0 10,500
Revolving Equip. Fund (F410) 10,500 10,500
Central Garage Total 20,000 20,000 20,000 35,000 20,000 115,000
Engineering
Truck-1 Ton 6399 0 0 60,000 0 0 60,000
Revolving Equip. Fund (F410) 60,000 60,000
Engineering Total 0 0 60,000 0 0 60,000
Fire
Fire Ladder Truck 9280 1,369,540 0 0 0 0 1,369,540
G.O. Capital Equipment Bonds 1,369,540 1,369,540
Fire Radios FD-RADIOS 0 0 0 67,500 0 67,500
Revolving Equip. Fund (F410) 67,500 67,500
Fire Truck Pumper 9222 300,000 1,000,000 0 0 0 1,300,000
G.O. Capital Equipment Bonds 300,000 1,000,000 1,300,000
Pressure Washer - FS1 8002 0 0 20,000 0 0 20,000
Revolving Equip. Fund (F410) 20,000 20,000
Pressure Washer - FS2 8003 0 0 0 20,000 0 20,000
Revolving Equip. Fund (F410) 20,000 20,000
Fire Total 1,669,540 1,000,000 20,000 87,500 0 2,777,040
Parks
Aerator 8262 0 0 0 0 9,000 9,000
Revolving Equip. Fund (F410) 9,000 9,000
Aerovator 8265 0 0 16,000 0 0 16,000
Revolving Equip. Fund (F410) 16,000 16,000
Electric Scissor Lift 8551 25,000 0 0 0 0 25,000
Revolving Equip. Fund (F410) 25,000 25,000
Fertilizer Spreader 8267 0 8,500 0 0 0 8,500
Revolving Equip. Fund (F410) 8,500 8,500
Forklift 8558 46,500 0 0 0 0 46,500
Revolving Equip. Fund (F410) 46,500 46,500
Mower-16FT 8504 175,000 0 0 0 0 175,000
Revolving Equip. Fund (F410) 175,000 175,000
Mower-6FT 8523 0 68,000 0 0 0 68,000
Revolving Equip. Fund (F410) 68,000 68,000
Mower-6FT 8524 0 0 0 0 62,000 62,000
Produced Using Plan-It CIP Software
4.3
DRAFT
Department Project # 2027 2028 2029 2030 2031 Total
Revolving Equip. Fund (F410) 62,000 62,000
Mower-6FT 8526 0 0 0 0 62,000 62,000
Revolving Equip. Fund (F410) 62,000 62,000
Mower-6FT 8525 0 0 0 0 62,000 62,000
Revolving Equip. Fund (F410) 62,000 62,000
Mower Walk Behind 8511 0 0 8,500 0 0 8,500
Revolving Equip. Fund (F410) 8,500 8,500
Pickup 1/2 Ton 8541 0 0 60,000 0 0 60,000
Revolving Equip. Fund (F410) 60,000 60,000
Pick-Up 1/2 Ton 8319 0 0 60,000 0 0 60,000
Revolving Equip. Fund (F410) 60,000 60,000
Scissor Lift Drop Deck Trailer 8552 16,000 0 0 0 0 16,000
Revolving Equip. Fund (F410) 16,000 16,000
Skid Steer Combo Plane 8279 0 0 0 5,000 0 5,000
Revolving Equip. Fund (F410) 5,000 5,000
Skid Steer - Tracks 8502 87,000 0 0 0 0 87,000
Revolving Equip. Fund (F410) 87,000 87,000
Skid Steer - Wheels 8501 0 113,000 0 0 0 113,000
Revolving Equip. Fund (F410) 113,000 113,000
Sod Cutter 8512 0 0 0 0 6,000 6,000
Revolving Equip. Fund (F410) 6,000 6,000
Stump Grinder 8272 12,000 0 0 0 0 12,000
Revolving Equip. Fund (F410) 12,000 12,000
Tiller 8268 0 0 9,000 0 0 9,000
Revolving Equip. Fund (F410) 9,000 9,000
Top Dresser 8273 0 0 0 20,000 0 20,000
Revolving Equip. Fund (F410) 20,000 20,000
Tractor 8505 0 0 0 0 150,000 150,000
Revolving Equip. Fund (F410) 150,000 150,000
Tractor Snow Blower 8270 0 14,500 0 0 0 14,500
Revolving Equip. Fund (F410) 14,500 14,500
Trail Blower 8278 0 0 0 7,500 0 7,500
Revolving Equip. Fund (F410) 7,500 7,500
Trailer 8531 0 0 0 0 17,500 17,500
Revolving Equip. Fund (F410) 17,500 17,500
Trailer-Small (IRRIG) 8554 0 0 0 8,000 0 8,000
Revolving Equip. Fund (F410) 8,000 8,000
Truck 1/2 Ton - Sanitation 8508 115,000 0 0 0 0 115,000
Revolving Equip. Fund (F410) 115,000 115,000
Truck 1 Ton Dump 8546 0 0 120,000 0 0 120,000
Revolving Equip. Fund (F410) 120,000 120,000
Utility Vehicle 8536 35,000 0 0 0 0 35,000
Revolving Equip. Fund (F410) 35,000 35,000
Utility Vehicle-Field Groomer 8537 35,000 0 0 0 0 35,000
Revolving Equip. Fund (F410) 35,000 35,000
Parks Total 546,500 204,000 273,500 40,500 368,500 1,433,000
Police
2007 Siren@1500 Spring Lake Cir.,
Jordan PD-Siren15 46,600 0 0 0 0 46,600
Revolving Equip. Fund (F410) 46,600 46,600
Chief 7131 0 55,000 0 0 0 55,000
Revolving Equip. Fund (F410) 55,000 55,000
Drug Task Force Car 7298 0 0 55,000 0 0 55,000
Revolving Equip. Fund (F410) 55,000 55,000
Investigator 7134 0 0 0 55,000 0 55,000
Revolving Equip. Fund (F410) 55,000 55,000
Produced Using Plan-It CIP Software
4.4
DRAFT
Department Project # 2027 2028 2029 2030 2031 Total
Investigator 7137 0 0 0 0 55,000 55,000
Revolving Equip. Fund (F410) 55,000 55,000
Polaris XP 1000 Crew 7138 0 0 0 0 42,000 42,000
Revolving Equip. Fund (F410) 42,000 42,000
Speed Sign Trailer 7200 0 0 15,000 0 0 15,000
Revolving Equip. Fund (F410) 15,000 15,000
Squad New 7116 0 71,000 0 0 0 71,000
Revolving Equip. Fund (F410) 71,000 71,000
Squads-Marked Multiple 1 0 0 292,000 0 0 292,000
Revolving Equip. Fund (F410) 292,000 292,000
Squads-Marked Multiple 2 138,000 0 0 300,000 0 438,000
Revolving Equip. Fund (F410) 138,000 300,000 438,000
Squads-Marked Multiple 3 0 284,000 0 0 308,000 592,000
Revolving Equip. Fund (F410) 284,000 308,000 592,000
SWAT Van 7133 0 250,000 0 0 0 250,000
G.O. Capital Equipment Bonds 250,000 250,000
Police Total 184,600 660,000 362,000 355,000 405,000 1,966,600
Streets
Asphalt Roller 8474 0 0 58,000 0 0 58,000
Revolving Equip. Fund (F410) 58,000 58,000
F350 Super Cab 4X4 8494 0 0 0 0 65,000 65,000
Revolving Equip. Fund (F410) 65,000 65,000
Generator - MC GEN-MC 0 0 0 0 130,000 130,000
Revolving Equip. Fund (F410) 130,000 130,000
Hook Truck 8521 0 0 180,000 235,000 0 415,000
Revolving Equip. Fund (F410) 180,000 235,000 415,000
Hot Patcher 8429 0 68,000 0 0 0 68,000
Revolving Equip. Fund (F410) 68,000 68,000
Message Board 8275 0 0 16,000 0 0 16,000
Revolving Equip. Fund (F410) 16,000 16,000
Pickup 1.5 Ton Dump 8550 0 150,000 0 0 0 150,000
Revolving Equip. Fund (F410) 150,000 150,000
Pressure Washer - Portable 8001 0 0 0 0 20,000 20,000
Revolving Equip. Fund (F410) 20,000 20,000
Pressure Washer - Wash Bay 8000 20,000 0 0 0 0 20,000
Revolving Equip. Fund (F410) 20,000 20,000
Skid Steer 8781 0 0 0 0 110,000 110,000
Revolving Equip. Fund (F410) 36,666 36,666
Utility: Sewer Fund (F604) 36,667 36,667
Utility: Water Fund (F601) 36,667 36,667
Skid Steer Box Broom 8255 0 0 0 8,000 0 8,000
Revolving Equip. Fund (F410) 8,000 8,000
Skid Steer Jack Hammer 8280 0 0 0 10,000 0 10,000
Revolving Equip. Fund (F410) 10,000 10,000
Skid Steer Post Hole Auger 8252 0 0 0 0 5,000 5,000
Revolving Equip. Fund (F410) 5,000 5,000
Skid Steer Rock Bucket 8251 0 0 0 2,500 0 2,500
Revolving Equip. Fund (F410) 2,500 2,500
Street Sweeper-Regenerative 8471 0 400,000 0 0 0 400,000
Revolving Equip. Fund (F410) 200,000 200,000
Utility: Storm Water Fund (F602) 200,000 200,000
Trailer 8482 0 0 18,000 0 0 18,000
Revolving Equip. Fund (F410) 18,000 18,000
Trailer 8479 0 0 0 25,000 0 25,000
Revolving Equip. Fund (F410) 25,000 25,000
Produced Using Plan-It CIP Software
4.5
DRAFT
Department Project # 2027 2028 2029 2030 2031 Total
Truck 1.5 Ton Dump 8459 0 0 0 150,000 0 150,000
Revolving Equip. Fund (F410) 150,000 150,000
Truck-1.5 Ton-Dump 8452 145,000 0 0 0 0 145,000
G.O. Capital Equipment Bonds 145,000 145,000
Truck-1 Ton 8453 0 0 0 0 65,000 65,000
Revolving Equip. Fund (F410) 65,000 65,000
Truck-5 Ton-Dump 8468 0 0 0 185,000 230,000 415,000
Revolving Equip. Fund (F410) 185,000 230,000 415,000
Truck-5 Ton-Dump 8469 155,000 233,000 0 0 0 388,000
G.O. Capital Equipment Bonds 233,000 233,000
Revolving Equip. Fund (F410) 155,000 155,000
Truck 5 Ton Dump Single Axle 8518 0 0 0 0 185,000 185,000
Revolving Equip. Fund (F410) 185,000 185,000
Truck-5 Ton-Dump-Single Axle 8467 225,000 0 0 0 0 225,000
G.O. Capital Equipment Bonds 225,000 225,000
Truck-9 Ton-Dump-Tandem 8464 220,000 0 0 0 0 220,000
G.O. Capital Equipment Bonds 220,000 220,000
Streets Total 765,000 851,000 272,000 615,500 810,000 3,313,500
GRAND TOTAL 3,185,640 2,735,000 1,007,500 1,193,500 1,723,500 9,845,140
Produced Using Plan-It CIP Software
4.6
DRAFT
2027 through 2031
Revolving Equipment Fund (410)
Prior Lake, MN Funding Source Summary
Source 2027 2028 2029 2030 2031 Total
G.O. Capital Equipment Bonds 2,259,540 1,483,000 3,742,540
Revolving Equip. Fund (F410) 926,100 1,052,000 1,007,500 1,193,500 1,650,166 5,829,266
Utility: Sewer Fund (F604) 36,667 36,667
Utility: Storm Water Fund (F602) 200,000 200,000
Utility: Water Fund (F601) 36,667 36,667
GRAND TOTAL 3,185,640 2,735,000 1,007,500 1,193,500 1,723,500 9,845,140
Produced Using Plan-It CIP Software
4.7
DRAFT
CITY OF PRIOR LAKE
Revolving Equip Fund F410
2027 2028 2029 2030 2031
Projected Projected Projected Projected Projected
REVENUE AND OTHER SOURCES
Taxes 1,025,000 1,075,000 1,075,000 1,150,000 1,200,000
Investment income 16,400 20,000 20,000 20,000 20,000
Bonds issued (incl prem/disc) city portion 2,265,000 1,545,000 - - -
Transfers in
Water Fund (F601)- - - - 36,667
Water Quality Fund (F602 - 200,000 - - -
Sewer Fund (F604)- -- - 36,667
Sale of capital assets - -- - -
Total Revenues and Other Fund Sources 3,306,400 2,840,000 1,095,000 1,170,000 1,293,334
EXPENDITURES AND OTHER USES
Capital Outlay (3,185,640) (2,735,000) (1,007,500) (1,193,500) (1,723,500)
Cost of issuance of bonds (65,000) (45,000) - - -
Total Expenditures and Other Uses (3,250,640) (2,780,000) (1,007,500) (1,193,500) (1,723,500)
CHANGE IN FUND BALANCE 55,760 60,000 87,500 (23,500) (430,166)
Beginning Fund Balance 383,154 438,914 498,914 586,414 562,914
Ending Fund Balance 438,914 498,914 586,414 562,914 132,748
4.8
DRAFT
2027 through 2031
Capital Parks (225)
Prior Lake, MN Projects By Category
Category Project # 2027 2028 2029 2030 2031 Total
New Park Development
Future Neighborhood Park
Development 225-001 550,000 550,000
TH 13 Trail Segment 2 (150th St to
Candy Cove) PRK26-000001 1,600,000 1,600,000
New Park Development Total 1,600,000 0 550,000 0 0 2,150,000
GRAND TOTAL 1,600,000 0 550,000 0 0 2,150,000
Produced Using Plan-It CIP Software
5.1
DRAFT
2027 through 2031
Capital Parks (225)
Prior Lake, MN Projects & Funding Sources By Department
Department Project # 2027 2028 2029 2030 2031 Total
Parks: Projects
Future Neighborhood Park
Development 225-001 0 0 550,000 0 0 550,000
Capital Park Fund (F225) 550,000 550,000
TH 13 Trail Segment 2 (150th St to
Candy Cove) PRK26-000001 1,600,000 0 0 0 0 1,600,000
Capital Park Fund (F225) 750,000 750,000
Federal Grant 850,000 850,000
Parks: Projects Total 1,600,000 0 550,000 0 0 2,150,000
GRAND TOTAL 1,600,000 0 550,000 0 0 2,150,000
Produced Using Plan-It CIP Software
5.2
DRAFT
2027 through 2031
Capital Parks (225)
Prior Lake, MN Funding Source Summary
Source 2027 2028 2029 2030 2031 Total
Capital Park Fund (F225) 750,000 550,000 1,300,000
Federal Grant 850,000 850,000
GRAND TOTAL 1,600,000 0 550,000 0 0 2,150,000
Produced Using Plan-It CIP Software
5.3
DRAFT
CITY OF PRIOR LAKE
Capital Park Fund F225
2027 2028 2029 2030 2031
Projected Projected Projected Projected Projected
REVENUE AND OTHER SOURCES
Intergovernmental 850,000 - - - -
Charges for services 308,800 318,400 410,000 422,000 543,750
Lease income 30,267 32,000 32,000 32,000 32,000
Investment income 31,600 15,000 15,000 15,000 15,000
Total Revenues and Other Fund Sources 1,220,667 365,400 457,000 469,000 590,750
EXPENDITURES AND OTHER USES
Capital Outlay (1,600,000) - (550,000) - -
Other uses (5,600) (5,600) (5,600) (5,600) (5,600)
Total Expenditures and Other Uses (1,605,600) (5,600) (555,600) (5,600) (5,600)
CHANGE IN FUND BALANCE (384,933) 359,800 (98,600) 463,400 585,150
Beginning Fund Balance 1,077,636 692,703 1,052,503 953,903 1,417,303
Ending Fund Balance 692,703 1,052,503 953,903 1,417,303 2,002,453
5.4
DRAFT
2027 through 2031
Revolving Park Equipment Fund (430)
Prior Lake, MN Projects By Category
Category Project # 2027 2028 2029 2030 2031 Total
Park Replacement
Boudins BB Court Maintenance 430-006 20,000 20,000
Crystal Lake Fishing Pier 430-049 80,000 80,000
Eagle Brook BB Court Maintenance 430-072 15,000 15,000
Eagle Brook Picnic Shelter 430-073 30,000 30,000
Enclave BB Court Maintenance 430-050 15,000 15,000
Green Oaks BB Court Maintenance 430-075 10,000 10,000
Green Oaks Picnic Shelter 430-017 20,000 20,000
Howard Lake BB Court Maintenance 430-051 15,000 15,000
Jeffers Picnic Shelter 430-077 30,000 30,000
Knob Hill BB Court Maintenance 430-001 20,000 20,000
Memorial Backstop, Batters Eye, Cages,
Dugouts 430-056 265,000 265,000
Memorial BB Court Maintenance 430-004 22,000 22,000
Memorial Concession Building 430-057 250,000 250,000
Memorial Drinking Fountain 430-052 12,000 12,000
Memorial Parking Lots (2) 430-039 350,000 350,000
Memorial Windscreen 430-025 7,000 7,000
Misc Playground PLAY 250,000 250,000 250,000 250,000 250,000 1,250,000
Northwood Meadows BB Court
Maintenance 430-047 15,000 15,000
Oakland BB Court Maintenance 430-007 22,000 22,000
Ponds Parking Lots (4), Entrance Road 430-069 75,000 2,500,000 2,575,000
Ryan Backstop, Batters Eye, Cages,
Dugouts 430-059 250,000 250,000
Sand Point BB Court Maintenance 430-027 10,000 10,000
Sand Point Beach Renovation Study 430-030 100,000 100,000
Spring Lake Pickleball Courts 430-060 40,000 40,000
Timbercrest BB Court Maintenance 430-037 10,000 10,000
Watzls City Docks 430-043 150,000 150,000
Watzls Lighting 430-063 8,500 8,500
Wilds BB Court Maintenance 430-048 20,000 20,000
Wilds North BB Court Maintenance 430-010 15,000 15,000
Willows BB Court Maintenance 430-011 20,000 20,000
Woodridge Ballfield 430-054 20,000 20,000
Park Replacement Total 630,000 4,136,000 327,000 283,500 290,000 5,666,500
GRAND TOTAL 630,000 4,136,000 327,000 283,500 290,000 5,666,500
Produced Using Plan-It CIP Software
um5
DRAFT
2027 through 2031
Revolving Park Equipment Fund (430)
Prior Lake, MN Projects & Funding Sources By Department
Department Project # 2027 2028 2029 2030 2031 Total
Parks: Projects
Boudins BB Court Maintenance 430-006 0 0 20,000 0 0 20,000
Revolving Park Equip. Fund (F430) 20,000 20,000
Crystal Lake Fishing Pier 430-049 80,000 0 0 0 0 80,000
Revolving Park Equip. Fund (F430) 80,000 80,000
Eagle Brook BB Court Maintenance 430-072 15,000 0 0 0 0 15,000
Revolving Park Equip. Fund (F430) 15,000 15,000
Eagle Brook Picnic Shelter 430-073 30,000 0 0 0 0 30,000
Revolving Park Equip. Fund (F430) 30,000 30,000
Enclave BB Court Maintenance 430-050 15,000 0 0 0 0 15,000
Revolving Park Equip. Fund (F430) 15,000 15,000
Green Oaks BB Court Maintenance 430-075 0 0 0 0 10,000 10,000
Revolving Park Equip. Fund (F430) 10,000 10,000
Green Oaks Picnic Shelter 430-017 0 20,000 0 0 0 20,000
Revolving Park Equip. Fund (F430) 20,000 20,000
Howard Lake BB Court Maintenance 430-051 15,000 0 0 0 0 15,000
Revolving Park Equip. Fund (F430) 15,000 15,000
Jeffers Picnic Shelter 430-077 30,000 0 0 0 0 30,000
Revolving Park Equip. Fund (F430) 30,000 30,000
Knob Hill BB Court Maintenance 430-001 0 20,000 0 0 0 20,000
Revolving Park Equip. Fund (F430) 20,000 20,000
Memorial Backstop, Batters Eye,
Cages, Dugouts 430-056 0 265,000 0 0 0 265,000
G.O. Capital Imp Bonds - 2028 265,000 265,000
Memorial BB Court Maintenance 430-004 0 22,000 0 0 0 22,000
G.O. Capital Imp Bonds - 2028 22,000 22,000
Memorial Concession Building 430-057 0 250,000 0 0 0 250,000
G.O. Capital Imp Bonds - 2028 250,000 250,000
Memorial Drinking Fountain 430-052 0 12,000 0 0 0 12,000
G.O. Capital Imp Bonds - 2028 12,000 12,000
Memorial Parking Lots (2) 430-039 0 350,000 0 0 0 350,000
G.O. Capital Imp Bonds - 2028 350,000 350,000
Memorial Windscreen 430-025 0 7,000 0 0 0 7,000
G.O. Capital Imp Bonds - 2028 7,000 7,000
Misc Playground PLAY 250,000 250,000 250,000 250,000 250,000 1,250,000
Revolving Park Equip. Fund (F430) 250,000 250,000 250,000 250,000 250,000 1,250,000
Northwood Meadows BB Court
Maintenance 430-047 0 0 0 15,000 0 15,000
Revolving Park Equip. Fund (F430) 15,000 15,000
Oakland BB Court Maintenance 430-007 0 0 22,000 0 0 22,000
Revolving Park Equip. Fund (F430) 22,000 22,000
Ponds Parking Lots (4), Entrance
Road 430-069 75,000 2,500,000 0 0 0 2,575,000
G.O. Capital Imp Bonds - 2028 2,500,000 2,500,000
Revolving Park Equip. Fund (F430) 75,000 75,000
Ryan Backstop, Batters Eye, Cages,
Dugouts 430-059 0 250,000 0 0 0 250,000
Revolving Park Equip. Fund (F430) 250,000 250,000
Sand Point BB Court Maintenance 430-027 0 0 0 10,000 0 10,000
Revolving Park Equip. Fund (F430) 10,000 10,000
Produced Using Plan-It CIP Software
5.6
DRAFT
Department Project # 2027 2028 2029 2030 2031 Total
Sand Point Beach Renovation Study 430-030 100,000 0 0 0 0 100,000
Revolving Park Equip. Fund (F430) 100,000 100,000
Spring Lake Pickleball Courts 430-060 0 40,000 0 0 0 40,000
Revolving Park Equip. Fund (F430) 40,000 40,000
Timbercrest BB Court Maintenance 430-037 0 0 0 0 10,000 10,000
Revolving Park Equip. Fund (F430) 10,000 10,000
Watzls City Docks 430-043 0 150,000 0 0 0 150,000
Revolving Park Equip. Fund (F430) 150,000 150,000
Watzls Lighting 430-063 0 0 0 8,500 0 8,500
Revolving Park Equip. Fund (F430) 8,500 8,500
Wilds BB Court Maintenance 430-048 0 0 0 0 20,000 20,000
Revolving Park Equip. Fund (F430) 20,000 20,000
Wilds North BB Court Maintenance 430-010 0 0 15,000 0 0 15,000
Revolving Park Equip. Fund (F430) 15,000 15,000
Willows BB Court Maintenance 430-011 0 0 20,000 0 0 20,000
Revolving Park Equip. Fund (F430) 20,000 20,000
Woodridge Ballfield 430-054 20,000 0 0 0 0 20,000
Revolving Park Equip. Fund (F430) 20,000 20,000
Parks: Projects Total 630,000 4,136,000 327,000 283,500 290,000 5,666,500
GRAND TOTAL 630,000 4,136,000 327,000 283,500 290,000 5,666,500
Produced Using Plan-It CIP Software
rk7
DRAFT
2027 through 2031
Revolving Park Equipment Fund (430)
Prior Lake, MN Funding Source Summary
Source 2027 2028 2029 2030 2031 Total
G.O. Capital Imp Bonds - 2028 3,406,000 3,406,000
Revolving Park Equip. Fund (F430) 630,000 730,000 327,000 283,500 290,000 2,260,500
GRAND TOTAL 630,000 4,136,000 327,000 283,500 290,000 5,666,500
Produced Using Plan-It CIP Software
5.8
DRAFT
CITY OF PRIOR LAKE
Revolving Park Equip Fund F430
2027 2028 2029 2030 2031
Projected Projected Projected Projected Projected
REVENUE AND OTHER SOURCES
Taxes 655,000 705,000 705,000 750,000 800,000
Intergovernmental 283,600 - - - -
Investment income 20,100 15,000 15,000 15,000 15,000
Miscellaneous 200,000 - - - -
Bonds issued (incl prem/disc) city portion - 3,500,000 - - -
Total Revenues and Other Fund Sources 1,158,700 4,220,000 720,000 765,000 815,000
EXPENDITURES AND OTHER USES
Capital Outlay (630,000) (4,136,000) (327,000) (283,500) (290,000)
Cost of issuance of bonds - (100,000) - - -
Total Expenditures and Other Uses (630,000) (4,236,000) (327,000) (283,500) (290,000)
CHANGE IN FUND BALANCE 528,700 (16,000) 393,000 481,500 525,000
Beginning Fund Balance 236,761 765,461 749,461 1,142,461 1,623,961
Ending Fund Balance 765,461 749,461 1,142,461 1,623,961 2,148,961
5.9
DRAFT
2027 through 2031
Facilities Management Fund (440)
Prior Lake, MN Projects By Category
Category Project # 2027 2028 2029 2030 2031 Total
Facil: City Hall
Air Handler (2) 440-094 250,000 250,000
BAS Upgrade 440-215 210,000 210,000
Bathroom Remodel - Main Level 440-216 350,000 350,000
Brick Wallcovering / Cherrywood
Paneling 440-088 35,000 35,000
Carpet 440-038 250,000 250,000
Chiller 440-095 175,000 175,000
Chiller Pipe to AHU Coils 440-238 75,000 75,000
Chiller Primary Pumps 440-213 120,000 120,000
Chiller Secondary Pumps 440-214 30,000 30,000
Coiling Doors 440-037 16,500 16,500
Emergency Lighting 440-209 35,000 35,000
Emergency Repairs - All Bldgs 440-208 150,000 150,000 150,000 150,000 150,000 750,000
Epoxy Mechanical Room Floors 440-239 20,000 20,000
Glass Doors 440-034 12,000 12,000
Greenheck Exhaust (2) 440-093 14,000 14,000
Lighting Fixtures (interior/exterior) 440-097 279,000 279,000
Lighting Repairs 440-236 35,000 35,000
Membrane Roofing 440-017 540,000 540,000
Miscellaneous 440-096 7,000 7,000
Parking Lot / Sidewalks 440-098 150,000 150,000
Patio Replacement 440-242 45,000 45,000
Project Development for 2028 Imp 440-189 79,000 111,000 190,000
Re-Key/New Locksets 440-241 40,000 40,000
Retaining Wall 440-205 75,000 75,000
Roof Safety Ladders 2 440-235 20,000 20,000
Secured Entry Card Reader System 440-190 10,000 10,000
SIdewalk Repairs 440-237 35,000 35,000
Stairwell Flooring 440-240 20,000 20,000
Steel Door and Frames 440-099 30,000 30,000
Facil: City Hall Total 284,000 1,955,500 785,000 185,000 609,000 3,818,500
Facil: City Owned Properties
Auto Shop Roof Repairs 440-266 5,000 5,000
Lakeside Eats & Treats Roof 440-265 16,000 16,000
Pike Lake House Demolition 440-264 70,000 70,000
Facil: City Owned Properties Total 91,000 0 0 0 0 91,000
Facil: Fire Station #1
Infrared Heaters 440-071 180,000 180,000
Membrane Roofing 440-073 290,000 290,000
Re-Key/New Locksets 440-267 20,000 20,000
Rooftop Unit 440-072 171,000 171,000
Trash Enclosure 440-122 3,500 3,500
Windows - Aluminum 440-084 70,000 70,000
Facil: Fire Station #1 Total 0 0 20,000 424,500 290,000 734,500
Facil: Fire Station #2
Air Exchanger 440-124 20,000 20,000
Carpet 440-012 40,000 40,000
Dorm Project 440-269 600,000 600,000
Produced Using Plan-It CIP Software
ogj
DRAFT
Category Project # 2027 2028 2029 2030 2031 Total
Dorm Project Development 440-268 75,000 75,000
Epoxy Flooring 440-059 82,000 82,000
Exhaust Fan (2) 440-123 15,000 15,000
Forced Air Furnace (3) 440-024 15,000 15,000
Gas Monitor (2) 440-127 15,000 15,000
Irrigation System 440-055 14,000 14,000
Make-Up Air Unit 440-125 60,000 60,000
Miscellaneous 440-126 14,000 14,000
Overhead Doors 14x14 440-056 32,500 32,500
Pressure Washer (2 Stations) 440-057 11,500 11,500
Re-Key/New Locksets 440-270 20,000 20,000
Facil: Fire Station #2 Total 170,000 600,000 34,000 155,000 55,000 1,014,000
Facil: Library & Club Prior
Air Handling Unit - McQuay 440-114 125,000 125,000
Air Handling Unit - Trane 440-110 125,000 125,000
Building Automation System 440-251 175,000 175,000
Carpet 440-256 120,000 120,000
Condensing Unit 440-064 75,000 75,000
Humidifiers (2) 440-115 30,000 30,000
Light Fixtures 440-065 63,000 63,000
Membrane Roofing 440-252 360,000 360,000
Metal Roofing Re-Caulk 440-253 100,000 100,000
Project Development for 2029 Imp 440-226 66,760 66,760 78,000 211,520
Re-Key/New Locksets 440-255 30,000 30,000
Restroom Exhaust Fan 440-111 5,500 5,500
Restroom Remodel 440-254 250,000 250,000
Secured Entry Card Reader System 440-194 10,000 10,000
Tile Walls 440-067 20,000 20,000
Wall Coverings 440-113 25,000 25,000
Facil: Library & Club Prior Total 66,760 66,760 1,591,500 0 0 1,725,020
Facil: Maintenance Ctr.
Maintenance Center Expansion 440-186 1,000,000 2,000,000 3,000,000
Secured Entry Card Reader System 440-198 10,000 10,000
Facil: Maintenance Ctr. Total 0 0 10,000 1,000,000 2,000,000 3,010,000
Facil: Park Amenities
Lakefront Door and Locks 440-260 25,000 25,000
Lakefront Flooring 440-261 30,000 30,000
Lakefront Paint Exterior 440-259 50,000 50,000
Lakefront Roof Replacement 440-258 175,000 175,000
Lakefront Upper Restroom Door 440-263 25,000 25,000
Ponds Doors 440-257 30,000 30,000
Re-Key/New Locksets 440-262 30,000 30,000
Ryan Park Bathroom Remodel 430-082 750,000 750,000
Facil: Park Amenities Total 1,090,000 25,000 0 0 0 1,115,000
Facil: Police Station
Air Handler - McQuay 440-104 85,000 85,000
Bathroom Remodel - 3 440-222 225,000 225,000
Bell and Gosset Pump 440-102 25,000 25,000
Boilers 440-075 150,000 150,000
Building Automation System 440-248 175,000 175,000
Carpet 440-185 225,000 225,000
Dato Closet Split Unit 440-246 14,000 14,000
Epoxy Flooring 440-107 85,000 85,000
Epoxy Mechanical Room Floors 440-249 20,000 20,000
Produced Using Plan-It CIP Software
6.2
DRAFT
Category Project # 2027 2028 2029 2030 2031 Total
Front Entry Security Update 440-101 125,000 125,000
Greenheck Exhaust (2) 440-103 25,000 25,000
Gym Flooring 440-244 55,000 55,000
Light Fixtures 440-045 140,000 140,000
Locker Room Remodel 440-049 250,000 250,000
Membrane Roofing 440-029 350,000 350,000
Overhead Coiling Door (2) 440-047 18,000 18,000
Parking Lot / Sidewalks 440-108 87,000 87,000
Parking / Safety Enhancements 440-087 300,000 300,000
Project Development for 2026 Imp 440-192 49,000 49,000 98,000
Re-Key/New Locksets 440-250 40,000 40,000
Roof Safety Ladders 2 440-245 20,000 20,000
Secured Entry Card Reader System 440-193 10,000 10,000
Space Needs Study 440-243 75,000 75,000
Stairwell Flooring 440-247 15,000 15,000
Steel Doors and Frames 440-109 50,000 50,000
VAV Boxes 440-106 208,000 208,000
Facil: Police Station Total 313,000 1,580,000 50,000 650,000 277,000 2,870,000
GRAND TOTAL 2,014,760 4,227,260 2,490,500 2,414,500 3,231,000 14,378,020
Produced Using Plan-It CIP Software
6.3
DRAFT
2027 through 2031
Facilities Management Fund (440)
Prior Lake, MN Projects & Funding Sources By Department
Department Project # 2027 2028 2029 2030 2031 Total
Facilities
Air Exchanger 440-124 20,000 0 0 0 0 20,000
Facilities Management Fund (F440) 20,000 20,000
Air Handler (2) 440-094 0 250,000 0 0 0 250,000
G.O. Capital Imp Bonds - 2028 250,000 250,000
Air Handler - McQuay 440-104 0 85,000 0 0 0 85,000
G.O. Capital Imp Bonds - 2028 85,000 85,000
Air Handling Unit - McQuay 440-114 0 0 125,000 0 0 125,000
G.O. Capital Improvement Bonds 125,000 125,000
Air Handling Unit - Trane 440-110 0 0 125,000 0 0 125,000
G.O. Capital Improvement Bonds 125,000 125,000
Auto Shop Roof Repairs 440-266 5,000 0 0 0 0 5,000
Facilities Management Fund (F440) 5,000 5,000
BAS Upgrade 440-215 0 210,000 0 0 0 210,000
G.O. Capital Imp Bonds - 2028 210,000 210,000
Bathroom Remodel - 3 440-222 0 225,000 0 0 0 225,000
G.O. Capital Imp Bonds - 2028 225,000 225,000
Bathroom Remodel - Main Level 440-216 0 350,000 0 0 0 350,000
G.O. Capital Imp Bonds - 2028 350,000 350,000
Bell and Gosset Pump 440-102 0 25,000 0 0 0 25,000
G.O. Capital Imp Bonds - 2028 25,000 25,000
Boilers 440-075 0 150,000 0 0 0 150,000
G.O. Capital Imp Bonds - 2028 150,000 150,000
Brick Wallcovering / Cherrywood
Paneling 440-088 0 35,000 0 0 0 35,000
G.O. Capital Imp Bonds - 2028 35,000 35,000
Building Automation System 440-248 0 175,000 0 0 0 175,000
Facilities Management Fund (F440) 175,000 175,000
Building Automation System 440-251 0 0 175,000 0 0 175,000
G.O. Capital Improvement Bonds 175,000 175,000
Carpet 440-185 0 225,000 0 0 0 225,000
G.O. Capital Imp Bonds - 2028 225,000 225,000
Carpet 440-038 0 250,000 0 0 0 250,000
G.O. Capital Imp Bonds - 2028 250,000 250,000
Carpet 440-012 0 0 0 0 40,000 40,000
G.O. Capital Improvement Bonds 40,000 40,000
Carpet 440-256 0 0 120,000 0 0 120,000
G.O. Capital Improvement Bonds 120,000 120,000
Chiller 440-095 0 175,000 0 0 0 175,000
G.O. Capital Imp Bonds - 2028 175,000 175,000
Chiller Pipe to AHU Coils 440-238 0 75,000 0 0 0 75,000
Facilities Management Fund (F440) 75,000 75,000
Chiller Primary Pumps 440-213 0 120,000 0 0 0 120,000
G.O. Capital Imp Bonds - 2028 120,000 120,000
Chiller Secondary Pumps 440-214 0 30,000 0 0 0 30,000
G.O. Capital Imp Bonds - 2028 30,000 30,000
Coiling Doors 440-037 0 16,500 0 0 0 16,500
G.O. Capital Imp Bonds - 2028 16,500 16,500
Condensing Unit 440-064 0 0 75,000 0 0 75,000
Produced Using Plan-It CIP Software
6.4
DRAFT
Department Project # 2027 2028 2029 2030 2031 Total
G.O. Capital Improvement Bonds 75,000 75,000
Dato Closet Split Unit 440-246 14,000 0 0 0 0 14,000
Facilities Management Fund (F440) 14,000 14,000
Dorm Project 440-269 0 600,000 0 0 0 600,000
G.O. Capital Imp Bonds - 2028 600,000 600,000
Dorm Project Development 440-268 75,000 0 0 0 0 75,000
Facilities Management Fund (F440) 75,000 75,000
Emergency Lighting 440-209 0 0 0 35,000 0 35,000
G.O. Capital Improvement Bonds 35,000 35,000
Emergency Repairs - All Bldgs 440-208 150,000 150,000 150,000 150,000 150,000 750,000
Facilities Management Fund (F440) 150,000 150,000 150,000 150,000 600,000
G.O. Capital Imp Bonds - 2028 150,000 150,000
Epoxy Flooring 440-059 0 0 0 82,000 0 82,000
G.O. Capital Improvement Bonds 82,000 82,000
Epoxy Flooring 440-107 85,000 0 0 0 0 85,000
Facilities Management Fund (F440) 85,000 85,000
Epoxy Mechanical Room Floors 440-239 0 20,000 0 0 0 20,000
Facilities Management Fund (F440) 20,000 20,000
Epoxy Mechanical Room Floors 440-249 0 20,000 0 0 0 20,000
Facilities Management Fund (F440) 20,000 20,000
Exhaust Fan (2) 440-123 15,000 0 0 0 0 15,000
Facilities Management Fund (F440) 15,000 15,000
Forced Air Furnace (3) 440-024 0 0 0 0 15,000 15,000
Facilities Management Fund (F440) 15,000 15,000
Front Entry Security Update 440-101 0 125,000 0 0 0 125,000
G.O. Capital Imp Bonds - 2028 125,000 125,000
Gas Monitor (2) 440-127 0 0 0 15,000 0 15,000
G.O. Capital Improvement Bonds 15,000 15,000
Glass Doors 440-034 0 12,000 0 0 0 12,000
G.O. Capital Imp Bonds - 2028 12,000 12,000
Greenheck Exhaust (2) 440-093 0 14,000 0 0 0 14,000
G.O. Capital Imp Bonds - 2028 14,000 14,000
Greenheck Exhaust (2) 440-103 0 25,000 0 0 0 25,000
G.O. Capital Imp Bonds - 2028 25,000 25,000
Gym Flooring 440-244 55,000 0 0 0 0 55,000
Facilities Management Fund (F440) 55,000 55,000
Humidifiers (2) 440-115 0 0 30,000 0 0 30,000
G.O. Capital Improvement Bonds 30,000 30,000
Infrared Heaters 440-071 0 0 0 180,000 0 180,000
G.O. Capital Improvement Bonds 180,000 180,000
Irrigation System 440-055 0 0 0 14,000 0 14,000
Facilities Management Fund (F440) 14,000 14,000
Lakefront Door and Locks 440-260 25,000 0 0 0 0 25,000
Facilities Management Fund (F440) 25,000 25,000
Lakefront Flooring 440-261 30,000 0 0 0 0 30,000
Facilities Management Fund (F440) 30,000 30,000
Lakefront Paint Exterior 440-259 50,000 0 0 0 0 50,000
Facilities Management Fund (F440) 50,000 50,000
Lakefront Roof Replacement 440-258 175,000 0 0 0 0 175,000
Facilities Management Fund (F440) 175,000 175,000
Lakefront Upper Restroom Door 440-263 0 25,000 0 0 0 25,000
Facilities Management Fund (F440) 25,000 25,000
Lakeside Eats & Treats Roof 440-265 16,000 0 0 0 0 16,000
Facilities Management Fund (F440) 16,000 16,000
Light Fixtures 440-045 0 0 0 0 140,000 140,000
G.O. Capital Improvement Bonds 140,000 140,000
Produced Using Plan-It CIP Software
nf5
DRAFT
Department Project # 2027 2028 2029 2030 2031 Total
Light Fixtures 440-065 0 0 63,000 0 0 63,000
G.O. Capital Improvement Bonds 63,000 63,000
Lighting Fixtures (interior/exterior) 440-097 0 0 0 0 279,000 279,000
Facilities Management Fund (F440) 279,000 279,000
Lighting Repairs 440-236 35,000 0 0 0 0 35,000
Facilities Management Fund (F440) 35,000 35,000
Locker Room Remodel 440-049 0 250,000 0 0 0 250,000
G.O. Capital Imp Bonds - 2028 250,000 250,000
Maintenance Center Expansion 440-186 0 0 0 1,000,000 2,000,000 3,000,000
G.O. Capital Improvement Bonds 1,000,000 2,000,000 3,000,000
Make-Up Air Unit 440-125 60,000 0 0 0 0 60,000
Facilities Management Fund (F440) 60,000 60,000
Membrane Roofing 440-073 0 0 0 0 290,000 290,000
G.O. Capital Improvement Bonds 290,000 290,000
Membrane Roofing 440-017 0 0 540,000 0 0 540,000
G.O. Capital Improvement Bonds 540,000 540,000
Membrane Roofing 440-029 0 0 0 350,000 0 350,000
G.O. Capital Improvement Bonds 350,000 350,000
Membrane Roofing 440-252 0 0 360,000 0 0 360,000
G.O. Capital Improvement Bonds 360,000 360,000
Metal Roofing Re-Caulk 440-253 0 0 100,000 0 0 100,000
G.O. Capital Improvement Bonds 100,000 100,000
Miscellaneous 440-096 0 7,000 0 0 0 7,000
G.O. Capital Imp Bonds - 2028 7,000 7,000
Miscellaneous 440-126 0 0 14,000 0 0 14,000
Facilities Management Fund (F440) 14,000 14,000
Overhead Coiling Door (2) 440-047 0 18,000 0 0 0 18,000
G.O. Capital Imp Bonds - 2028 18,000 18,000
Overhead Doors 14x14 440-056 0 0 0 32,500 0 32,500
Facilities Management Fund (F440) 32,500 32,500
Parking Lot / Sidewalks 440-098 0 0 0 0 150,000 150,000
Facilities Management Fund (F440) 150,000 150,000
Parking Lot / Sidewalks 440-108 0 0 0 0 87,000 87,000
Facilities Management Fund (F440) 87,000 87,000
Parking / Safety Enhancements 440-087 0 0 0 300,000 0 300,000
Facilities Management Fund (F440) 300,000 300,000
Patio Replacement 440-242 0 0 45,000 0 0 45,000
G.O. Capital Improvement Bonds 45,000 45,000
Pike Lake House Demolition 440-264 70,000 0 0 0 0 70,000
Facilities Management Fund (F440) 70,000 70,000
Ponds Doors 440-257 30,000 0 0 0 0 30,000
Facilities Management Fund (F440) 30,000 30,000
Pressure Washer (2 Stations) 440-057 0 0 0 11,500 0 11,500
G.O. Capital Improvement Bonds 11,500 11,500
Project Development for 2026 Imp 440-192 49,000 49,000 0 0 0 98,000
Facilities Management Fund (F440) 49,000 49,000
G.O. Capital Imp Bonds - 2028 49,000 49,000
Project Development for 2028 Imp 440-189 79,000 111,000 0 0 0 190,000
Facilities Management Fund (F440) 79,000 79,000
G.O. Capital Imp Bonds - 2028 111,000 111,000
Project Development for 2029 Imp 440-226 66,760 66,760 78,000 0 0 211,520
Facilities Management Fund (F440) 66,760 66,760 78,000 211,520
Re-Key/New Locksets 440-241 0 0 40,000 0 0 40,000
Facilities Management Fund (F440) 40,000 40,000
Re-Key/New Locksets 440-250 0 0 40,000 0 0 40,000
Facilities Management Fund (F440) 40,000 40,000
Produced Using Plan-It CIP Software
nf6
DRAFT
Department Project # 2027 2028 2029 2030 2031 Total
Re-Key/New Locksets 440-255 0 0 30,000 0 0 30,000
Facilities Management Fund (F440) 30,000 30,000
Re-Key/New Locksets 440-262 30,000 0 0 0 0 30,000
Facilities Management Fund (F440) 30,000 30,000
Re-Key/New Locksets 440-267 0 0 20,000 0 0 20,000
Facilities Management Fund (F440) 20,000 20,000
Re-Key/New Locksets 440-270 0 0 20,000 0 0 20,000
Facilities Management Fund (F440) 20,000 20,000
Restroom Exhaust Fan 440-111 0 0 5,500 0 0 5,500
G.O. Capital Improvement Bonds 5,500 5,500
Restroom Remodel 440-254 0 0 250,000 0 0 250,000
G.O. Capital Improvement Bonds 250,000 250,000
Retaining Wall 440-205 0 75,000 0 0 0 75,000
G.O. Capital Imp Bonds - 2028 75,000 75,000
Roof Safety Ladders 2 440-235 20,000 0 0 0 0 20,000
Facilities Management Fund (F440) 20,000 20,000
Roof Safety Ladders 2 440-245 20,000 0 0 0 0 20,000
Facilities Management Fund (F440) 20,000 20,000
Rooftop Unit 440-072 0 0 0 171,000 0 171,000
G.O. Capital Improvement Bonds 171,000 171,000
Ryan Park Bathroom Remodel 430-082 750,000 0 0 0 0 750,000
Facilities Management Fund (F440) 250,000 250,000
G.O. Capital Improvement Bonds 500,000 500,000
Secured Entry Card Reader System 440-190 0 0 10,000 0 0 10,000
Facilities Management Fund (F440) 10,000 10,000
Secured Entry Card Reader System 440-193 0 0 10,000 0 0 10,000
Facilities Management Fund (F440) 10,000 10,000
Secured Entry Card Reader System 440-194 0 0 10,000 0 0 10,000
Facilities Management Fund (F440) 10,000 10,000
Secured Entry Card Reader System 440-198 0 0 10,000 0 0 10,000
Facilities Management Fund (F440) 10,000 10,000
SIdewalk Repairs 440-237 0 35,000 0 0 0 35,000
Facilities Management Fund (F440) 35,000 35,000
Space Needs Study 440-243 75,000 0 0 0 0 75,000
Facilities Management Fund (F440) 75,000 75,000
Stairwell Flooring 440-240 0 20,000 0 0 0 20,000
Facilities Management Fund (F440) 20,000 20,000
Stairwell Flooring 440-247 15,000 0 0 0 0 15,000
Facilities Management Fund (F440) 15,000 15,000
Steel Door and Frames 440-099 0 0 0 0 30,000 30,000
G.O. Capital Improvement Bonds 30,000 30,000
Steel Doors and Frames 440-109 0 0 0 0 50,000 50,000
Facilities Management Fund (F440) 50,000 50,000
Tile Walls 440-067 0 0 20,000 0 0 20,000
G.O. Capital Improvement Bonds 20,000 20,000
Trash Enclosure 440-122 0 0 0 3,500 0 3,500
Facilities Management Fund (F440) 3,500 3,500
VAV Boxes 440-106 0 208,000 0 0 0 208,000
G.O. Capital Imp Bonds - 2028 208,000 208,000
Wall Coverings 440-113 0 0 25,000 0 0 25,000
G.O. Capital Improvement Bonds 25,000 25,000
Windows - Aluminum 440-084 0 0 0 70,000 0 70,000
Produced Using Plan-It CIP Software
nf7
DRAFT
Department Project # 2027 2028 2029 2030 2031 Total
G.O. Capital Improvement Bonds 70,000 70,000
Facilities Total 2,014,760 4,227,260 2,490,500 2,414,500 3,231,000 14,378,020
GRAND TOTAL 2,014,760 4,227,260 2,490,500 2,414,500 3,231,000 14,378,020
Produced Using Plan-It CIP Software
nf8
DRAFT
2027 through 2031
Facilities Management Fund (440)
Prior Lake, MN Funding Source Summary
Source 2027 2028 2029 2030 2031 Total
Facilities Management Fund (F440) 1,514,760 436,760 432,000 500,000 731,000 3,614,520
G.O. Capital Imp Bonds - 2028 3,790,500 3,790,500
G.O. Capital Improvement Bonds 500,000 2,058,500 1,914,500 2,500,000 6,973,000
GRAND TOTAL 2,014,760 4,227,260 2,490,500 2,414,500 3,231,000 14,378,020
Produced Using Plan-It CIP Software
6.9
DRAFT
CITY OF PRIOR LAKE
Facilities Mgmt Fund F440
2027 2028 2029 2030 2031
Preliminary
Budget
Projected Projected Projected Projected
REVENUE AND OTHER SOURCES
Taxes 355,000 405,000 555,000 600,000 650,000
Investment income 21,400 20,000 20,000 20,000 20,000
Miscellaneous - - - - -
Bonds issued (incl prem/disc) city portion 515,000 3,915,000 2,165,000 2,060,000 2,575,000
Transfers in
Water Fund (F601)- - - - -
Sewer Fund (F604)- - - - -
General fund (F101 reserves)130,000 - - - -
Total Revenues and Other Fund Sources 1,021,400 4,340,000 2,740,000 2,680,000 3,245,000
EXPENDITURES AND OTHER USES
Capital Outlay (2,154,760) (4,227,260) (2,490,500) (2,414,500) (3,231,000)
Cost of issuance of bonds (15,000) (115,000) (65,000) (60,000) (75,000)
Other uses - - - (10,000) -
Total Expenditures and Other Uses (2,169,760) (4,342,260) (2,555,500) (2,484,500) (3,306,000)
CHANGE IN FUND BALANCE (1,148,360) (2,260) 184,500 195,500 (61,000)
Beginning Fund Balance 1,165,085 16,725 14,465 198,965 394,465
Ending Fund Balance 16,725 14,465 198,965 394,465 333,465
6.10
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CITY OF PRIOR LAKE, MN
2027 to 2031 CAPITAL IMPROVEMENT PLAN
August 12, 2026
Adopted ______________, 2026
6.11
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CITY OF PRIOR LAKE
2027-2031 CAPITAL IMPROVEMENT PLAN
I.INTRODUCTION
In 2003, the Minnesota State Legislature adopted a statute that generally exempts city and town
general obligation bonds issued under a capital improvement plan from the referendum
requirements usually required for city halls, public works, public safety facilities and libraries.
The statute on general obligation capital improvement plan bonds is Minnesota Statutes,
Section 475.521 (the “Act”).
On August 12, 2026, the City Council held a public hearing on the adoption of the 2027-2031
Capital Improvement Plan and the issuance of general obligation improvement bonds.
On August 12, 2026, the City Council adopted Resolution No. 26-_____ approving the 2027-
2031 Capital Improvement Plan (the “CIP”). The approved 2027-2031 Capital Improvement
Plan anticipates the issuance of general obligation bonds to finance certain facilities
improvements as described in the CIP.
In order for the City of Prior Lake (the “City”) to proceed to issue general obligation bonds,
pursuant to the Act, the City must make certain findings. These findings are included in this
document.
II.PURPOSE
Under the Act, a capital improvement is a major expenditure of City funds for the acquisition
or betterment to public lands, buildings, or other improvements used as a city hall, town hall,
library, public safety, or public works facility, which has a useful life of five years or more.
Under the Act, capital improvements do not include light rail transit or related activities, parks,
road/bridges, administrative buildings other than a city hall or town hall, or land for those
facilities. For the purposes of the Act, the CIP is a document designed to anticipate capital
improvement expenditures and schedule them over at least a five-year period so that they may
be purchased in the most efficient and cost-effective method possible. A CIP allows the
matching of expenditures with anticipated income. As potential expenditures are reviewed, the
City considers the benefits, costs, alternatives, and impact on operating expenditures.
Before issuing bonds under a CIP, the City must hold a public hearing on the CIP and the
proposed bonds and must then approve the CIP and authorize the issuance of the bonds by at
least a 3/5 majority.
If a petition signed by voters equal to at least 5 percent of the votes cast in the last general City
election requesting a vote on the issuance of bonds is received by the municipal clerk within
30 days after the public hearing, then the bonds may not be issued unless approved by the voters
at an election.
6.12
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The statute has established certain criteria that must be considered for each project to be
undertaken pursuant to this CIP (the “Projects”). These criteria are:
1.Condition of the City’s existing infrastructure and projected need for repair or replacement
2.Demand for the improvement
3.Cost of the improvement
4.Availability of public resources
5. Level of overlapping debt
6.Cost/benefits of alternative uses of funds
7. Operating costs of the proposed improvements
8.Alternatives for providing services most efficiently through shared facilities with other
municipalities or local governments
The CIP is designed to be updated and modified on an annual basis. In this manner, it becomes
an ongoing fiscal planning tool that continually anticipates future capital expenditures and
funding sources.
III.PLAN SUMMARY
This CIP is intended to describe and analyze the need for the Projects in accordance with the
Act. The City may modify this CIP from year to year as authorized by the Act.
Following is a summary of estimated expenditures for the Projects, including cost of bond
issuance (financing costs):
2027 Expenditures
The City intends to do a bathroom remodel at the Thomas Ryan facility. The combined
estimated cost of the improvements to these facilities along with cost of issuance to be
financed through bond proceeds is $515,000.
2028 Expenditures
The City intends to do multiple projects. City Hall improvements include a bathroom
remodel, carpet, chiller, air handler and a BAS upgrade. Fire Station 2 will see a dorm
remodel project. The Police Station improvements include a bathroom remodel, boiler
replacement, BAS upgrade, carpet, locker room remodel and VAV boxes. The combined
estimated cost of the improvements to these facilities along with cost of issuance to be
financed through bond proceeds is $3,915,000.
2029 Expenditures
The City intends for maintenance and remodel in City Hall and the Library/Club Prior.
The major improvement in City Hall will be roofing. The Library/Club Prior will see
6.13
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A-3
roofing, air handling units, carpet and a BAS upgrade. The combined estimated cost of the
improvements to these facilities along with cost of issuance to be financed through bond
proceeds is $2,165,000.
2030 expenditures
The City intends for multiple improvements around the City. Fire Station 1 will see a
rooftop unit, infrared heaters and windows. We anticipate engineering fees for the
Maintenance Facility. The Police Station plan includes roofing and parking enhancements.
The combined estimated cost of the improvement to these facilities along with cost of
issuance to be financed through bond proceeds is $2,060,000.
2031 Expenditures
The City intends for roofing at Fire Station 1 and engineering costs for the Maintenance
Facility. The combined estimated cost of the improvements to these facilities along with
cost of issuance to be financed through bond proceeds is $2,575,000.
Analysis
The City has analyzed the eight points required by the Act for the Projects on an individual
basis and as a whole. The findings are as follows:
1. Conditions of City Infrastructure, Including the Projected Need for Repair or
Replacement and Need for the Project
Improvements to City public safety, public works, and city hall facilities in future years are for
capital maintenance and repair of existing facilities.
2.Likely Demand for the Project
The City’s basic government service operations, including administration, police, fire, and
public works operations are housed in facilities that are in need of capital maintenance and
repair.
3. Estimated Cost of the Project
The estimated cost, including architectural/engineering, contingency, legal and bonding, of the
Project is set forth above.
4.Available Public Resources
The City does not have sufficient cash reserves on hand to finance the improvement of the city
hall and public works and public safety facilities without issuing bonds. The City plans to use
the bond proceeds to reimburse the City for the Projects.
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5. Level of Overlapping Debt in the City
As of July 2, 2025, the level of overlapping debt in the City is provided in the table below:
Issuer
2025/2026
Tax
Capacity
Value(1)
2025/2026
Tax
Capacity
Value
in City(1)
Percentage
Applicable
in City
Outstanding
General
Obligation
Debt(2)
Taxpayers’
Share
of Debt
Scott County $ 345,024,650 $67,263,937 19.50% $86,835,000 $16,932,825
ISD No. 719 (Prior
Lake-Savage) 108,716,245 64,331,356 59.17 109,983,926 65,077,489
ISD No. 720
(Shakopee) 108,106,610 2,932,581 2.71 85,014,567 2,303,895
Metropolitan Council 6,503,726,905 67,263,937 1.03 12,100,000 (3) 124,630
Metro Transit 5,665,367,373 67,263,937 1.19 223,650,000 (4) 2,661,435
Total Indirect Debt: $ 87,100,274
(1)Tax Capacity Value is after tax increment deduction and fiscal disparity adjustments.
(2)As of July 2, 2025, unless noted otherwise.
(3)Metropolitan Council has $12,100,000 of general obligation debt outstanding as of December 31, 2025. This debt
is payable from ad valorem taxes levied on all taxable property within the Metropolitan Taxing District. This
amount excludes $1,122,348,000 of general obligation debt payable from wastewater and sewer revenues, and
lease agreements.
(4) Metropolitan Transit has $223,650,000 of property tax supported general obligation debt outstanding as of
December 31, 2025. Transit debt is issued by the Metropolitan Council for public transit operations and is payable
from ad valorem taxes levied on all taxable property within the Metropolitan Transit District. This amount excludes
$181,410,000 of general obligation debt payable from revenues.
6.15
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6. Relative Benefits and Costs of Alternative Uses of the Funds
The proposed Projects could potentially be financed through the issuance of lease-revenue
bonds. However, both costs of issuance and overall debt service payments would be
significantly higher, since lease-revenue bonds are not general obligation debt and are therefore
not as attractive to potential purchasers. The issuance of general obligation capital
improvement plan bonds represents the most cost-efficient way to finance the proposed
Projects.
7. Operating Costs of the Proposed Project
Operating costs are not expected to be impacted to any significant degree with the proposed
improvements.
8. Alternatives for Providing Services Most Efficiently Through Shared Facilities with
Other Municipalities or Local Government Units
The proposed capital improvements are being made to maximize effective, cost-effective City
facilities, and as such, there would be no greater efficiency achieved through constructing
shared facilities with other local government units.
IV.FINANCING THE CAPITAL IMPROVEMENT PLAN
The total amount of requested expenditures under the CIP is expected not to exceed
$11,230,000, including estimated cost of issuance of bonds. These expenditures are to be
funded by the sale of the City’s general obligation capital improvement plan bonds not to
exceed $11,230,000.
In the financing of the CIP, two statutory limitations apply. Under Minnesota Statutes, Chapter
475, as amended, with few exceptions, a municipality cannot incur debt in excess of 3% of the
assessor’s Estimated Market Value (“EMV”) for the municipality. In the case of a municipality
with a population of 2,500 or less, the bonds are not subject to the net debt limits. The City’s
2025 population was approximately 28,500. Therefore, the proposed general obligation capital
improvement plan bonds to be issued in the years 2027 through 2031 would be subject to the
debt limit.
Another limitation on bonding under the Act is that without referendum, the total amount that
can be used for principal and interest in any one year for CIP debt cannot exceed 0.16% of the
EMV for the City. The City has portions of four outstanding series of bonds, its General
Obligation Bonds, Series 2018A (the “Series 2018A Bonds”), General Obligation Bonds,
Series 2021A (the “Series 2021A Bonds”), General Obligation Bonds, Series 2021B (the
“Series 2021B Bonds”), and General Obligation Bonds, Series 2026A (the “Series 2026A
Bonds” and together with the Series 2018A Bonds, the Series 2021A Bonds, the Series 2021B
Bonds, the “Outstanding CIP Bonds”), issued under the Act. The maximum amount of
principal and interest due in any calendar year on the Outstanding CIP Bonds, combined, is
$1,273,338. In payable year 2026, the City’s EMV was $6,089,682,900. Therefore, the total
amount available to be used to pay principal and interest on the outstanding bonds plus any
new bonds issued under this Plan is $9,743,493 per year ($6,089,682,900 x 0.16% =
$9,743,493, which is greater than the maximum amount of principal and interest due in any
year on the Outstanding CIP Bonds plus the proposed new bonds.).
6.16
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Under this CIP the City may issue up to $11,230,000 in general obligation capital improvement
plan bonds in the years 2027 through 2031 to finance the Projects. If the City were to issue
general obligation capital improvement bonds in the maximum principal amount of
$11,230,000 for the Projects, the bond issue would be repaid over a period not to exceed thirty
(30) years pursuant to the Act.
Expected debt service on the proposed bonds for the Projects is within the statutory limits.
Annual Review of the Capital Improvement Plan
The City Council, using the process outlined in this CIP, plans to review this CIP annually,
considering proposed expenditures, making priority decisions, and seeking funding for those
expenditures it deems necessary for the City. If deemed appropriate, the City Council will
prepare an update to this CIP.
(The remainder of this page is intentionally blank)
6.17
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2027 through 2031
Technology (101/210)
Prior Lake, MN Projects By Department
Department Project # 2027 2028 2029 2030 2031 Total
Cable
Chambers Cameras and Mics COMM-005 140,000 140,000
Cable Total 140,000 0 0 0 0 140,000
Elections
Tabulators - qty 2 ELEC-002 115,000 115,000
Elections Total 0 0 0 0 115,000 115,000
Technology
Firewall Replacement TECH-NW-001 5,000 5,000
General Equipment Contingency TECH-EQ-001 10,000 10,000
HP DesignJet T1500 - CD/Eng TECH-EQ-009 10,000 10,000
Ricoh MP C2504 Fire TECH-EQ-008 11,000 11,000
Ricoh MP C4503 - CD/Eng TECH-EQ-003 11,000 11,000
Ricoh MP C4504 - Admin TECH-EQ-005 13,000 13,000
Virtual Server TECH-NW-012 25,000 25,000
Technology Total 38,000 16,000 10,000 0 21,000 85,000
GRAND TOTAL 178,000 16,000 10,000 0 136,000 340,000
Produced Using Plan-It CIP Software
7.1
DRAFT
2027 through 2031
Technology (101/210)
Prior Lake, MN Projects & Funding Sources By Department
Department Project # 2027 2028 2029 2030 2031 Total
Cable
Chambers Cameras and Mics COMM-005 140,000 0 0 0 0 140,000
Cable Franchise Fund (F210) 70,000 70,000
General Fund (F101) 70,000 70,000
Cable Total 140,000 0 0 0 0 140,000
Technology
Firewall Replacement TECH-NW-001 0 5,000 0 0 0 5,000
General Fund (F101) 5,000 5,000
General Equipment Contingency TECH-EQ-001 0 0 10,000 0 0 10,000
General Fund (F101) 10,000 10,000
HP DesignJet T1500 - CD/Eng TECH-EQ-009 0 0 0 0 10,000 10,000
General Fund (F101) 10,000 10,000
Ricoh MP C2504 Fire TECH-EQ-008 0 11,000 0 0 0 11,000
General Fund (F101) 11,000 11,000
Ricoh MP C4503 - CD/Eng TECH-EQ-003 0 0 0 0 11,000 11,000
General Fund (F101) 11,000 11,000
Ricoh MP C4504 - Admin TECH-EQ-005 13,000 0 0 0 0 13,000
General Fund (F101) 13,000 13,000
Virtual Server TECH-NW-012 25,000 0 0 0 0 25,000
General Fund (F101) 25,000 25,000
Technology Total 38,000 16,000 10,000 0 21,000 85,000
GRAND TOTAL 178,000 16,000 10,000 0 21,000 225,000
Produced Using Plan-It CIP Software
7.2
DRAFT
Water Fund
Summary of Key Financial Information
Water Fund 2026
(estimate)2027 2028 2029 2030 2031 2032 2033 2034 2035
Cash by Purpose
For future capital improvements 4,668,343 2,130,806 1,229,842 2,538,313 2,493,774 3,420,266 2,761,375 2,343,671 3,240,744 4,305,659
For following year pay-go capital 1,911,000 3,482,000 2,435,500 227,000 1,685,000 1,511,025 2,086,076 3,467,155 2,067,763 2,039,401
For 3-months of operating cash 1,033,485 1,055,866 1,008,793 1,039,905 1,074,231 1,120,318 1,400,624 1,187,398 1,226,675 1,267,248
For following year debt service 801,700 810,450 645,350 652,650 659,200 - - - - -
Ending Cash 8,414,528 7,479,122 5,319,485 4,457,869 5,912,205 6,051,610 6,248,076 6,998,223 6,535,182 7,612,308
High Volume Customer (78,000 gallons)3.0% 4.0% 3.0% 3.0% 3.0% 4.0% 4.0% 3.0% 3.0% 3.0%
Medium Volume Customer (18,000 gallons)3.0% 4.0% 3.0% 3.0% 3.0% 4.0% 4.0% 3.0% 3.0% 3.0%
Low Volume Customer (8,000 gallons)3.0% 4.0% 3.0% 3.0% 3.0% 4.0% 4.0% 3.0% 3.0% 3.0%
Average Annual % Change in Water Bill for Billing Period
8.1
DRAFT
Water Fund
Capital Improvement Plan
Water Fund EstimateProject Description 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Capital OutlayTransportation Plan 1,161,600 1,201,000 2,554,000 1,647,000 - - - 1,362,000 3,320,000 1,865,000 Wells 60,000 445,000 52,000 65,000 65,000 67,500 140,000 72,500 75,000 75,000 Boosters and misc projects 475,000 70,000 80,500 228,500 91,500 72,000 80,000 35,000 30,000 25,000 Current Year Projects - Facilities 145,000 140,000 765,500 440,000 10,000 - - - - - Water Storage & Tower Reconditioning 1,810,000 - - - - 40,000 - - - - Technology Plan - SCADA - - - - 10,000 10,500 11,025 11,576 12,155 12,763 Equipment - 55,000 - - 20,500 215,000 - 575,000 - 60,000 WTP Filter Media Replacement - -- 25,000 - 1,250,000 1,250,000 - - - WTF Rehabs & Equipment - -30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 Total Capital Outlay 3,651,600 1,911,000 3,482,000 2,435,500 227,000 1,685,000 1,511,025 2,086,076 3,467,155 2,067,763
Source of FundsBond proceeds - - - - - - - - - - Current revenue / use of cash in fund 3,651,600 1,911,000 3,482,000 2,435,500 227,000 1,685,000 1,511,025 2,086,076 3,467,155 2,067,763 Total Source of Funds 3,651,600 1,911,000 3,482,000 2,435,500 227,000 1,685,000 1,511,025 2,086,076 3,467,155 2,067,763
8.2
DRAFT
Stormwater Fund
Summary of Key Financial Information
Stormwater Fund 2026
(estimate)2027 2028 2029 2030 2031 2032 2033 2034 2035
Cash by Purpose
For future capital improvements 3,336,145 3,218,229 2,739,466 3,525,690 4,157,350 4,846,345 6,264,909 5,331,759 4,962,354 4,284,047
For following year pay-go capital 1,174,000 1,080,000 1,396,000 481,000 644,000 658,000 - 2,316,000 1,865,000 2,006,000
For 3-months of operating cash 270,260 267,316 325,793 284,541 293,567 302,880 313,741 332,974 332,639 386,947
For following year debt service 87,650 90,650 88,400 91,150 88,650 91,150 88,400 231,880 199,570 197,883
Ending Cash 4,868,055 4,656,194 4,549,659 4,382,381 5,183,567 5,898,375 6,667,050 8,212,613 7,359,563 6,874,877
Per Residential Equivalent Unit 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
Average Annual % Increase for Fees and Charges
8.
DRAFT
Stormwater Fund
Capital Improvement Plan
Stormwater Fund Estimate
Project Description 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Capital Outlay
Transportation Plan 600,490 589,000 473,000 937,000 - - - 705,000 1,630,000 1,165,000
Pond Maintenance & Retrofit 218,000 230,000 237,000 244,000 251,000 259,000 267,000 275,000 283,000 291,000
Stormwater Improvements 150,000 165,000 170,000 175,000 180,000 185,000 191,000 197,000 203,000 209,000
Stormwater Pond Planning 34,000 - - - - - - - - -
LSWMP Implementation Plan - - - - 50,000 200,000 200,000 200,000 200,000 200,000
Misc projects - 190,000 200,000 40,000 - - - - - -
Total Capital Outlay 1,002,490 1,174,000 1,080,000 1,396,000 481,000 644,000 658,000 1,377,000 2,316,000 1,865,000
Source of Funds
Bond Proceeds - - - - - - - 1,451,600 - -
Current revenue / use of cash in fund 1,002,490 1,174,000 1,080,000 1,396,000 481,000 644,000 658,000 (74,600) 2,316,000 1,865,000
Total Source of Funds 1,002,490 1,174,000 1,080,000 1,396,000 481,000 644,000 658,000 1,377,000 2,316,000 1,865,000
8.4
DRAFT
Sewer Fund
Summary of Key Financial Information
Sewer Fund 2026
(estimate)2027 2028 2029 2030 2031 2032 2033 2034 2035
Cash by Purpose
For future capital improvements 547,416 2,870,364 2,156,741 2,136,107 4,626,078 9,925,880 6,101,917 7,553,835 6,559,664 4,691,208
For following year pay-go capital 2,586,000 - 4,131,000 2,381,000 - 1,569,025 - 4,685,155 3,253,763 4,199,401
For 3-months of operating cash 985,308 994,707 1,100,174 1,108,517 1,157,011 1,266,273 2,512,461 1,361,484 1,374,856 1,435,484
For following year debt service 165,500 168,000 497,325 394,550 391,900 1,055,408 917,700 1,518,540 1,391,230 1,393,568
Ending Cash 4,284,224 4,033,071 7,885,239 6,020,174 6,174,988 13,816,586 9,532,078 15,119,014 12,579,513 11,719,660
High Volume Customer (47,000 gallons)7.5% 4.4% 3.4% 3.4% 4.0% 4.0% 3.4% 3.4% 3.4% 3.4%
Medium Volume Customer (12,000 gallons)7.3% 4.5% 3.4% 3.4% 4.0% 4.0% 3.4% 3.4% 3.4% 3.4%
Low Volume Customer (7,000 gallons)7.7% 4.4% 3.4% 3.4% 4.0% 4.0% 3.4% 3.4% 3.4% 3.4%
Average Annual % Increase for Fees and Charges
8.
DRAFT
Sewer Fund
Capital Improvement Plan
Sewer Fund Estimate
Project Description 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Capital Outlay
Transportation Plan 1,631,900 1,059,000 1,533,000 2,120,000 - - - 1,161,000 2,581,000 1,631,000
Sewer Lining - Inflow/Infiltration Prevention 468,000 482,000 496,000 511,000 526,000 542,000 558,000 575,000 592,000 610,000
Lift Station Rehabilitation 720,000 545,000 900,000 750,000 1,000,000 1,000,000 1,000,000 1,000,000 1,500,000 1,000,000
Technology Plan - SCADA 500,000 500,000 500,000 500,000 10,000 10,500 11,025 11,576 12,155 12,763
Generator/Equipment - - 125,000 250,000 845,000 85,000 - 160,000 - -
Total Capital Outlay 3,319,900 2,586,000 3,554,000 4,131,000 2,381,000 1,637,500 1,569,025 2,907,576 4,685,155 3,253,763
Source of Funds
Bond Proceeds - - 5,150,000 - - 6,815,000 - 6,188,400 - -
Current revenue / use of cash in fund 3,319,900 2,586,000 (1,596,000) 4,131,000 2,381,000 (5,177,500) 1,569,025 (3,280,824) 4,685,155 3,253,763
Total Source of Funds 3,319,900 2,586,000 3,554,000 4,131,000 2,381,000 1,637,500 1,569,025 2,907,576 4,685,155 3,253,763
8.6
DRAFT
Debt Analysis and Tax Impact
In reviewing the 2027-2031 Capital Improvement Program, the City Council should consider the
level of debt as well as the annual tax impact of the scheduled projects.
The 2027-2031 CIP includes projects that are planned to be funded by bond proceeds/debt.
Bonds are issued for the project costs that the City is funding through tax levies as well as the
costs that are specially assessed to property owners.
As of 12/31/2025, the City of Prior Lake had $24.0M in debt. The following chart reflects the
type of debt. One-third of the debt is for facilities: Water Treatment Plant (through 2030), Fire
Station #2, City Hall, and the Police Station (through 2031).
The 2027-2031 CIP anticipates the following bonding (debt issuance) needs:
•The Equipment Replacement Plan includes $3,810,000 of bonding for major equipment
replacement expenditures primarily for fire truck replacements (ladder truck in 2027 and
pumper truck in 2028).
•Bonding of $3,500,000 for major park replacement expenditures includes the replacement
for the four Ponds Parking Lots and entrance road in 2028.
•The Facilities Plan includes $11,230,000 of bonding for major facility repairs for City Hall
and Police Station replacement of membrane roofing and heating, ventilation, and air
conditioning (HVAC) updates, addition of dormitories at Fire Station #2, and parking/safety
enhancements.
Debt Type Amount as of
December 31, 2025 Purpose
G.O. Special Assessments 7,055,000 Street Improvement Projects
G.O. TIF Bonds 0 Tax Increment Project
G.O. Bonds (MV)1,565,000 Referendum Project (Fire Station #2)
G.O. Bonds 2,965,000 Street Reconstruction Projects
G.O. Bonds 3,760,000 Public Works Building and CIP Projects
G.O. Bonds 520,000 Equipment
G.O. Revenue Bonds 5,555,000 Maintenance Facility, Water Treatment
Facility & Utility Replacement Projects
G.O. Capital Improvement
Bonds 2,625,000 City Hall & Police Station
Energy Lease Loan Payable
(GESP)0 Guaranteed Energy Savings Program
Projects
Total 24,045,000
9.1
DRAFT
•The Pavement Management Plan includes bonding of $12,900,000 for transportation plan
projects and street mill & overlay projects. The repayment sources for this bonding include:
o Tax levy
o Project Special Assessment (The city provides the upfront funding for the special
assessment portion via bonding)
•The Sewer Fund includes bonding of $11,970,000 for planned expenditures for sewer
replacement costs on street reconstruction projects as well as lift station rehab, sewer
lining, and SCADA software update.
The table below summarizes the proposed bonding by fund and year:
Summary of Projected Debt Balances
The following tables reflect all bonding requirements referenced in the CIP, Pavement
Management Plan, Facilities Management Plan, and Equipment Replacement Plan.
Based on the proposed projects in the CIP, debt is projected to increase from $24.0M at the end
of 2025 to $44.0M at the end of 2031.
Fund Name
2027 2028 2029 2030 2031
Revolving Equip Fund F410 2,265,000 1,545,000 - - -
Revolving Park Equip Fund F430 - 3,500,000 - - -
Facilities Mgmt Fund F440 515,000 3,915,000 2,165,000 2,060,000 2,575,000
PIR Revolving Fund F450 - - - 710,000 -
Construction Fund F501 2,895,000 2,810,000 4,215,000 1,575,000 695,000
-
Governmental Funds Subtotal 5,675,000 11,770,000 6,380,000 4,345,000 3,270,000
Water Fund - - - - -
Stormwater Fund - - - - -
Sanitary Sewer Fund - 5,150,000 - - 6,815,000
Utility Funds Subtotal -5,150,000 - - 6,815,000
City total Debt Issuance - All funds 5,675,000 16,920,000 6,380,000 4,345,000 10,085,000
Long-Term Financial Planning
Bond Proceeds for Capital Projects
Projected Bonding by Year
2026 2027 2028 2029 2030 2031
Total Debt Outstanding (Existing & Planned)
Governmental Funds Debt Outstanding 20,980,000 22,550,000 30,225,000 32,030,000 32,680,000 32,505,000
Enterprise Funds Debt Outstanding 3,585,000 2,735,000 6,995,000 6,245,000 5,460,000 11,460,000
Total Debt Outstanding (Existing & Planned)24,565,000 25,285,000 37,220,000 38,275,000 38,140,000 43,965,000
Long-Term Financial Planning
Projected Change in Debt Outstanding
9.
DRAFT
Projected Debt per Capita:
Projected debt per capita based on the current capital projects planned is shown in the table
below. The city is working to manage its debt load while providing needed capital replacement
projects in a growing city.
Bond Repayment through Debt Service Tax Levy:
The table below is a summary of the annual projected total CIP tax levy by component.
Bond Repayment Debt Service supported by Utility Fund Revenues:
•The projected annual debt service for the utility funds is shown below:
CIP Impact on Long Range Financial Plan:
The financial plan incorporates the debt and tax levy impacts of the Capital Improvement
Program. Approval of the CIP does not obligate the city to complete the proposed projects or
purchases. The 2027 projects/proposed purchases will be incorporated into the 2027 budget
requests for budgeted funds. Further Council approvals may be necessary to comply with state
statutes and the city’s purchasing policy.
The city’s financial planning reflects funding general operations, future planned capital
improvements, including related debt service on planned bond issuance to support capital
2026 2027 2028 2029 2030 2031
Debt Per Capita (assumes population growth)
Debt Per Capita 868 890 1,304 1,328 1,311 1,497
Long-Term Financial Planning
Projected
2027 2028 2029 2030 2031
Debt Service Levy 3,454,655 3,889,440 4,390,759 4,060,724 3,530,139
Equipment Revolving Fund 1,025,000 1,075,000 1,075,000 1,150,000 1,200,000
Revolving Park Equip Fund 655,000 705,000 705,000 750,000 800,000
Facilities Management Fund 355,000 405,000 555,000 600,000 650,000
PIR Fund - - - - -
Total CIP Tax Levies 5,489,655 6,074,440 6,725,759 6,560,724 6,180,139
CIP Tax Levies:Projected CIP Tax Levy
2027 2028 2029 2030 2031
Water 801,700 810,450 645,350 652,650 659,200
Sewer 165,500 168,000 497,325 394,550 391,900
Stormwater 87,650 90,650 88,400 91,150 88,650
2027-2031 CIP
Projected Debt Service (funded by Utility Fund
Revenues)
9.
DRAFT
improvements for streets, equipment replacement and facilities capital maintenance projects.
Debt repayment is based on level annual debt service payments.
Funding for proposed projects in the CIP results in an estimated 10-year average tax levy increase
of 6.8% and an estimated 10-year average tax rate increase of 3.0%. This is in line with the
parameters established in the city’s 2023 long range financial planning study.
The estimated tax levies and tax rate projections for the city’s five-year financial plan are shown
below.
CITY OF PRIOR LAKE
CITY PROPERTY TAX PROJECTION
2026 2027 2028 2029 2030 2031
TAX LEVIES
General Fund Levy - Tax Capacity 16,267,024 16,864,136 18,032,656 19,595,626 20,819,085 22,357,525
General Fund Levy - Market Value 265,888 273,988 281,638 283,838 290,738 277,888
Debt Service Fund 2,979,220 3,454,655 3,889,440 4,390,759 4,060,724 3,530,139
CIP Funds 1,825,000 2,035,000 2,185,000 2,335,000 2,500,000 2,650,000
Total Tax Levies 21,337,132 22,627,779 24,388,735 26,605,223 27,670,547 28,815,553
Annual $ Change 1,485,227 1,290,646 1,760,956 2,216,489 1,065,324 1,145,006
TOTAL % CHANGE IN TAX LEVIES 7.5%6.0%7.8%9.1%4.0%4.1%
CITY TAX CAPACITY TAX RATE 32.03% 33.54%35.45%35.77%36.05%
Annual % Change 2.07%4.72%5.69%0.92%0.77%
Debt per Capita 868 890 1,304 1,328 1,311 1,497
Bonds Outstanding 24,565,000 25,285,000 37,220,000 38,275,000 38,140,000 43,965,000
Change in Bonds Outstanding 720,000 11,935,000 1,055,000 (135,000) 5,825,000
Five Year Planning Period
9.4
DRAFT
Financial Management Plan
2027-2031
August 12, 2026
10.1
DRAFT
The City’s Financial Management Plan is intended to serve as a planning tool providing
the Council and the public with the insight required to address issues that impact the City’s
financial condition. The financial plan is presented to the City Council annually. The
financial plan discusses and views City finances from a wider perspective and serves as
a preliminary step in the annual budget and capital improvement planning processes to
aid in determining the annual needs of the City.
The City’s financial plan reflects funding for the following needs:
•General operations
•Future planned capital improvements
•Debt service on planned bond issuance to support capital improvements for
streets, equipment replacement, facilities capital maintenance projects and park
improvements.
•Water/Sewer/Storm Water Utility operations and capital needs
Trend Analysis
The City’s financial trends and planning assumptions are analyzed annually with many
factors utilized to understand the financial condition of the City. These factors include:
•Property Types
•Market Value, Tax Capacity, Adjustments
•Levy Components, Taxes, Tax Rates
•Population
•Staffing per the City’s five-year Personnel Plan
•Labor Relations
•Economy
•Growth including residential and commercial development
•Non-tax revenue sources
•Inflation factors
•Unfunded mandates
The City’s financial plan incorporates the trends and planning assumptions to model the
current and anticipated financial condition of the City including:
•Tax Levy and Tax Rate Projections
•General Fund Projections
•Capital Improvement Program Projections and Levy Impacts
•Utility Services Financial Management Plan
•Debt and Debt Levy Projections
Tax Levy and Tax Rate Projections
The City’s financial plan models and projects the property tax levy needed to fund the
City’s needs and the resulting City tax rate that will be applied to a property based on
valuation factors.
10.
DRAFT
General Fund Projections: General Fund Projections provide an assessment and impact
of anticipated staffing needs, inflationary changes, and unfunded mandates on the City’s
operations and estimated impact on property taxes and rates.
Capital Improvement Program Projections: The Capital Improvement Program (CIP) is
one of the City’s long-term financial planning tools. The CIP is updated on an annual basis.
The CIP is designed to identify infrastructure improvements and the associated funding
sources needed due to ongoing maintenance, repair, and community growth. The
following long-term planning documents are part of the CIP: Pavement Management Plan,
Equipment Replacement Plan, Park Equipment Replacement Plan, Technology Plan,
Facilities Management Plan and financial management plans for each of the three
enterprise funds including Water, Sewer, and Storm Water. The financial plan incorporates
the debt and tax levy impacts of the Capital Improvement Program.
Utility Services Financial Management Plans: The financial management plans for
water, sewer and stormwater utility services are updated as part of the CIP and achieve
the following goals:
•Rate Calculation: Provide a rate calculation that results in equitable and competitive
fixed versus variable portion charge to customers and considers conservation impact
of tiers and block rates.
•Revenue Sufficiency: Focus on revenue sufficiency to provide cash balances that
support the following objectives:
o Revenue to meet current and future obligations.
o Avoid future debt issuance consistent with City objectives.
o Cash on-hand to provide:
•Three-months of operating expense
•Following-year debt service payments
•Following year capital acquisition (planned to be paid from cash)
•Reserves for replacement of infrastructure located under private
streets.
•Reserves for future capital improvements
Debt Management Plan Debt and Debt Levy Projections: Based on current and
planned projects in the City’s capital improvement plan, debt and debt service tax levy are
projected. The projected debt issuance is for capital improvements for streets, equipment
replacement, facilities capital maintenance projects, and park improvements as planned
in the CIP.
10.
DRAFT
Table of Contents
City Property Tax Projection …..……………………………………………………. 1-2
Summary Tax Levy …………………………………………………………………………. 3
Summary Tax Rate …………………………………………………………………………. 4
General Fund Summary ……………………………………………………………………. 5
Chart Data through 2031:
Chart 1 Debt Service Tax Levy ……………………………………………………………. 6
Chart 2 General Fund Ending Fund Balance ……………………………………………... 7
Chart 3 City Tax Rate (Tax Capacity Rate) ……………………………………………...... 8
Chart 4 Total Tax Capacity (TC) Levy and Annual % Change in TC Levy and TC Tax Rate …………... 9
Chart 5 Total Market Value (MV) Levy and Annual % Change in MV Levy and MV Tax Rate ………. 10
Chart 6 Example Residential Properties City Property Taxes ……………………......... 11
Chart 7 Example Commercial Properties City Property Taxes ……………………....... 12
10.4
DRAFT
CITY OF PRIOR LAKE
PROPERTY TAX PROJECTION SUMMARY - CITY ONLY
Adopted
Budget 2026
Proposed
Budget 2027
Projected
2028
Projected
2029
Projected
2030
Projected
2031
CITY TAX LEVIES (TAX CAPACITY AND REFERENDUM LEVIES)
General Fund Levy - Tax Capacity 16,267,024 16,864,136 18,032,656 19,595,626 20,819,085 22,357,525
General Fund Levy - Market Value 265,888 273,988 281,638 283,838 290,738 277,888
Debt Service Fund 2,979,220 3,454,655 3,889,440 4,390,759 4,060,724 3,530,139
Revolving Equip Fund F410 925,000 1,025,000 1,075,000 1,075,000 1,150,000 1,200,000
Revolving Park Equip Fund F430 595,000 655,000 705,000 705,000 750,000 800,000
Facilities Mgmt Fund F440 305,000 355,000 405,000 555,000 600,000 650,000
PIR Revolving Fund F450 - - - - - -
Construction Fund F501 - - - - - -
Trunk Fund F502 - - - - - -
Street Oversizing Fund F503 - - - - - -
EDA Fund - - - - - -
TOTAL % CHANGE IN TAX LEVIES 7.5%6.05%7.8%9.1%4.0%4.1%
CITY TAX CAPACITY TAX RATE 31.38%32.03%33.54%35.45%35.77%36.05%
Annual % Change - City Only Excludes EDA 2.90%2.07%4.72%5.69%0.92%0.77%
CITY MARKET VALUE TAX RATE 0.00451%0.00448%0.00442%0.00429%0.00422%0.00388%
Annual % Change -2.79%-0.82%-1.16%-3.10%-1.51%-8.10%
EDA TAX CAPACITY TAX RATE 0.60%0.60%0.59%0.59%0.59%0.59%
Annual % Change -4.67%-0.78%-0.23%-0.58%-0.09%-0.44%
10.5
DRAFT
CITY OF PRIOR LAKE
PROPERTY TAX PROJECTION SUMMARY
2026 2027 2028 2029 2030 2031
Adopted Preliminary
Budget
Projected Projected Projected Projected
PRIOR YEAR TAX LEVIES
General Fund 14,848,732 16,267,024 16,864,136 18,032,656 19,595,626 20,819,085
Debt Service Fund 3,188,173 3,245,108 3,728,643 4,171,078 4,674,597 4,351,462
Capital Park Fund F225 - - - - - -
Revolving Equip Fund F410 1,025,000 925,000 1,025,000 1,075,000 1,075,000 1,150,000
Revolving Park Equip Fund F430 535,000 595,000 655,000 705,000 705,000 750,000
Facilities Mgmt Fund F440 255,000 305,000 355,000 405,000 555,000 600,000
PIR Revolving Fund F450 - - - - - -
Construction Fund F501 - - - - - -
Trunk Fund F502 - - - - - -
Street Oversizing Fund F503 - - - - - -
EDA Fund 405,000 405,000 418,296 430,845 443,770 457,083
Grand Total 20,256,905 21,742,132 23,046,074 24,819,579 27,048,993 28,127,630
SUMMARY OF CHANGE IN TAX LEVIES
GENERAL FUND
Revenue Changes
MV Debt Service Levy (3,400) (8,100) (7,650) (2,200) (6,900) 12,850
Non Tax Revenues (396,529) (866,152) 26,627 (71,940) (330,208) 35,382
Net Change Non Tax Revenues (399,929) (874,252) 18,977 (74,140) (337,108) 48,232
Expense Changes
Current expenditures (2,664) 474,681 268,297 279,029 290,190 301,797
Other financing uses - - - - - -
Personnel 1,283,557 947,583 999,397 1,172,081 1,260,477 1,175,261
Capital Outlay (57,610) (40,000) 4,000 - - -
Capital Outlay - Technology 132,000 (49,000) 200 (66,200) 3,000 1,000
Transfer out to DS fund 3,400 138,100 (122,350) 2,200 6,900 (12,850)
Transfer out to other funds - - - - - -
Non-recurring mid-year adjustments - - - - - -
Net Change Expenses 1,358,683 1,471,364 1,149,543 1,387,110 1,560,567 1,465,209
Other Changes
Other source (use) of General Fund Reserves not included
in original adopted budget
- - -
Budgeted source (use) of General Fund Reserves 459,538 - - 250,000 - 25,000
Net Other Changes 459,538 - - 250,000 - 25,000
GENERAL FUND 1,418,292 597,112 1,168,520 1,562,969 1,223,459 1,538,441
DEBT SERVICE FUNDS
Existing Debt 53,535 475,434 (218,067) (885,393) (579,590) (838,515)
Proposed Debt - - 652,852 1,386,712 249,555 307,930
MV Debt 3,400 8,100 7,650 2,200 6,900 (12,850)
DEBT SERVICE FUNDS 56,935 483,534 442,436 503,519 (323,135) (543,435)
OTHER FUNDS
Capital Park Fund F225 - - - - - -
Revolving Equip Fund F410 (100,000) 100,000 50,000 - 75,000 50,000
Revolving Park Equip Fund F430 60,000 60,000 50,000 - 45,000 50,000
Facilities Mgmt Fund F440 50,000 50,000 50,000 150,000 45,000 50,000
PIR Revolving Fund F450 - - - - - -
Construction Fund F501 - - - - - -
Trunk Fund F502 - - - - - -
Street Oversizing Fund F503 - - - - - -
EDA Fund - 13,296 12,549 12,925 13,313 13,712
OTHER FUNDS 10,000 223,296 162,549 162,925 178,313 163,712
TOTAL CHANGE IN TAX LEVIES 1,485,227 1,303,942 1,773,505 2,229,414 1,078,637 1,158,718
ALL CITY PLUS EDA TAX LEVIES
General Fund 16,267,024 16,864,136 18,032,656 19,595,626 20,819,085 22,357,525
Debt Service Fund 3,245,108 3,728,643 4,171,078 4,674,597 4,351,462 3,808,027
Capital Park Fund F225 - - - - - -
Revolving Equip Fund F410 925,000 1,025,000 1,075,000 1,075,000 1,150,000 1,200,000
Revolving Park Equip Fund F430 595,000 655,000 705,000 705,000 750,000 800,000
Facilities Mgmt Fund F440 305,000 355,000 405,000 555,000 600,000 650,000
PIR Revolving Fund F450 - - - - - -
Construction Fund F501 - - - - - -
Trunk Fund F502 - - - - - -
Street Oversizing Fund F503 - - - - - -
EDA Fund 405,000 418,296 430,845 443,770 457,083 470,796
Grand Total 21,742,132 23,046,074 24,819,579 27,048,993 28,127,630 29,286,348
CURRENT YEAR TAX LEVIES ANNUAL % CHANGE
General Fund 9.6%3.7%6.9%8.7%6.2%7.4%
Debt Service Fund 1.8%14.9%11.9%12.1%-6.9%-12.5%
Capital Park Fund F225
Revolving Equip Fund F410 -9.8%10.8%4.9%0.0%7.0%4.3%
Revolving Park Equip Fund F430 11.2%10.1%7.6%0.0%6.4%6.7%
Facilities Mgmt Fund F440 19.6%16.4%14.1%37.0%8.1%8.3%
PIR Revolving Fund F450
Construction Fund F501
Trunk Fund F502
Street Oversizing Fund F503
EDA Fund 0.0%3.3%3.0%3.0%3.0%3.0%
Grand Total 7.33%6.00%7.70%8.98%3.99%4.12%
CURRENT YEAR TAX CAPACITY TAX LEVIES
General Fund 16,267,024 16,864,136 18,032,656 19,595,626 20,819,085 22,357,525
Debt Service Fund 2,979,220 3,454,655 3,889,440 4,390,759 4,060,724 3,530,139
Capital Park Fund F225 - - - - - -
Revolving Equip Fund F410 925,000 1,025,000 1,075,000 1,075,000 1,150,000 1,200,000
Revolving Park Equip Fund F430 595,000 655,000 705,000 705,000 750,000 800,000
Facilities Mgmt Fund F440 305,000 355,000 405,000 555,000 600,000 650,000
PIR Revolving Fund F450 - - - - - -
Construction Fund F501 - - - - - -
Trunk Fund F502 - - - - - -
Street Oversizing Fund F503 - - - - - -
EDA Fund 405,000 418,296 430,845 443,770 457,083 470,796
Grand Total 21,476,244 22,772,086 24,537,941 26,765,155 27,836,892 29,008,460
Annual % Change 7.41%6.03%7.75%9.08%4.00%4.21%
CURRENT YEAR REFERENDUM TAX LEVIES
General Fund
Debt Service Fund 265,888 273,988 281,638 283,838 290,738 277,888
Capital Park Fund F225
Revolving Equip Fund F410
Revolving Park Equip Fund F430
Facilities Mgmt Fund F440
PIR Revolving Fund F450
Construction Fund F501
Trunk Fund F502
Street Oversizing Fund F503
EDA Fund
Grand Total 265,888 273,988 281,638 283,838 290,738 277,888
Annual % Change 1.30%3.05%2.79%0.78%2.43%-4.42%
10.6
DRAFT
CITY OF PRIOR LAKE
PROPERTY TAX LEVY, TAX CAPACITY, AND TAX RATE
2026 2027 2028 2029 2030 2031
Certified Preliminary
Budget
Projected Projected Projected Projected
TAX LEVY (TAX CAPACITY)
General Fund 16,267,024 16,864,136 18,032,656 19,595,626 20,819,085 22,357,525
Debt Service Fund 2,979,220 3,454,655 3,889,440 4,390,759 4,060,724 3,530,139
Capital Park Fund F225 - - - - - -
Revolving Equip Fund F410 925,000 1,025,000 1,075,000 1,075,000 1,150,000 1,200,000
Revolving Park Equip Fund F430 595,000 655,000 705,000 705,000 750,000 800,000
Facilities Mgmt Fund F440 305,000 355,000 405,000 555,000 600,000 650,000
PIR Revolving Fund F450 - - - - - -
Construction Fund F501 - - - - - -
Trunk Fund F502 - - - - - -
Street Oversizing Fund F503 - - - - - -
EDA Fund - - - - - -
Total Tax Levies 21,071,244 22,353,791 24,107,097 26,321,385 27,379,809 28,537,665
Annual % Change 7.56%6.09%7.84%9.19%4.02%4.23%
Fiscal Disparities Distribution 1,281,579 1,281,579 1,281,579 1,281,579 1,281,579 1,281,579
Net Tax Levy 19,789,665 21,072,212 22,825,518 25,039,806 26,098,230 27,256,086
Annual % Change 8.07%6.48%8.32%9.70%4.23%4.44%
TAX CAPACITY
Total Tax Capacity (TC) Before New Construction 65,476,476 67,955,915 70,130,504 72,374,680 74,690,670 77,304,844
TC from Projected New Construction - 379,607 465,938 805,625 807,813 810,000
Total TC with Projected New Construction 65,476,476 68,335,522 70,596,442 73,180,305 75,498,483 78,114,844
Fiscal Disparities TC Contribution 2,305,933 2,444,101 2,444,101 2,444,101 2,444,101 2,444,101
TIF TC 108,272 101,461 101,461 101,461 101,461 63,045
Net Tax Capacity (NTC)63,062,271 65,789,960 68,050,880 70,634,743 72,952,921 75,607,698
Annual % Change 5.03%4.33%3.44%3.80%3.28%3.64%
TAX CAPACITY TAX RATE 31.381%32.030%33.542%35.450%35.774%36.049%
Annual % Change 2.90%2.07%4.72%5.69%0.92%0.77%
TAX LEVY (REFERENDUM)265,888 273,988 281,638 283,838 290,738 277,888
Annual % Change 3.05%2.79%0.78%2.43%-4.42%
MARKET VALUE (REFERENDUM)5,890,823,445 6,120,171,910 6,364,978,786 6,619,577,938 6,884,361,055 7,159,735,498
MARKET VALUE TAX RATE 0.004514%0.00448%0.004425%0.004288%0.004223%0.003881%
Annual % Change -2.79%-0.82%-1.16%-3.10%-1.51%-8.10%
10.7
DRAFT
CITY OF PRIOR LAKE
General Fund
2025 2026 2027 2028 2029 2030 2031
Actual Forecast Preliminary
Budget
Projected Projected Projected Projected
REVENUE AND OTHER SOURCES
Current tax 13,570,416 14,985,445 15,582,557 16,944,935 18,507,905 19,728,503 21,265,472
MV Tax Levy in General Fund 262,488 265,888 273,988 281,638 283,838 290,738 277,888
Fiscal disparities distribution 1,278,316 1,281,579 1,281,579 1,087,721 1,087,721 1,087,721 1,087,721
Property Tax 15,111,220 16,532,912 17,138,124 18,314,294 19,879,464 21,106,962 22,631,081
Special assessments 4,611 4,000 4,000 4,000 4,000 4,000 4,000
Franchise fees 518,830 528,000 513,500 513,500 513,500 513,500 513,500
Charges for services 1,267,227 1,325,329 1,437,359 1,416,711 1,431,386 1,446,390 1,470,491
Fines & forfeitures 99,753 108,000 108,000 109,080 110,171 111,273 112,385
Intergovernmental revenue 4,069,215 4,033,388 4,413,930 4,422,876 4,452,388 4,735,969 4,630,819
Licenses & permits 622,493 472,710 708,790 718,515 723,453 732,343 748,394
Miscellaneous revenues 1,005,624 420,800 515,800 556,309 558,271 559,546 567,084
Other financing sources - - - - - - -
Property tax other (39,442) - - - - - -
Sale of property and capital assets 22,634 - - - - - -
Transfer in from other funds 626,975 668,000 725,000 658,760 678,523 698,879 719,845
Total Revenues and Other Fund Sources 23,309,140 24,093,139 25,564,503 26,714,046 28,351,156 29,908,862 31,397,599
EXPENDITURES AND OTHER USES
Current expenditures - (6,232,737) (6,707,418) (6,975,715) (7,254,743) (7,544,933) (7,846,730)
Other financing uses - -- - - - -
Personnel (21,608,394) (17,396,514) (18,344,097) (19,343,494) (20,515,575) (21,776,052) (22,951,313)
Capital Outlay (157,224) (66,000) (26,000) (30,000) (30,000) (30,000) (30,000)
Capital Outlay - Technology - (132,000) (83,000) (83,200) (17,000) (20,000) (21,000)
Transfer out to DS fund (262,488) (265,888) (403,988) (281,638) (283,838) (290,738) (277,888)
Transfer out to other funds (290,257) - - - - - -
Overhead Allocation to Enterprise Funds - - - - - - -
Total Expenditures and Other Uses (22,318,363) (24,093,139) (25,564,503) (26,714,046) (28,101,156) (29,661,723) (31,126,931)
CHANGE IN FUND BALANCE 990,777 - - - 250,000 247,139 270,668
Explanation of Total Revenue Over Expense:
Budgeted source (use) of fund balance - - 250,000 250,000 275,000
Other revenue over (under) expense 990,777 - -
Beginning Fund Balance 13,411,569 14,402,346 14,402,346 14,402,346 14,402,346 14,652,346 14,899,485
Ending Fund Balance 14,402,346 14,402,346 14,402,346 14,402,346 14,652,346 14,899,485 15,170,153
Ending Fund Balance as % of Expense 60%56%54%51%49%48%47%
10.8
DRAFT
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
$4.5
$5.0
2025 2026 2027 2028 2029 2030 2031
Mi
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Debt Service Tax Levy
All City Funds
New
Existing Ref
Existing
10.9
DRAFT
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
$0.0
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2025 2026 2027 2028 2029 2030 2031
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Ending Fund Balance
Ending Fund Balance Ending Fund Balance as % of Expense Fund Balance Target
10.10
DRAFT
30.46%
28.10%
30.28%30.50%31.38%32.03%33.54%
35.45%35.77%36.05%
0.0%
5.0%
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15.0%
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2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
City Tax Rate
Tax Capacity Rate
10.11
DRAFT
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
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$0.0
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2025 2026 2027 2028 2029 2030 2031
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Total Tax Capacity (TC) Levy and Annual % Change in TC Levy and
TC Tax Rate
Total Tax Levy (Spread on Tax Capacity)Annual % Change in Total Tax Levy Annual % Change in Tax Rate
10.12
DRAFT
-10.0%
-8.0%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
$0.2
$0.3
$0.3
$0.3
$0.3
$0.3
$0.3
$0.3
$0.3
$0.3
$0.3
2025 2026 2027 2028 2029 2030 2031
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Total Market Value (MV) Levy and Annual % Change in MV Levy and MV Tax
Rate
Total Tax Levy (Spread on Market Value)Annual % Change in Total Tax Levy Annual % Change in Tax Rate
10.13
DRAFT
3.8%
3.9%
4.0%
4.1%
4.2%
4.3%
4.4%
4.5%
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
$9,000
2026 2027 2028 2029 2030 2031
%
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Example Residential Properties
City Property Taxes
Residential $433,600 Residential $600,000
Residential $844,595 Residential $1,500,000
Percent Change in Market Value of Example Properties:
Note: The change in City Property Taxes reflects the impact of projected change in City Tax Rate and the impact of projected change in
estimated taxable market value of the example properties.
10.14
DRAFT
3.8%
3.9%
4.0%
4.1%
4.2%
4.3%
4.4%
4.5%
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
2026 2027 2028 2029 2030 2031
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Example Commercial Properties
City Property Taxes
Commercial $1,000,000 Commercial $2,000,000
Commercial $3,000,000 Commercial $4,000,000
Percent Change in Market Value of Example Properties:
Note: The change in City Property Taxes reflects the impact of projected change in City Tax Rate and the impact of projected change in
estimated taxable market value of the example properties.
10.15
DRAFT
PriorLakeMN.gov August 12, 2026 PUBLIC HEARINGIMPROVEMENT PROGRAM 2031 CAPITAL -2027
PriorLakeMN.gov Purpose majority (4 of 5 council members) for approval. Approval of the Street Reconstruction Plan requires a super simple majority (3 of 5 council members) for approval.Approval
of the Capital Improvement Plan for facilities requires a facilities capital and street reconstruction bondsPublic hearing required by state statute when planning to issue Improvement
Plan and Street Reconstruction Plan2031 Capital Improvement Program, Facilities Capital -2027Conduct a public hearing on the proposed projects within the
PriorLakeMN.gov What is the CIP?sources.plan that includes estimated project costs and funding year -year planning document. It is a five-The CIP is a multiThe CIP is the Capital
Improvement Program
PriorLakeMN.gov4 2031 CIP-August 12: Public Hearing and Adopt 2027•July 28: Utility Financial Plans Review and Financial Impacts•June 23: Capital Plans Review•2031 CIP Schedule-2027
PriorLakeMN.gov5 Water Quality Financial Plan8)Sanitary Sewer Financial Plan7)Water Financial Plan6)Technology Plan5)Facilities Management Plan4)Park Plan3)Equipment Replacement Plan2)Pavement
Management Plan1)Year Plans Included in the CIP-Multi
Pavement ManagementPlan
PriorLakeMN.gov7 Pavement Management Plan Map
PriorLakeMN.gov.sizesmeterandusagetheironbasedpayindustrialandCommercial.electric)60.5$andgas60.5$(monthper20.11$isfee2027-2025The•.(CCI)IndexConstructionCommercialtheperincreasesinflationaryaddresst
o”2025“payforupdatedwereThey.yearsthreeeveryreviewedarefeefranchiseThe.CIPyear-fivetheforM/year5.1$aboutofrevenuefeefranchiseelectricandgasannualincludesmanagementpavementforFunding•8
Pavement Management Plan
PriorLakeMN.gov9 An incremental tax levy increase to accommodate our replacement needs•additional street maintenance trucks.replacements (ladder truck in 2027 and pumper truck in 2028)
and The updated financing plan includes debt issuance of $3.8M for fire truck •The annualized cost of the equipment replacement is $1.7M. •Shifted replacement years whenever possible
to smooth the levy impact•Updated vehicle costs and inflationary factors•Reviewed equipment for condition, safety and functionality•Equipment Replacement Plan
PriorLakeMN.gov10 Equipment Replacement Plan
PriorLakeMN.gov11 capital maintenance and replacement needs.The plan includes a phased increase in the tax levy to accommodate our •Parks funding discussions are ongoing•city’s future
needs and location of new parks. plan includes current parks and proposed changes/updates as well as the Council approval of the Park and Trail System Plan on March 12, 2024. This •Park
Plan
PriorLakeMN.gov12 Capital Park and Revolving Park Funds
PriorLakeMN.gov13 Year)-Park Plan (5
PriorLakeMN.gov14 ParkRyanThomasatremodelBathroom•enhancementsParking/safety•updatesHVAC•roofingMembrane•:includerepairsThese.LibraryandStationPoliceHall,CityforrepairsfacilitymajorforCIPyear-fivethe
overM2.11$ofBondsIssue•facility maintenance and replacement needsThe plan includes a phased increase in the tax levy to accommodate our •Plans for major maintenance and replacements•Facilities
Management Plan
PriorLakeMN.gov15 Facility Management Plan
PriorLakeMN.gov16 Technology Plan
PriorLakeMN.gov 3.0%–Stormwater 4.5% (includes MCES increase)–Sewer 4.0%–Water follows:Proposed rate changes for 2027 are as $1,461,270-2033 •Stormwater fund:$6,178,730-2033 •$6,815,000-2031
•$5,150,000-2028 •Sewer fund:no debt issuance–Water fund year plan as follows: -tenfinancial model reflects debt issuance in the rates charged and/or debt issuance. The Funding for
utility funds is achieved through and stormwater respectively. $6.8M, $5.3M and $2.7M for water, sewer, projects: management plan street reconstruction funding needs to support the
pavement year total Water/Sewer/Stormwater -The 5 17 PlanUtility Funds Financial Management
PriorLakeMN.gov Monthly Utility Bill:-Sample Bi 18 All Funds–Utility Bill Combined Impact
PriorLakeMN.gov in 2032for the maintenance center expansion year plan reflects $37M in bonds -10$44.0M at the end of 2031.from $24.0M at the end of 2025 to the CIP, debt is projected
to increase Based on the proposed projects in 19
PriorLakeMN.gov20 City Property Tax Projection
PriorLakeMN.gov to be ~$1,500per Capita projected 2031 Prior Lake Debt 2025End-Per Capita as of YearBar Chart: G.O. Debt 21 Debt Per Capita Projection
PriorLakeMN.gov22 Approve Issuance of Street Reconstruction Bonds and Adopt the Street Reconstruction Plan 3)Approve Issuance of CIP Bonds and Adopt Facilities Capital Improvement Plan
2)2031 Capital Improvement Program (CIP) -Approve the 2027 1)Three Resolutions:-Plan Adoption Public Hearing
Questions/Discussion