Subject:
Title
Adopt 2022 Capital Improvement Plan (CIP)
Body
EXPLANATION AND SUMMARY:
As part of its long-term planning, the Town of Vienna staff prepares a 15-20 year capital planning document for Council review and approval on an annual basis. On the even-numbered years the Town goes out for bond funding to finance the current year of the plan.
The 2022 CIP was presented to Council for discussion on Sept. 26, 2021 and was discussed on Oct. 25, 2021. As the Town has also received a $17.1 million grant from the federal American Rescue Plan Act (ARPA) that can also be used for capital projects, there were several discussions on how to allocate projects between ARPA and CIP funding.
Presented for Council approval is a balanced CIP plan for fiscal years 2022 - 2036. The total amount of the proposed 2022 bond is $10,742,500 of which $6,794,500 will be repaid with meals taxes and $3,948,000 will be repaid with water and sewer fees.
Staff recommends approval of the plan as presented.
Strategic Plan Initiative: Vienna is a fiscally responsible community.
Board or Commission of Interest: None
Departmental Recommendation: Recommend approval of CIP as presented.
Finance Recommendation: Recommend approval of CIP as presented.
Purchasing Recommendation: N/A
Town Attorney Recommendation: Town Council may adopt the proposed long term Capital Improvement Plan in its discretion. Funding for any specific project will go through normal procurement and Town Council approval procedures.
Town Manager's Recommendation: I recommend the Town Council approve the Capital Improvement Plan, as presented.
Cost and Financing: $10,742,500
Account Number: various
Decision Needed by This date: Jan. 24, 2022
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to approve the Capital Improvement Plan as presented"
Or
Other action deemed necessary by Council.