Subject:
Title
Approval of Capital Improvement Plan through 2034
Body
EXPLANATION AND SUMMARY:
During the September 19, 2016 work session, Council reviewed the Capital Improvement Plan (CIP) through 2034, including forecasted projects through 2034 and a review of the status of projects from the 2012, 2014, and 2016 bonds. The main items in the revised CIP plan are a police station and parking garage. The plan is to finance the parking garage through a 1% increase in the meals tax rate for 15 years from 2017-33.
The Capital Improvement Plan through 2034, as revised at the work session, is presented for approval.
Departmental Recommendation: Recommend approval.
Finance Recommendation: Recommend approval.
Purchasing Recommendation: N/A
Town Attorney Recommendation: Town Council may approve the proposed Capital Improvement Plan in its discretion. Formal approval of any bond issue, tax increase, and award of contracts will require specific action by Town Council.
Town Manager's Recommendation: I recommend the Town Council approve the Capital Improvement Plan through 2034 as presented.
Cost and Financing: N/A
Account Number: various
Decision Needed by This Date: 9/26/16
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to approve the Capital Improvement Plan through 2034 as updated at the September 19, 2016 Council work session."
Or
Other action deemed necessary by Council.