TO: Mayor and City Council
THROUGH: Keith Stahley, City Manager
FROM: Josh Eggleston, Chief Financial Officer
SUBJECT:
title
Capital Improvement Plan for FY 2025 through FY 2029
Ward(s): All Wards
Councilor(s): All Councilors
Neighborhood(s): All Neighborhoods
Result Area(s): Good Governance; Safe and Healthy Community; Safe, Reliable and Efficient Infrastructure; Strong and Diverse Economy; Welcoming and Livable Community.
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SUMMARY:
summary
The Capital Improvement Plan (CIP), governed by Council Policy C-9 (Resolution 2008-142), includes the following goals: create a transparent CIP process; establish a risk-based priority list; match the priority list to limited resources in a thoughtful and responsible manner; and establish an internal CIP review committee to oversee the process. The adoption of the CIP this evening will affirm the Budget Committee’s recommendation after their review of the CIP in April.
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ISSUE:
Shall the City Council adopt the Capital Improvement Plan for FY 2025 through FY 2029 as recommended by the Budget Committee?
RECOMMENDATION:
recommendation
Adopt the Capital Improvement Plan for FY 2025 through FY 2029 as recommended by the Budget Committee.
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FACTS AND FINDINGS:
The CIP consists of planned capital projects that are expected to cost $490,715,370 over the next five-year period. The CIP includes four groups of projects that are funded at the following levels:
Community Facilities - $33,619,320
Municipal Facilities - $85,210,600
Transportation - $180,152,880
Utilities - $191,732,570
BACKGROUND:
The City of Salem Budget Committee held a public hearing for the CIP on April 24, 2024. Staff provided notice to the community and at the public hearing, provided a presentation about capital planning and the anticipated projects. At the conclusion of the public hearing, the Budget Committee recommended the CIP to the City Council for consideration.
Staff has presented a revised Council Policy C-9 to the Finance Committee which was recommended to the City Council for adoption. The revised policy will return to Council in the summer for consideration and approval.
James Wharton-Hess
Sr. Fiscal Analyst
Attachments:
1. Recommended Capital Improvement Plan for FY 2025 through FY 2029