Title
Briefing on the Preliminary Capital Facilities Plan (CFP)
Recommended Action
City Manager Recommendation:
Discuss the Preliminary CFP scheduled for the Council’s agenda on July 21.
Report
Issue:
Preliminary look at the 2016-2021 CFP.
Staff Contact:
Jane Kirkemo, Administrative Services Director, 360.753.8499
Presenter(s):
Jane Kirkemo, Administrative Services Director
Background and Analysis:
The City Manager is required to present a six-year CFP to the City Council for adoption. The CFP must be balanced (revenues received realistically pay for proposed projects). Such planning involves determining not only where the facilities will be needed, but also when; and not only how much they will cost, but also how they will be paid for, as well as maintained. The Preliminary CFP usually goes to the Finance Committee for review.
Because the City of Olympia collects impact fees for the Olympia School District, their CFP must be incorporated into our CFP document before final adoption. A draft school district CFP will be included in the Council’s document on July 21. In addition, any Thurston County project within the Olympia boundaries or the Urban Growth Management Area should be included in the final document.
The six-year plan is $133 million or 3% less than the current plan. The decrease is predominantly a drinking water grant ($12 million) that is shown in the current plan.
The Preliminary CFP assures 100% of the Real Estate Excise Tax (REET) money will be spent on capital projects. As the operating budget progresses, the Council could choose to use some portion of REET funds to balance the operating budget.
The CFP goals and policies have been included this year in the CFP. The Planning Commission reviewed the goals and policies and their revisions are included in the CFP.
Neighborhood/Community Interests (if known):
Neighborhoods are always interested in all of the projects in their area.
Options:
Discussion only.
Financial Impact:
The 2016-2021 CFP is $133 million. The 2016 budget is $23.3 million. The 2016 CFP includes one-time revenue available from REET as well as the Transportation Benefit District. There are sufficient revenues from approximately 16 different sources to cover this plan.