Title
Agenda Item:
Presentation of Preliminary Capital Facilities Plan (CFP)
Body
Issue:
Committee will review any changes to the Preliminary CFP and make recommendations for the full Council.
City Manager's Recommendation:
Review Preliminary CFP and ask staff for any additional information or analysis.
Staff Contact:
Jane Kirkemo, Administrative Services Director, 360.753.8499
Presenter(s):
Jane Kirkemo, Administrative Services Director
Background and Analysis:
Each year, the City Manager is required to present a six- year Capital Facilities Plan (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 when; not only how much they will cost, but how they will be paid for as well as maintained.
Because the City of Olympia collects impact fees for the Olympia School District, their CFP must be incorporated into our CFP document and process before final adoption. The school district's CFP is currently unavailable.In addition, any County projects within the Olympia boundaries or the Urban Growth Management Area (UGMA), should be included in the document.
The CFP has been forwarded to the Planning Commission and other advisory committees for review and comment.The Planning Commission is currently scheduled to hold its CFP public hearing on August 6 (including the school district).
The six-year plan is almost 5% more than the previous CFP.The increase is predominantly from the bond for the Washington Center renovations plus several major grants the City has received.
Neighborhood/Community Interests (if known):
Neighborhoods are always interested in the all of the projects in the CFP.
Note: The preliminary CFP document was posted on the City's website for public access and review on Wednesday, July 11, 2012.
Options:
If needed, have staff provide additional information or analysis. Preliminary utility rates will be discussed with the Committee at the October meeting.
Financial Impact:
There are sufficient revenues from approximately 16 different sources to implement this plan. One financial area for discussion is the Real Estate Excise Tax (REET). The legislature made a change allowing the use of up to 35% of the annual proceeds to be used for operations and maintenance.This change will sunset in 2016.The current plan assumes the money will remain in the CFP.