Title
Briefing on the Preliminary 2018-2023 Capital Facilities Plan (CFP)
Recommended Action
Committee Recommendation:
The Finance Committee was briefed on the Preliminary 2018-2023 CFP on July 12. There are no recommendations to forward at this time.
City Manager Recommendation:
Receive the briefing and concur with forwarding the Preliminary CFP to the Planning Commission for review, hearing, and comment.
Report
Issue:
Whether to forward the Preliminary 2018-2023 CFP to the Planning Commission for review, hearing, and comment.
Staff Contact:
Mary Verner, Administrative Services Director, 360.743.8499
Presenter(s):
Mary Verner, Administrative Services Director
Background and Analysis:
Each year, the City Manager presents an updated six-year Capital Facilities Plan (CFP) to City Council for adoption. Capital planning involves determining when and where capital investments are needed, and how much they will cost to construct and maintain. The CFP must be balanced so that revenues received will realistically pay for projects proposed in the plan.
The City of Olympia collects impact fees not only for City Parks and Utilities, but also for the Olympia School District. So the School District’s CFP must be incorporated into the City’s CFP document before final adoption. In addition, any Thurston County projects within the boundaries of the Olympia Urban Growth Management Area are to be included in the final CFP document for reference.
Neighborhood/Community Interests (if known):
The Planning Commission will review the Preliminary CFP in depth to evaluate whether the proposed capital projects are consistent with, and further the policies and goals of, the Comprehensive Plan. The CFP is of interest to the Utility Advisory Committee, Bicycle and Pedestrian Advisory Committee, Parks and Recreation Advisory Committee, Olympia Metropolitan Parks District Board, neighborhood associations, and members of the public.
Options:
1. Forward the Preliminary CFP to the Planning Commission for review and comment.
2. Amend the Preliminary CFP prior to submitting to the Planning Commission for review and comment.
Financial Impact:
The 2018-2023 CFP totals $144,404,126 in investments over the six-year planning period, a more than 2 percent increase over the 2017-2022 plan. The capital budget for 2018 alone is $23,338,466. Revenue sources dedicated to capital projects include: voted and non-voted utility tax on private utilities, Real Estate Excise Tax (REET), OMPD property taxes, TBD vehicle tab fees, impact fees, utility rates, and grants.
As in the current 2017-2022 CFP, the largest single increase is in Parks funding and projects. Over $11 million of Olympia Metropolitan Park District (OMPD) funds will be invested in Parks capital projects over the next six years. Street repairs also receive an infusion of funds in this CFP. Approximately $9.1 million will be collected over the next six years from vehicle license tab fee renewals at the $40 per vehicle rate. These tab fees will be invested to improve the condition of streets throughout the city.
Attachments:
None. Copies of the Preliminary CFP will be distributed to Councilmembers at the meeting and will be posted on the City’s website for online access and viewing on or around July 21.