Title
Approval of an Ordinance Adopting the Capital Facilities Plan: 2019-2024 Financial Plan and Appropriating Funds for 2019
Recommended Action
Committee Recommendation:
The Planning Commission, Utilities Advisory Committee, Bicycle and Pedestrian Advisory Committee, and Parks and Recreation Advisory Committee have reviewed the plan.
City Manager Recommendation:
Move to approve an ordinance on second reading adopting the Capital Facilities Plan: 2019-2024 Financial Plan and appropriating funds for 2019.
Report
Issue:
Whether to approve the ordinance adopting the Capital Facilities Plan, 2019-2024 Financial Plan and appropriating funds for 2019 and move the ordinance to second reading.
Staff Contact:
Debbie Sullivan, Administrative Services Director, 360.753.8499
Presenter(s):
None - Consent calendar item
Background and Analysis:
Background and analysis has not changed from first reading to second reading.
The budget process for the Capital Facilities Plan (CFP) started in July 2018. Since that time, the Planning Commission reviewed the plan in detail, held a public hearing, and provided Council with comments. Council also received comments from the Utility Advisory Committee, Bicycle and Pedestrian Advisory Committee, and the Parks and Recreation Committee. City Council held two public hearings on October 23 and on November 13.
Since the Preliminary CFP was presented, the following changes have been made to the final document:
1. The Olympia School District’s 2019-2024 CFP has been incorporated into the final document
2. A new project, Hazard Tree Abatement, has been added to the General Capital Facilities Chapter. $23,000 will be re-allocated from Building Repair and Replacement to Hazard Tree Abatement and appropriated in 2019. The projected costs in years 2020- 2024 is estimated at $1,000,000.
3. A new project, Olympia Home Fund - Capital, has been added to the General Capital Facilities Chapter. $481,000 will be appropriated from the Olympia Home Fund - Capital Fund in 2019 to cover debt service for the acquisition of 2828 Martin Way. Projected costs and revenue in years 2020-2024 is estimated at $7,855,000.
4. A new project, 4th and Columbia Mixed Use Project Feasibility, has been added to the General Capital Facilities Chapter. $500,000 will be appropriated from the Economic Development Fund in 2019.
Neighborhood/Community Interests (if known):
The Planning Commission and City Council held public hearings to hear testimony on the City’s CFP: 2019-2024 Financial Plan.
Options:
1. Approve the City’s Capital Facilities Plan: 2019-2024 Financial Plan, appropriate funds for 2019 and move to second reading.
2. Approve the City’s Capital Facilities Plan: 2019-2024 Financial Plan, direct staff to make additional changes to the 2019 Capital Budget, and move to second reading.
Financial Impact:
The 2019 Capital Facilities Plan Funding is $22,856,281. The Capital Facilities Plan: 2019-2024 Financial Plan totals $157,867,873.
The 2019 budget for all Capital Funds is $28,691,049. The difference between the Capital Facilities Plan Funding and the budget for the Capital Fund ($5,834,768) represents transfers to be made between funds to support projects identified in the Capital Facilities Plan.
Attachments:
Ordinance
Planning Commission Letter
Utility Advisory Committee Letter
Bicycle and Pedestrian Advisory Committee Letter
Parks & Recreation Advisory Committee Letter