Title
Briefing on the Preliminary Capital Facilities Plan, 2021-2026 Financial Plan
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Receive the information. Briefing only. No action requested.
Report
Issue:
Whether to receive a briefing on the Preliminary Capital Facilities Plan, 2021-2026 Financial Plan, including key projects, revenues, and expenses.
Staff Contact:
Nanci Lien, Finance Director, 360.753.8465
Presenter(s):
Nanci Lien, Finance Director, 360.753.8465
Background and Analysis:
The Capital Facilities Plan (CFP) is a Chapter in the City's 20-year Comprehensive Plan adopted by Council in 2014. The CFP portion of the Plan is updated annually.
The CFP identifies which capital facilities are necessary to support development and/or growth. Most projects listed, are directly related to the applicable master plan or functional plan, such as the Parks, Arts and Recreation Plan, the Storm and Surface Water Plan, and other similar plans. The Comprehensive Plan covers a 20-year time horizon; however, the Preliminary CFP, 2021-2026 Financial Plan is a 6-year financial plan. It is required by the Growth Management Act and includes specific projects, cost estimates, funding sources and strategies to implement the plan.
City staff annually reviews and updates the 6-year plan to ensure it can fund and implement the comprehensive plan's vision, showing how the city will provide governmental services at adopted levels of service standards for the existing and projected population growth in the City and Urban Growth Area.
On August 17, City staff will present the Preliminary CFP, 2021-2026 Financial Plan to the Planning Commission. The Commission is responsible for reviewing the plan for consistency with the other Chapters of the Comprehensive Plan, holding a Public Hearing, and providing comment to the City Council.
City Council is scheduled to hold a Public Hearing on October 13 with planned adoption...
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