Title
Preliminary Capital Facilities Plan, 2023-2028 Financial Plan Discussion
Recommended Action
Information only. No action requested.
Report
Issue:
Discussion on the Preliminary Capital Facilities Plan, 2023-2028 Financial Plan.
Staff Contact:
Joyce Phillips, Principal Planner, Community Planning and Development, 360.570.3722
Presenter(s):
Joyce Phillips, Principal Planner, Community Planning and Development
Background and Analysis:
Earlier in the year, Commissioners decided to utilize a finance subcommittee for the purpose of reviewing and developing a recommendation on the Preliminary Capital Facilities Plan, 2023-2028 Financial Plan (CFP). This meeting is the third of three, where Commissioners will discuss the draft document, public comments received, and determine which topics to include in the draft comment letter for consideration of the full Planning Commission at its meeting on October 3, 2022.
Questions posed by Subcommittee members that were discussed at the meeting on September 12, 2022, with staff responses, are attached. In addition, Planning Commission comment letters on CFPs for three previous years are attached, at the request of the Finance Subcommittee.
The Preliminary CFP can be accessed from the City's Budget webpage under Budget Documents.
Neighborhood/Community Interests (if known):
The comments received by the close of the public hearing are attached. Comments are primarily related to sidewalk issues.
Options:
None. No action requested.
Financial Impact:
The Preliminary CFP 2023-2028 Financial Plan anticipates approximately 39 million dollars of capital improvements in 2023. For years 2023 - 2028, it is anticipated that approximately 226 million dollars will be spent on capital investments. Revenues to cover these costs are from a variety of sources, including state and federal grants, taxes and fees, utility rates, impact fees, SEPA mitigation fees, fund balances, and other revenue sources.
Attachments:
Budget Webpage...
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