Title
Capital Projects Overview
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Summary and Background Information:
Funding the capital projects needed for the continued growth of the community is a significant challenge. Some of the cost estimates date back to 2003 but the total is over $1 billion even with old estimates. There are strategies for funding much of that total. This presentation serves to provide broad background and a high level look at strategy.
Of the $1,052,827,735 in estimated needs, an estimated $795,918,950 may be funded during the next approximate 50 years using several strategies. That leaves a gap of $256,908,785 that must be funded by some other strategies.
Those other strategies do not need to be decided at this point, but decisions made today may impact the viability of those potential strategies. The challenge is to formulate policy with long-term strategies in mind. For example, decisions made this year regarding the mill levies set by each of the general improvement districts affect their ability to fund projects in the future.
What information does Council need in order to determine long-term strategies?
Staff Responsible (Department Head): Roger Tinklenberg
Staff Member Presenting: Roger Tinklenberg
Financial Impact: N/A
Funding Source: N/A
Staff Recommendation: Provide direction to staff regarding information needed to determine long-term strategy.