City Council Agenda and Packet 2013 06 27

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City Office of the City Manager Louisville COLORADO - SINCE 1878 June 24, 2013 Summary of 2014-2018 Capital Improvement Plan Mayor Muckle, Council Members, and Citizens of Louisville: With this letter I am submitting to you the recommended Five-Year Capital Improvement Plan for the City of Louisville for the years 2014 through 2018 (C-I-P). Process & Scope Departments submitted capital project requests for 2014 through 2018 for the following funds: • Conservation Trust— Open Space & Parks • Conservation Trust— Lottery • Cemetery • Capital Projects • Water Utility • Wastewater Utility • Storm Water Utility • Golf Course • Technology Management • Fleet Management The Finance Department tabulated and compiled these requests, which totaled nearly $105 million. Finance Director Kevin Watson incorporated the requests into the City's Long-Term Finance Model. Unfortunately, without alternative financing, the City could only fund items totaling about $83 million over the next five years. Consequently, after reviewing all the proposals and identifying the highest priorities, I eliminated projects totaling nearly $57 million from the Departmental requests. I added over $11 million in debt service over the next five years to bond for an addition $34 million in projects. I am also proposing to transfer the remaining equity in the Building Maintenance Fund ($400,000) to the Capital Projects Fund in 2013. I have included $6.8 million in transfers from the General Fund to the Capital Projects Fund from 2014 through 2018. This includes $3.0 million to fund Louisville's match on the State Highway 42 corridor projects, $800,000 to fund Quite Zone improvements and $3.0 million in one-time Building Safety Division revenues that should be devoted to one-time capital costs so we I 3