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SUBJECT: LONG TERM TRANSPORTATION IMPROVEMENT FUNDING <br />DATE: FEBRUARY 28, 2023 PAGE 3 OF 3 <br />Reallocate Funding to Future 42/Hold 70 PCI - Staff will manage future street <br />improvement budgets to ease down to a 70 PCI and maintain 70 then on. Staff <br />would aggressively push/prioritize the project and grant applications. Future 42 <br />would receive moderate to significant funding and possibly achieve Phases 1 — 5 <br />in the next 10 years. <br />Reallocate Funding to Other City Priority Projects — Staff would manage <br />future street improvement budgets to desired City Council PCI. Funds would be <br />reallocated to other priorities such as Decarbonization, Medians, or Parks. <br />RECOMMENDATION: <br />Staff recommends City Council provide direction for future budget development and <br />management of the Street Improvement Program and other City priority capital intensive <br />programs and projects. <br />Future information would be developed as part of annual budgeting exercises to <br />represent long term desired adjustments. <br />ATTACHMENT(S): <br />1. Presentation <br />2. IMS Report <br />STRATEGIC PLAN IMPACT: <br />® <br />Financial Stewardship & <br />® <br />Reliable Core Services <br />Asset Management <br />® <br />nor Vibrant Economic <br />® <br />Quality Programs & <br />Climate <br />Amenities <br />® <br />Engaged Community <br />❑ <br />Healthy Workforce <br />0 <br />❑ <br />0 Supportive Technology <br />® <br />• Collaborative Regional <br />Partner <br />CITY COUNCIL COMMUNICATION <br />