Finance Committee Agenda and Packet 2024 09 19

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It was noted that the originally proposed Affordable Housing line item was removed from the budget as there was not a specific project to be funded. Councilmember Hamlington asked what the reduction in the paving program includes. The Director of Public Works explained street scores and the goal to meet a pavement condition index of 70, which is what most cities target as a reasonable standard. Councilmember Kern asked for more detail on the $3.5M maintenance line item and she expressed concerned that there isn't at least $1M set aside for Marshall Fire. The Financial Analyst commented that there is a slide coming in the presentation where each project is listed. There was a discussion around solar projects, grants, and HVAC upgrades. The Director of Public Works noted that the largest costs come from the recreation center systems which are at end of life. Solar for the recreation center is part of the DOLA grant There was a discussion around the total 2025 CIP expense requests for pavement, decarbonization related projects, south street underpass and downtown vision plan projects, maintenance costs and $700K in new projects. Councilmember Kern asked for further clarification in the documentation which shows that the CIP revised fund is met by 2024 carryover and grant funding. It was noted that the South Street underpass construction project will be a multi -year cash flow. Councilmember Dickinson asked to understand the LRC funding amounts listed. It was noted that the LRC voted to allocate $1M towards the South Street underpass project and $9M to the Downtown Vision Plan. Both projects are currently at high level early design phase. Councilmember Kern asked how much of the Downtown Vision Plan project will be spent in 2025. The Director of Public works commented that he is trying to bundle the projects together and it's currently anticipated that maybe 10-25% of the projected costs will be spent in 2025. Councilmember Hamlington asked if the timing of the Downtown Vision Plan and South Street Underpass projects is dictated by grant money. The Director of Public Works responded that the underpass project does have timing restrictions due to the grant funding, adding that on a $10M project, the longer it takes to commence a project you can expect costs to increase. He also noted that sequencing the underpass with the future 42 project is important because the underpass is the next logical phase of future 42 and that the future 42 projects will build on the underpass. There was a discussion around the maintenance items listed in the presentation. There was a discussion around the items listed on the new items slide. Councilmember Hoefner asked for clarification on a summary of the revised CIP plan. The Financial Analyst commented that, for 2025, the listed projects can move forward with the funding currently available. This 8/251