HomeMy WebLinkAboutAdopt the Curb Replacement Fund within the Capital Improvements Program
Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: Chris Kukulski, City Manager
Anna Rosenberry, Finance Director
SUBJECT: Adoption of the Capital Improvements Plan (CIP) for 2012-2016 – CURB
REPLACEMENT FUND
Item Type: Consent
MEETING DATE: November 29, 2010
RECOMMENDATION: Adopt the attached Curb Replacement Fund Capital Improvements
Plan for 2012-2016.
BACKGROUND: On November 8, 2010, we presented the attached Curb Replacement Fund
capital improvement plan. At that time, public comment and commissioner input was sought.
As a result of that meeting, we have made the following changes, which have been incorporated
into the schedules for your adoption tonight:
1. Removal of references to specific curb projects. In doing so, we removed items CR02
and CR03, and have described the projects in general in CR01.
2. Addition of language in the CR01 project description that specifies a preference for
leveraging or combining this money with other funding to accomplish more curb
replacements.
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FISCAL EFFECTS: Once adopted, the Capital Improvements Plan becomes the basis of
the City Manager’s Recommended Budget for FY12.
ALTERNATIVES: As suggested by the City Commission.
Report compiled on: November 16, 2010
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Curb Replacement FundCapital Improvement PlanFinancial SummaryCurrent YearFY11 FY12 FY13 FY14 FY15 FY16Projected Beginning Reserve Balance Dedicated to CIP‐$ 92,903$ 228,709$ 407,418$ 280,746$ 229,573$ Plus: Street Mtc Revenues Dedicated to Curb Replacement 42,903$ 85,806$ 128,709$ 173,328$ 218,827$ 221,015$ Plus: Gas Tax Dollars for Curb Replacements50,000$ 50,000$ 50,000$ 50,000$ 50,000$ 50,000$ Less: Scheduled CIP Project Costs‐$ ‐$ (350,000)$ (320,000)$ (500,000)$ Projected Year‐End Cash Dedicated to CIP 92,903$ 228,709$ 407,418$ 280,746$ 229,573$ 588$ Assumptions Made for Revenue Estimates: Current YearFY11 FY12 FY13 FY14 FY15 FY16Estimated Annual Street Mtc Revenues 2,043,000$ 2,145,150$ 2,145,150$ 2,145,150$ 2,166,602$ 2,188,268$ Estimated Annual Increase 5% 0% 0% 1% 1% 1%Total Estimated Revenues 2,145,150$ 2,145,150$ 2,145,150$ 2,166,602$ 2,188,268$ 2,210,150$ Current Revenues Dedicated to CIP % 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% Plus: Increase Dedicated to Curb Replacements 2.0% 2.0% 2.0% 2.0% 2.0% 0.0% Total % Dedicated to CIP 2.0% 4.0% 6.0% 8.0% 10.0% 10.0%Total Estimated Revenues Dedicated to Curb Replacement CIP 42,903$ 85,806$ 128,709$ 173,328$ 218,827$ 221,015$ ProjectedProjected600,000.00500,000.00400,000.00300,000.00200,000.00100,000.000.00FY12 FY13 FY14 FY15 FY16 UnscheduledCurb Replacement Fund Projects110
CIP PROJECT FUNDPROJ.DEPARTMENTPROJECT NAMEFY12FY13FY14FY16UnscheduledFY15Curb Replacement FundCR01STREETSCURB REPLACEMENTS$350,000$320,000$500,000Summary for Curb Replacement Fund (1 item)Totals by year:$350,000 $320,000$500,000FY12FY13FY14FY15FY16Unscheduled111
CIP Project Fund
Curb Replacement Fund
PROJECT NUMBER
CR01
DEPARTMENT
STREETS
PROJECT NAME
CURB REPLACEMENTS
FY12 FY13 FY14
$350,000
FY15
$320,000
FY16
$500,000
Unscheduled
DESCRIPTION OF PROJECT
This item is the replacement of existing deteriorated curbs and gutters. We estimate that approximately 6-8 blocks (both sides
of the street) would be able to be replaced each year, if this were the only source of project funding. Preference will be give to
funding projects that can combine or leverage this money with other funds, in order to accomplish more total curb
replacements. Eligible curbs are those listed as "failing" on the City's curb condition inventory.
ALTERNATIVES CONSIDERED
Do not replace the curbs
ADVANTAGES OF APPROVAL
This aging infrastructure will be repaired.
ADDITIONAL OPERATING COSTS IN THE FUTURE, IF FUNDED
FUNDING SOURCES
100% Curb Replacement Fund
New
Replacement
Equipment
Project
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