TO: Members of the City Council
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
|
Finance |
Chip Corder |
425-556-2189 |
DEPARTMENT STAFF:
|
Finance |
Kelley Cochran |
Deputy Finance Director |
TITLE:
title
2023-2028 Capital Investment Program (CIP) Review: General Government/Facilities, Parks, and Transportation
OVERVIEW STATEMENT:
recommendation
The agenda for the 2023-2028 CIP review is as follows:
• Capital Investment Strategy (CIS) process overview
• Revenue forecast
• Expenditure summary by functional area
• Project review (selected projects will be highlighted)
o General Government/Facilities
§ Existing projects
§ Revised projects
§ New projects
o Parks
§ Existing projects
§ Revised projects
§ New projects
o Transportation
§ Existing projects
§ Revised projects
§ New projects
Note that the 2023-2028 CIP is organized first by functional area and then by existing, revised, and new projects:
• Existing projects are included in the currently adopted 2021-2026 CIP, with the 2023-2028 CIP encompassing only inflationary cost adjustments, minor scope changes, and/or minor timing changes.
• Revised projects are included in the currently adopted 2021-2026 CIP, with the 2023-2028 CIP encompassing significant cost, scope, and/or timing changes.
• New projects are not included in the currently adopted 2021-2026 CIP. They are reflected in the 2023-2028 CIP for the first time.
A summary level handout will be distributed to the Council on June 10, 2022. It will be organized by functional area and will include the following information for each project: project name, rank, description, location, timeframe, and costs by year.
Also, a PowerPoint presentation is being prepared for the June 14, 2022 study session.
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☐ Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
☐ Receive Information ☒ Provide Direction ☐ Approve
REQUEST RATIONALE:
• Relevant Plans/Policies:
N/A
• Required:
N/A
• Council Request:
N/A
• Other Key Facts:
The City develops a six-year CIP as part of the biennial budget process, with the first two years appropriated by the City Council.
OUTCOMES:
The six-year capital investment program provides a longer-term look at Redmond’s capital project needs and financial commitments for major maintenance programs and debt service, enabling the City to better align its capital activities with the Community Strategic Plan and the Comprehensive Plan and to accumulate funding for major capital projects over multiple years, if needed.
COMMUNITY/STAKEHOLDER OUTREACH AND INVOLVEMENT:
• Timeline (previous or planned):
N/A
• Outreach Methods and Results:
N/A
• Feedback Summary:
N/A
BUDGET IMPACT:
Total Cost:
N/A
Approved in current biennial budget: ☐ Yes ☐ No ☒ N/A
Budget Offer Number:
N/A
Budget Priority:
N/A
Other budget impacts or additional costs: ☐ Yes ☐ No ☒ N/A
If yes, explain:
N/A
Funding source(s):
N/A
Budget/Funding Constraints:
N/A
☐ Additional budget details attached
COUNCIL REVIEW:
Previous Contact(s)
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Date |
Meeting |
Requested Action |
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N/A |
Item has not been presented to Council |
N/A |
Proposed Upcoming Contact(s)
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Date |
Meeting |
Requested Action |
|
N/A |
None proposed at this time |
N/A |
Time Constraints:
N/A
ANTICIPATED RESULT IF NOT APPROVED:
N/A
ATTACHMENTS:
N/A