TO: Members of the City Council
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
|
Finance |
Kelley Cochran |
425-556-2748 |
DEPARTMENT STAFF:
|
Finance |
Blake Ruiz |
Senior Financial Analyst |
TITLE:
title
Capital Investment Program (CIP) Funding Strategy
OVERVIEW STATEMENT:
recommendation
Finance staff will provide an update and recommendations on the Capital Investment Program (CIP) funding strategy. The presentation will address debt portfolio management, strategic capital investment projects and priorities, public art funding, and development of the 2027-2032 CIP.
body
☒ Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
☐ Receive Information ☒ Provide Direction ☐ Approve
REQUEST RATIONALE:
• Relevant Plans/Policies:
o Long-Range Financial Strategy (LRFS)
o Fiscal Policies
o Capital Investment Strategy (CIS)
o Community Strategic Plan (CSP)
o Redmond Comprehensive Plan (Redmond 2050)
• Required:
N/A
• Council Request:
N/A
• Other Key Facts:
To receive Council input and direction prior to the development of the 2027-2032 Capital Investment Program and to move forward with bond repayment expediently if supported by Council.
OUTCOMES:
Staff will review the City’s existing debt portfolio, including repayment opportunities and capacity for future bond issuances. The presentation will outline strategic capital investment projects and the recommended funding approach, as well as the development of the 2027-2032 Capital Investment Program and alignment with functional and capital facilities plans. The recommended strategy is intended to fund priority capital investments while minimizing impacts to the remaining capital program and ensuring continued investment in core infrastructure.
In addition, staff will present a proposed funding strategy to incorporate public art investments into the Capital Investment Program. The approach integrates public art into broader capital planning efforts and improves long-term funding predictability.
Council direction will inform debt repayment decisions and actions, development of the 2027-2032 Capital Investment Program, and funding for public art.
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:
Strategic & Responsive
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)
|
Date |
Meeting |
Requested Action |
|
N/A |
Item has not been presented to Council |
N/A |
Proposed Upcoming Contact(s)
|
Date |
Meeting |
Requested Action |
|
3/10/2026 |
Committee of the Whole - Finance, Administration, and Communications |
Provide Direction |
Time Constraints:
N/A
ANTICIPATED RESULT IF NOT APPROVED:
N/A
ATTACHMENTS:
Attachment A: Capital Investment Program (CIP) Funding Strategy