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 fu...
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