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~ 6. Council will make a specific determination whether to establish a replacement reserve <br /> sinking fund when creating an asset with a value in excess of $1 million and a useful <br /> life in excess of ten years. <br /> The CIP Development Process <br /> Typically, development of the Capital Improvement Program is a nine-month process, which <br /> begins in June of even-numbered years and ends the following February: <br /> ~ 1. In June or July, Public Works staff presents the CIP public involvement process to the ' <br /> Citizen Involvement Committee for their comment and approval. Also in July, staff <br /> ~ meets with the City's neighborhood leaders to provide an overview of the CIP, its <br /> process and focus. Neighborhoods are requested to submit any capital-related requests <br /> by the end of September. - <br /> <br /> a <br /> 2. In late summer and fall, staff compiles the Draft CIP document using input and requests <br /> from a variety of sources, including neighborhood groups, individual citizens, adopted <br /> plans and policies, etc. <br /> I <br /> 3. The Draft CIP is published and made available to the public in late fall. Staff conducts <br /> a public open house to provide an opportunity for community members to become <br /> more familiar with the draft CIP and ask questions, prior to the public hearing by the <br /> Planning Commission. <br /> 4. The Planning Commission conducts a public hearing in December or January. After <br /> considering testimony and reviewing the Draft CIP, the Planning Commission forwards <br /> its comments to the Budget Committee and City Council <br /> 5. The Budget Committee, with the benefit of the public hearing minutes and the <br /> Planning Commission's comments, reviews the Draft CIP in January/February with a - <br /> primary focus on financial and budget issues. Recommendations and comments are ' <br /> forwarded to the City Council; <br /> 6. The City Council conducts a public hearing in February. After consideration of this <br /> testimony and review of comments from the Budget Committee and Planning <br /> Commission, the City Council finalizes and adopts the CIP. ` <br /> Following adoption of the CIP by the City Council, the projects in the first year become the <br /> basis for preparation of the next fiscal year's Capital Budget The Capital Budget is submitted <br /> to the Budget Committee in the spring of each year and adopted by the City Council in June. <br /> Projects in the CIP's second fiscal year become the basis of the subsequent fiscal year's Capital <br /> Budget. At the time the Budget is adopted, any changes to project timing or funding adopted <br /> in the Capital Budget process are automatically considered to be amendments to the CIP. <br /> t, <br /> City of Eugene 2002-2007 Capital Improvement Program <br /> Page 8 <br /> _ <br /> _ <br /> <br />