FY 2000-05 Eugene CIP Draft - Laserfiche WebLink

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III Unfortunately, the lack of funding for an adequate preservation program rn recent years means Funding that the City currently has a backlog of rehabilitation projects, primarily related to general fund ' I element of a balanced CIP is the rovision of funds to both preserve or enhance assets and to Eugene s street system. A critlca p existing facilities and provide new assets which will help the City respond to changing service New Capital Facilities and Capacity Enhancements ~ needs and community growth. The replacement value for City facilities and park improvements (not including the land) supported by the General Fund is approximately $118 As the community's population base expands, the need to provide safe and efficient capital million. Based on this figure, the City Council developed General Fund targets for the CIP to facilities increases. New streets are necessary to provide access and the delivery of goods and preserve and maintain the City's capital assets. The replacement value of buildings supported. services to developing areas. In addition, wastewater and stormwater systems are necessary I by other funds is estimated at $83.1 million. for the health, welfare and safety of the community. Guidelines In Eugene, the increased need for additional capacity is reflected not only in planning for wastewater, stormwater and road systems but in other areas as well, such as facilities for parks, The City's Financial Management Goals and Policies provide the framework for financial recreational services and emergency services. At times, rehabilitation and preservation efforts planning and decision-making by the City Council, Budget Committee, and City staff. The do not meet many of the needs related to increased capacity. For example, the current City ~ Capital Improvements Policies, as last revised by the Ciry Council in April 1996, are: Library illustrates how the demands of an expanding population base and increased average usage outstrip the ability of rehabilitation and preservation programs to provide. adequate 1. The City will plan for capital improvements over amulti-year. period of time. The service levels to the community. In 1998, the City Council decided that construction of a new Capital Improvements Program will directly relate to the long-range plans and policies library would be the best way to respond to this situation. of the City. Operating funds to maintain capital improvements and to fund additional. staff and service needs must be estimated and identified prior to making the decision Establishing Project Priorities to undertake specific capital improvements. The underlying strategy of the CIP is to plan for land acquisition, construction, and 2. Whenever a service is an enterprise or utility-based operation and where the ratepayer maintenance of public facilities necessary for the safe and efficient provision of City services. directly benefits, the City will work to finance capital improvements by using In order to implement this strategy, project priorities must be established. To prioritize self-supporting revenue bonds, which could be General Obligation-backed. appropriately and effectively, information and inventories must be collected and analyzed. 3. Use of General Obligation bonds will be limited to major capital construction or The condition of each existing capital asset is assessed periodically through various established improvements as defined in ORS 310.140 in support of general municipal services. programs such as the Facilities Condition Report, the Parking Structure Architectural Studyand the Pavement Management System. This data is used to prioritize the community's existing 4. Financing of infrastructure. improvements through use of Assessment bonds will be capital needs. limited to those projects where the required assessed value-to-assessment ratio is met and to the extent the City's financial position permits the use of this financing device. The list of new capital improvement needs and potential capital projects is derived from a number of sources. These include: 5. To maintain the City's physical assets, a current inventory of all of the City's physical assets and their condition and maintenance costs will be maintained; • Functional plans, such as transportation, airport, or wastewater-and stormwater system plans and studies; 6. Council will make a specific determination whether to establish a replacement reserve • Neighborhood and other refinement plans; sinking fund when creating an asset with a value in excess of $1 million and a useful • Requests from individual citizens, neighborhood associations, .and community life in excess of ten years. organizations; • Requests from other governmental units, such as school districts; • City departments; and • City committees and commissions. City of Eugene 2000.2005 Capital-Improvement Program City of Eugene 2000.2005 Capital Improvement Program Overview Overview 4 5 i l_