2006 Capital Improvement Budget

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2006 Capital Improvement Budget

• Capital Improvement Plan to Capital Improvement
  Budget
• Receive further direction
• Property Tax Projects
• Parks and Recreation Projects (sales tax)

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2006 Capital Improvement to Capital Budget

• Projects Compiled into a Draft CIP for Review by
  the Planning Commission
• Projected Resources Available in 2006 for the
  Capital Budget
• Created Funding Options for City Commission
  discussion and direction
• City Manager recommends Operating and Capital
  Improvement Budget

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2006 Capital Improvement to Capital Budget

• 18,573,000 of projects proposed for 2006
• 8,525,000 - City Cost of proposed
  projects
• 7,848,000 Funded by federal or state grants
  and benefit districts
• 2,200,000 - Kasold Bridge over KTA no
  cost to city, funded by State
  and County

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2006 Capital Budget Property Tax Options

• Established Three Funding Tiers
• No levy increase, 0.25 mill increase, 0.50 mill
  increase
• 2005 debt levy 7.07 mills
• 6 annual increase in valuation

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2006 Capital Budget Property Tax Tier One - no
increase
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2006 Capital BudgetProperty Tax Tier Two - 0.25
mill
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2006 Capital Budget Property Tax Tier Three -
0.50
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2006 Capital Budget Property Tax Options

• Discussion / Direction

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2006 Capital Budget Sales Tax Options

• 3,286,000 of parks and recreation projects were
  proposed in the Capital Improvement Plan for 2006
• No outside funding

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2006 Capital Budget Further Direction

• Finance selected projects through a mix of cash
  and debt
• Debt finance all proposed projects - 2nd
  generation bonds
• 309,000 paid off in 2005 2,950,000 of annual
  debt support starting in 2006
• 514,000 paid off in 2006 4,950,000 of annual
  debt support starting in 2007

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2006 Capital Budget- Sales Tax Options

• Discussion / Direction