11-08-2023 Council Packet - Laserfiche WebLink

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CITY OF LITTLE CANADA CAPITAL IMPROVEMENT PLAN 2024-2033 INTRODUCTION The City of Little Canada utilizes a Capital Improvement Plan (CIP) to schedule proposed public improvements and purchases. The City is preparing a ten-year CIP in order to better identify and plan for future projects and the funding sources for those projects. The Plan matches proposed expenditures and revenues by project. The CIP is a planning document intended to assist policymakers and staff to plan for major capital improvements, renewal, and replacement expenditures. As a planning document, the CIP does not bind the City to the anticipated expenditures in the projected years. The CIP is not a budget, nor an authorization to expend funds. The authorization of the expenditures occurs through City Council action and in the adoption of the annual budget. 2024 Projects will be included in the 2024 Budget that Council adopts in December. For projects beyond 2024, staff will request authorization from Council before proceeding with any expenditure. As a planning document, the CIP facilitates two distinct planning purposes. First, the CIP is a tool that is used to implement the goals identified in the City’s Comprehensive Plan. As the City looks at future projects, it is important to make sure that they will appropriately integrate with the Comprehensive Plan. Second, the CIP is a financial planning document. The CIP is to be reviewed each year per the City’s Financial Policies. As capital expenditures are identified in various periods of time, it is important to appropriately plan so that the necessary funding is available when these expenditures take place. If additional funding through grants and other funding sources becomes available, it is possible to accelerate these projects to take advantage of these outside funding opportunities. In 2019, the City Council adopted a Strategic Plan. Since, the Strategic Plan was reviewed and updated in June of 2023. The first step in this Plan was to create a practical vision for the next 3-5 years. This vision has been used to prepare the CIP and specific goals have been included. By 2025, Little Canada: •Has flexible gathering spaces that will engage everyone •Has increased, diversified citizen engagement •Has modernized codes & all records are incorporated into efficient, functional formats •Has sustainable core services that are accountable to the public •Has an enhanced internal and external trail system •Has provided additional park amenities and opportunities to engage the community •Has revitalized key commercial corridors •Is maintaining, and has created, new housing opportunities From these practical goals, three strategic directions were identified to help achieve this vision: 1.Enhance Identity and Empower the Community 2.Create Operational Efficiency 3.Maximize the City’s Assets to Catalyze Development 1