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2 <br /> <br /> Methodology <br /> <br />The City of Lake Elmo moved from a 5-year to a 10-year CIP for the first time in 2024. The <br />process of moving to a 10-year CIP has meant a substantial increase in the number of projects <br />expected. <br /> <br />Types of projects listed in the CIP include things like vehicles, equipment, street projects, utility <br />projects, and so on. Some projects, like street reconstructions, will have both a street and a <br />sewer or water component, which are listed separately. This year, staff started an effort to <br />reorganize the project numbering and naming conventions. Part of that process was to assign <br />project numbers of related items the same numerical value. So, you will find that the 2025 Street <br />& Utility Improvements has a project PW-100 for the street portion and a project W-100 for the <br />water portion. Project numbers are also grouped by category; trucks are the lowest numbers, <br />then equipment, annual street improvements are 100+, etc. <br /> <br />All cost estimates are preliminary and based on current dollars. No assumptions have been made <br />about inflation. It will be important to refine and update costs each year when the plan is <br />reviewed, especially for projects in the first year or two of the plan. <br /> <br />Some purchases that are not likely to occur until slightly beyond the ten-year planning period <br />may also be included in the CIP, such as the Ladder Truck, in order to see their impact on fund <br />balances. Most of these projects are replacements for equipment and vehicles (such as fire <br />trucks) which may have a life span of 10, 15 or 20 years and more. The plan may also include <br />“pending” projects for which timelines (and in most cases, cost estimates) have not yet been <br />identified; such as the previously MPCA grant projects that have currently lost funding. As more <br />information is developed about the need for, cost, and possible funding sources for these <br />projects, they will be included in future CIP updates. <br /> <br />Funding Sources <br /> <br />The CIP identifies a possible funding source(s) for each project listed. The main funding sources <br />are as follows: <br /> <br />Bond Proceeds Projects financed by borrowing, later to be repaid with <br />property taxes or utility funds, and potentially special <br />assessments depending upon the characteristics of the <br />project. <br /> <br />General Fund Annual operating budget which occasionally funds CIP <br />projects, primarily funded by property tax revenues. <br /> <br />Park Dedication Fund Existing City fund, receipts from cash-in-lieu of land park <br />dedication fees paid by developers and others who <br />subdivide their land. <br /> <br />Stormwater Fund Funds come from fees paid by users of the Stormwater <br />system. <br />