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<br /> Equipment replacement: <br /> <br /> The Street Sweeper was replaced as in 2021. <br /> A repair of a failed stormwater pipe along 33rd Ave was completed as part of the 2021 <br />street project. This project will resolve localized minor flooding during heavy rains that <br />has occurred over the last several years. <br /> The 2021 replacement of lighting at Water re-use was deferred to 2022. LED lighting will <br />be installed for energy savings. Fountains/recycling pumps are also due for replacement. <br /> <br />Future considerations for Storm Water Fund: <br /> <br /> The Storm Water fund currently has a sufficient fund balance to support the scheduled <br />replacement throughout 2022-2038 time-frame. Stormwater fund transfers have been <br />used to support the debt levy reduction program as needed in prior years. This support is <br />also planned to occur again in 2024-2029, as long as future pond maintenance costs are <br />fully addressed. <br /> The stormwater rates have been adjusted over time to support maintenance costs and <br />capital needs. Continuing rate management will ensure sustainability. <br /> <br /> <br />Street Improvement and Debt Service Plan <br /> <br /> Plan reflects the 2022 street improvement schedule. <br /> <br /> Plan has updated projections for future bond interest rates. <br /> <br /> Annual street improvements include a mixture of street, utility and storm water <br />reconstruction, alley improvements and mill and overlays. <br /> <br /> The street improvement schedule and 2022 debt levy reduction program were <br />presented to the City Council at the 3/9/21 council work session and approved at <br />the 7/13/21 City Council meeting. <br /> <br /> The Street Improvement schedule was revised in 2022 to provide for an off year <br />every third year, rather than a project scheduled every year. This approach will <br />allow the City to transition to using levy dollars vs 100% debt financing to <br />support the street improvement costs. <br /> <br /> <br />Summary <br /> <br />The proposed 2022 Capital Funds budgets align revenue sources with appropriate needs to ensure <br />sustainability. The budgets as presented are intended to support the Cities present level of services and <br />maintain the City’s infrastructure for current and future community members. <br />