2024 Capital Funds book - Laserfiche WebLink

Home Browse Search

Future considerations for Capital Improvement Fund: • 2024 implementation of phasing out the use of Infrastructure transfers as a CIP source and converting that amount to levy. Then available Infrastructure dollars would reallocated to the debt levy reduction to negate levy impact. Parks Improvement Fund • The results of the WSB Parks Evaluation have been used to determine the items and timing of future capital expenditures. • Present needs included for 2024 are: • Silverpoint park playground equipment is in need of replacement. The placeholder for this project assumes the full accessibility option for play equipment, a vendor quote for this is $220,500. • As part of the WSB parks assessment, plans over 2024-2025 are to add accessible picnic tables and benches to Central, Emerald, and Silver Point parks; the estimated cost for the 3 parks is $30,000, and to add an accessible route to the picnic shelter and grill at Emerald Park is planned for 2025 at a cost estimate of $15,000. Future considerations for Park Improvement Fund: • The Park improvement fund’s revenue source is Park Dedication fees. Allowed uses of park dedication fees are limited in scope. Also, dedication fees are insufficient to add any new amenities in the City Parks. Therefore, the City has been reliant on debt financing for significant additions and improvements. In order to fund the replacement of existing park amenities initiating the city initiated a Parks capital improvement levy in 2021. Currently the levy phasing will be able to fund projects that are smaller in scope, however, larger scope projects will continue to be debt reliant. Utilities Infrastructure Fund • Anticipated water infrastructure costs for 2024 include: • Replacement of the dehumidifier in the GAC plant is needed and estimated at $205,000 • Domestic water heaters in GAC and Iron plants estimated to cost $3450 • Replacement of Sodium Permanganate Pumps at $17,500 • Roof replacement on wellhouses 3, 4, & 5 at a total estimated cost of $37,500 • Significant purchases for Water treatment plant components are reflected as occurring in 2024-2026. Staff has proposed a Plant components assessment in 2024 or 2025 be performed by a third-party subject matter expert. A placeholder of $35,000 has been included in the capital budget. The amount reflects the complexities of three separate water treatment processes employed by the City. • The water tanker was scheduled for replacement in 2023, but moved to 2024 as it was determined to be in good condition. The Tanker will be evaluated in 2024 and on a year to year basis until it is eventually replaced.