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FREERS <br />& ASSOCIATES INC <br />To: Mike Morrison —City Manager. <br />Oc From: Stacie Kvilvang —Ehlers and Associates <br />G <br />W Date: April 3, 2006 <br />Subject: 2006 Key Financial Strategies (KFS) <br />Balancing capital improvements, programs and services with revenues is an on-going issue for communities. <br />Over the past several years the City Council has been - diligent in developing and maintaining a <br />comprehensive Key Financial Strategy (KFS) to address these issues. KFS assists the City in: <br />Setting long range goals <br />Reviewing and updating the financial policies that guide the City's finances <br />Examining the community's current financial position <br />Developing an inventory of capital needs and program requests <br />Preparing an inventory of alternative financial resources <br />Presenting options <br />• Analyzing the financial impact of options <br />Developing a framework to review f fture capital projects <br />Over the past year the City Council has been discussing long range financing options for key capital <br />improvement projects and as part of the 2006 Goal setting session, the City Council outlined seven (7) goals <br />to .complete over the next several years. Of these, we have determined financing for the following top five <br />(5) goals which the Council can complete in 2006-2007: <br />1. Silver Lake Road Reconstruction <br />2. Wireless Water Meter Installation <br />3. Construction of Foss Road Lift Station <br />4. Door to Door I & I Inspection Program <br />5. First Phase of 6 -Year Sidewalk &Streetlight Program - Highcrest Neighborhood <br />These projects total $6,050,000 and will be financed from cash on hand and issuance of a TIF bond which <br />will be repaid from the Chandler TIF District and levy. <br />Attached is a spreadsheet of the Council's top seven (7) projects and financing options for them. I will go <br />over this information in more detail at the April 11ffi meeting to obtain feedback from the Council and to <br />provide them with levy impacts for the projects in which they will need to issue a bond(s). <br />Please contact me at 651-697-8506 with any questions. <br />LEADERS IN PUBLIC FINANCE <br />3060 Centre Pointe Drive Phone: 651-6978506 Fax: 651-697-8555 <br />Roseville, MN 55113-1105 skvilvang@ehiers-inc.com <br />33 <br />