Submitted By
Donna M. Gayden
Agenda Item Title
Title
A Review of the Recommended Five-Year Capital Improvement Plan (CIP) for FY 2025-2029 for the Main Capital Fund, Community Development Block Grant (CDBG) Fund, Building Improvement Fund, and Equipment Replacement Fund
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Overview
Overview
As part of the budget process, the Finance Committee provides a staff-recommended five-year Capital Improvement Plan (CIP). Once adopted by the Board, only the first year of the plan will be legally appropriated as part of the FY25 operating budget. The CIP has been divided into two parts for review and discussion between separate Finance Committee meetings.
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Anticipated Actions/Commitments
Recommendation
Staff will prepare the final document for Village Board adoption in October.
Report
Tuesday, September 10, 2024
1. Parking (capital items only)
2. Equipment Replacement
3. CDBG Fund (capital items only)
Tuesday, September 26, 2024
1. Main Capital Fund
2. Water/Sewer Fund (capital items only)
3. Building Improvement Fund
4. Fleet Replacement Fund
The recommended CIP is developed in consultation with the Public Works Director and multiple other operating departments. The Village Manager, Deputy Village Managers, and the Finance department held multiple internal reviews with operating departments to review all requested projects and prioritize and discuss other pertinent matters regarding how the projects correlate with Board goals and public safety.
DEI Impact
N/A
Alternatives
N/A