Submitted By
Steve Drazner, CFO
Agenda Item Title
Title
A Presentation of the Recommended Five Year Capital Improvement Plan (CIP) 2021-2025:
1. Main Capital Fund: pages 6 - 56
2. Madison TIF (Expired 12/31/2019): pages 57 - 60
3. CDBG Fund (Capital Items Only): pages 60 - 65
4. Sustainability Fund (Capital Items Only): pages 66 -72
5. Building Improvement Fund: pages 73 - 143
6. Madison TIF Building Improvements (Expired 12/31/2019): pages 144 - 147
7. Fleet Fund: pages 148 -154
8. Equipment Replacement Fund: pages 155 - 170
9. Parking Fund (Capital Items Only): pages 171 - 185
10. Water and Sewer Fund (Capital Items Only): pages 186 -221
End
Overview
Overview
The five year recommended Capital Improvement Plan (CIP) was briefly presented on October 5, 2020 with the full review and presentation schedule for October 12, 2020. This first year (FY21) will be included in the FY21 recommended budget. Future years and provided to identify future capital needs in the Village. It is requested that the Village Board approve a five year CIP document no later than adoption of the FY21 Budget in December.
Body
Anticipated Future Actions/Commitments
Staff will prepare the final document for Village Board adoption with the operating budget in December.
Report
As we enter the eighth month of the COVID-19 pandemic, the Village strives to meet the needs and costs of capital infrastructure. This is especially impacted by the economy and daily challenges about the allocation of limited resources.
The Village must continue to make strategic capital investments while holding operating costs to a reasonable level. The first year (FY21) of the recommended five year CIP balances the use of reserves, projected revenues and expenditure limitations in order to address the most urgent capital needs and end 2021 with a positive capital fund balance.
The recommended CIP is developed in consultation with the Village Engineer, Public Works Director and multiple other ...
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