Regular Village Board meetings are typically held at 7:00 p.m., the first three Tuesdays of each month in Council Chambers of Village Hall (room 201), 123 Madison St. When a Regular Meeting falls on a holiday, the meeting typically is held the following night. The Village Board also meets in special sessions from time to time. However, dates and times of Special Meetings can vary and may change.

File #: ID 21-273    Name:
Type: Report Status: Consent Agenda
In control: Finance Committee
On agenda: 9/27/2021 Final action:
Title: Review of the Recommended Five-Year Capital Improvement Plan (CIP) for the Years 2022-2026 for Certain Funds
Attachments: 1. Overview Memo, 2. FY22-FY26 Recommended CIP, 3. CIP Chart
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Submitted By                     

Steve Drazner, CFO

 

Agenda Item Title

Title

Review of the Recommended Five-Year Capital Improvement Plan (CIP) for the Years 2022-2026 for Certain Funds

End

Overview

Overview

As part of the budget process, the Finance Committee is provided a staff recommended five-year recommended Capital Improvement Plan (CIP).  This first year is presented for inclusion in the FY22 budget and future years are provided to identify future capital needs in the Village.  After the Finance Committee reviews the recommended plan, the Finance Committee will forward a recommendation to the Village Board for approval.

 

Body

Anticipated Future Actions/Commitments

Staff will prepare the final document for Village Board adoption in October. 

 

 

Report

 

Monday September 27, 2021

 

1)                     Water Fund                     

2)                     Parking Fund (capital items only)                     

3)                     Sustainability Fund (capital items only)

4)                     CDBG Fund (capital items only)

5)                     Madison Street TIF (capital items only)

6)   Overview of Funding Options & Recommendations

 

The recommended CIP is developed in consultation with the Public Works Director, and multiple other operating departments.  Interim Village Manager, Deputy Village Manager, and CFO held multiple discussion reviews and discuss all requested projects with operating departments in order to prioritize projects. Dedicated CIP revenues include:

Local Gasoline Tax ($.06 gallon), Home Rule Sales Tax (1.0 %) and Cannabis Tax (3.0% recreational sales).