Fiscal Note
The 2012 Adopted Capital Budget directed the creation of a staff team to make recommendations regarding overall space requirements, facility relocations, and potential property acquisitions related to City support facilities needs. The Capital Improvement Plan for 2013 as adopted in the 2012 Capital Budget includes $2.6 million for facility relocation costs associated with Fleet Services activities. This provision also authorized consideration of 2012 budget amendments for land acquisition and construction on an as-needed basis in response to recommendations made by the staff team.
This resolution forwards for acceptance by the Council the Long-Range Facility Needs Analysis Report and authorizes up to $1.4 million in general obligation borrowing in 2012 to acquire land for phased relocation and consolidation of facilities for Fire Maintenance, Fleet Services and other support services activities over the next several years, consistent with the recommendations in the report. Funding for facility construction would be included in future capital budgets. Debt service on $1.4 million in general obligation borrowing is estimated at approximately $180,000 annually.
Account strings are as follows:
$1,400,000 IM01-58110-815506 Land
$1,400,000 IM01-79140-815506 Promissory Note Proceeds
Title
SUBSTITUTE - Accepting the Long Range Facility Planning Report. and amending the 2012 Capital Budget.
Body
WHEREAS, the City owns over 100 facilities in support of public services, with a value in excess of $400 million; and,
WHEREAS, the City has sought to keep its general debt service costs at or below 12.5 percent of annual general fund expenditures; and,
WHEREAS, the capital improvement plan (CIP) adopted with the 2012 Capital Budget could result in debt service reaching nearly 20 percent of annual general fund expenditures by 2018; and,
WHEREAS, the state constitution and state statutes require that most of the City’s revenues be raised from residen...
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