Capital Improvements Program (CIP) Document - City of Urbandale

January 12, 2010
Members of the City Council
City of Urbandale
Urbandale, Iowa
Re:
2010-2015 Capital Improvements
Program
On behalf of the Capital Improvements Committee, I am pleased to submit the
recommended 2010-2015 Capital Improvements Program. The Committee
met for approximately one month to review the staff’s capital improvement
recommendations and to prepare a final report for City Council consideration.
Additionally, public input was received by the Committee before the preparation
of the recommended CIP.
The recommended 2010-2015 Capital Improvements Program reflects the
Capital Improvements Committee’s infrastructure priorities for the next five
years. The document is generally consistent with both the staff’s
recommendations and the CIP prepared and adopted in 2009. The
recommended CIP is primarily in compliance with the City Council’s six
financial performance goals for debt issuance for FY10-11 through FY14-15.
In order to achieve this compliance, City staff in Parks and Public Works, in
coordination with the Finance Director, aligned the project debt issuance with
the debt schedule prepared by the bonding agent for 2010. Consistent with the
prior year’s CIP, the estimated debt retirement schedules for 2010 through
2013 will be spread over 12 years, which means that there is endloading/heavier
debt in later years that will need to be evaluated when the CIP
is reviewed again in Fall, 2010.
The Capital Improvements Committee held its public hearing on December 17,
2009; and as detailed in the Minutes, includes a summary of the public input
and the minor modifications from that meeting. Therefore, the CIP to be
considered by the City Council at its public hearing on January 12, 2010, is
basically the same program with the minor modifications incorporated in the
CIP Committee’s recommended program document.
The recommended five-year CIP will not require a change in the current debt
service property tax levy rate of $2.05/$1,000 of valuation until FY2011-12. At
that time, the levy rate would rise by $0.10 to $2.15 in 2011.