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Date: December 9, 2024 Item: 13 <br />Presenter: Maggie Jin, Finance Director <br />Section: Consent Agenda <br /> <br />Title: Adopt 2025 Capital Improvement Plan <br /> <br /> <br />1.Purpose: <br />The purpose of this agenda item is to approve the 2025 Capital Improvement Plan. <br />2.Background: <br />In 2012 the City first formally adopted a Capital Improvement Plan (CIP). Since then, in order to <br />keep the CIP useful and relevant, each year as part of the budget process, staff updates the Capital <br />Improvement Plan (CIP). The CIP is a planning level document that provides a 10-year planning <br />schedule and allows the identification of significant capital expenses. The CIP is solely a planning <br />document and approval of the CIP does not constitute approval of any expenditures. <br /> <br />There are two main purposes of the CIP. First purpose is to identify CIP items as needs by staff. <br />The second is determining available funding for the CIP. Some items identified in the CIP will <br />require additional funding sources (grants, donations, partnerships, etc.) to be secured prior to <br />moving forward with the projects or purchase. <br /> <br />The CIP is used to inform future budgets of the funding needs for critical infrastructure like roads, <br />utility infrastructure, and equipment needs. <br />3.Staff Recommendation: <br />Staff recommends approval of the 2025 Capital Improvement Plan as a planning document used to <br />inform future budgets and funding needs. <br />AGENDA ITEM <br /> <br /> <br /> <br /> <br /> <br />COUNCIL ACTION REQUESTED <br />Motion to approve the 2025 Capital Improvement Plan. <br />Exhibits <br />Exhibit A. 2025 Capital Improvement Plan <br />289