DATE: February 23, 2016
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Paul Holzen, City Engineer
Jonathan Marston, Staff Engineer 3
SUBJECT:
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Discussion Concerning Process for Prioritization of Projects within the Capital Investment Program for Fiscal Years 2017 through 2026
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Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the process for prioritization of projects within the Capital Investment Program (CIP) for Fiscal Years (FY) 2017 through 2026.
Background
On March 13, 2014, the BOMA approved Resolution 2014-13 to adopt a funding plan for the FY 2014-2018 CIP. That resolution is the most recent update to the City's CIP and provided a five year outlook regarding capital investments. Concurrent with the annual budget process, staff recommends a reprioritization of the projects listed in the CIP. Rather than focusing on a five-year timeframe, staff will be presenting projects that it believes will be needed in the next 10 years. Staff anticipates updating this new 10-year CIP on an annual basis, concurrent with the annual budget process. The intent of the 10-year CIP is to match available funding with needed projects and to highlight any funding "gaps."
Process
For the upcoming prioritization of projects for the FY 2017-2026 CIP, staff recommends an initial project ranking by staff based upon the four themes of the FranklinForward Strategic Plan. Below are some highlights of evaluation criteria staff will use organized by each of the strategic plan themes:
A Safe, Clean, and Livable City
* Eliminating a known or potential hazard, enhancing public safety.
* Impact of project deferral/delay.
* Environmental impact.
Effective and Fiscally Sound City Government Providing High-quality Services
* Rehabilitation, upgrade or new facility.
* Expected useful life and scope of project impact (neighborho...
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