DATE: July 12, 2016
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Paul Holzen, City Engineer
Jonathan Marston, Assistant Director of Engineering
SUBJECT:
title
Continued Discussion Regarding the Development of the Fiscal Years 2017-2026 Capital Investment Plan
body
Purpose
The purpose of this memorandum is to provide updated information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the prioritization of projects within the Capital Investment Plan (CIP) for fiscal years (FY) 2017 through 2026.
Discussion
Since April of this year, City staff and the BOMA have been working to develop an updated CIP. Beginning this year, the CIP timeframe will be expanded from the previous five (5) years to ten (10) years. Initially, staff compiled a list of projects that are anticipated to be needed within the next ten (10) years. During subsequent meetings, the BOMA has provided additional projects for consideration in this CIP.
As mentioned in previous previously, staff has scored these projects using an objective set of questions that are based on the four (4) themes of the FranklinForward Strategic Plan. This scoring then gave staff the ability to break the projects into four (4) tiers (e.g. quartiles):
• Top 25% (««««)
• Top 50% («««)
• Bottom 50% (««)
• Bottom 25% («)
This ranking system simply allowed for a logical starting point to discuss and prioritize the list of projects. As always, the BOMA will select the projects to be funded. Within the framework of the CIP, the projects selected for funding by the BOMA will be referred to as 5-star («««««) high priority projects. After final selection of the funded projects by the BOMA, staff with then update the CIP document will updated to reflect the BOMA’s final decisions.
Schedule
The schedule, as currently proposed, for the continued development of the FY 2017-2016 CIP is as follows:
• July 12, 2016
o BOMA to Discussion of results from initial BOMA selection (e.g. evaluation worksheet for $30M and $100M tiers) of high priority projects.
• August 9, 2016
o Discussion of results from initial BOMA selection (e.g. evaluation worksheet for $30M and $100M tiers) of high priority projects.
o Selection of consensus high priority projects.
o Presentation of “consensus projects” with initial financial scenarios.
o Continued discussion on remaining projects.
• August - October 2016
o Final discussions to select projects to be funded within 2017-2026 CIP.
o Approval of resolution to Implement FY 2017-2026 CIP