File #: 16-0649    Version: 1 Name:
Type: Report Status: Agenda Ready
File created: 7/28/2016 In control: Work Session
On agenda: 8/9/2016 Final action:
Title: Continued Discussion Regarding the Development of the Capital Investment Plan for Fiscal Years 2017-2026
Sponsors: Engineering
Attachments: 1. CIP_FY2017-2026_BOMASelections_NonWeighted.pdf, 2. CIP_FY2017-2026_BOMASelections_Weighted.pdf

 

DATE:                                                               August 2, 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 Capital Investment Plan for Fiscal Years 2017-2026

body

Purpose

The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the ongoing selection process for inclusion of projects in the Capital Investment Plan (CIP) for fiscal years (FY) 2017 through 2026.

 

Discussion

Since April of this year, staff and the BOMA have been working to develop a new, expanded CIP for the ten (10) year window of FY 2017-2026.  At their July 12TH work session, the BOMA members were asked to individually select a list of projects to be included in the upcoming CIP.  More specifically, the projects were to be selected with two (2) funding thresholds, $30M and $100M, as guides.  As of July 20TH, staff had received project selections from all BOMA members.  This information was combined and used to develop two (2) lists of projects:

 

•                     FY 2017-2026 CIP - BOMA Selections - Non-Weighted

o                     One (1) point per individual vote assigned to each project selected

o                     Maximum point total of 9 (e.g. all members selected a project)

 

•                     FY 2017-2026 CIP - BOMA Selections - Weighted

o                     Points were assigned to each project as follows:

§                     Two (2) points per individual vote assigned to each project selected in the $30M tier

§                     One (1) point per individual vote assigned to each project selected in the $100M tier

o                     Maximum point total of 18 (e.g. all members selected a project in their $30M tier)

 

Schedule

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The schedule, as currently proposed, for the continued development of the FY 2017-2026 CIP is as follows:

 

 

•                     August 9, 2016

o                     Presentation and discussion of initial BOMA project priorities

 

•                     August - October 2016

o                     Presentation of preliminary financial model from PFM

o                     Selection of consensus projects

o                     Continued discussion and selection of projects for inclusion in FY 2017-2026 CIP