AGENDA MEMORANDUM

Meeting Date: July 9, 2007

From:                          Jerry Boop, Deputy Finance Director

Subject:                      Resolution to approve the Capital Improvement Plan for Fiscal

Years 2007-17

Staff Recommendation:

Staff recommends the Commission adopt a resolution approving the 10 year Capital Improvement Plan as a planning document.

Analysis:

In January 2007, departments began the yearly update of the 10 year Capital Improvement Plan.  The Finance Department provided the history of revenue sources and projections.

The City Commission held a workshop June 4, 2007, to discuss how growth impacts the community and the projects absolutely necessary in view of the legislative changes anticipated regarding property tax reduction.    The bond funded Capital Projects and non-bonded funded projects were proposed as described in the document.  The primary focus of the review was on 2007-08 capital expenditures totaling $21,510,765.  The Commission’s consensus will be  incorporated into the final CIP approved in September.

Capital improvements are a vital part of the operation and growth of the City of Leesburg.  Each department will use information from this document in the preparation of the proposed annual budget for fiscal year 2007-08.

Options:

1.  Adopt a resolution to approve the 10 year Capital Improvement Plan, or 

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact: 

Adopting the Capital Improvement Plan  will have no direct or immediate fiscal impact.  The impact will occur when a budget is adopted that implements all or a portion of the plan. 

Submission Date and Time:    7/9/2007 4:53 PM____

Department: ______________________ Prepared by:  ______________________                      Attachments:         Yes____   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                      Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. __________________                                    Deputy C.M. ___________________                                          Submitted by: City Manager ___________________

Account No. _________________ Project No. ___________________ WF No. ______________________ Budget  ______________________ Available _____________________

RESOLUTION NO._______________

 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, APPROVING THE CAPITAL IMPROVEMENT PLAN FOR FISCAL YEARS 2007-17 PROVIDING THAT PROJECTS SHALL BE EVALUATED FOR FISCAL FEASIBILITY AND DULY AUTHORIZED BY THE COMMISSION PRIOR TO COMMENCEMENT; AND PROVIDING AN EFFECTIVE DATE.

            WHEREAS the Mayor and City Commission adopted a 10-year Capital Improvement Plan for Fiscal Years 2006-16, which was used as a planning document for the budget for fiscal year 2006-07; and

WHEREAS on June 4, 2007, the City Commission met to discuss bonded Capital Projects and available funds for non-bonded projects to determine priorities;

WHEREAS the Capital Improvement Plan for Fiscal Years 2007-17 will incorporate the results of the City Commission workshop and will be used during the preparation of the budget for Fiscal Year 2007-08;

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

            THAT the Capital Improvement Plan for fiscal years 2007-17 is hereby approved as discussed at the June 4, 2007, workshop with the provision that projects shall be evaluated  for fiscal feasibility and duly authorized by the Commission prior to commencement.

 THAT this resolution shall become effective immediately.

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the  9^th  day of July, 2007.

                                                                            __________________________

                                                                             Mayor

ATTEST:

__________________________

City Clerk