HomeMy WebLinkAboutResolution 15-125 Resolution 15-125
A Resolution Prescribing a Long-Range Capital Investment Plan and Planning
Process to Better Meet the Future Capital Needs of the Community
Whereas, the City Council is committed to effective and efficient long-range planning as
a tool for the implementation of the community's vision for growth, sustainability, and
entrepreneurship; and
Whereas, the City Council has identified an extensive list of potential capital
expenditures and projects designed to achieve the community's vision; and
Whereas, the City has a past practice of annually adopting a five-year rolling Capital
Improvement Plan (CIP) designed to identify, prioritize, and finance capital expenditures
from various funds; and
Whereas, it has become evident the extensive list of potential capital expenditures and
projects requires more extensive financial planning than the previous CIP development
practices; and
Whereas, the City has enforced the collection of Second Penny Sales and Use Tax
Revenues in the City which are dedicated to capitalized investment with 75 percent of
said revenue stream dedicated to non- public safety capital improvements which has
proven to be an effective means of financing capital improvements necessary for
community improvements (Public Improvement Fund).
Now, Therefore, Be It Resolved by the City Council of the City of Brookings, South
Dakota that;
(1) The Capital Improvement Plan (CIP) be continued using a five-year rolling
schedule to identify capital expenditures; but limit the contents of the CIP for the
repair, replacement, acquisition of vehicles and equipment, existing buildings and
structures, and routine preventative maintenance to infrastructure.
Be It Further Resolved that:
(2) The City adopt a Community Reinvestment Plan (CRP) using a ten-year rolling
schedule to identify capital expenditures that constitute a strategic effort to guide
proper investments utilizing the Public Improvement Fund. The CRP shall
include new or major expansions to existing facilities including but not limited to
buildings and grounds for future public facilities, property for future development
use, right-of-way, public open space or parkland; and new infrastructure projects
such as roads, streets, bridges, utilities, or parking lots.
Be It Further Resolved that:
(3) The CIP and CRP shall be updated annually as part of the budget approval
process and is intended to be a strategic investment guide for future City Council
decisions. As such, both planning documents shall remain flexible to changing
conditions, circumstances, and community expectations.
Be It Further Resolved that:
(4) The 2017-2026 CRP shall plan for the asset allocation from the Public
Improvement Fund of investment in the following general areas:
a. $6 million for the SDSU Performing Arts Center from 2017-2027.
b. $5.6 million for the Brookings Recreation Community Center for 2017-
2021. Other funding from for this facility will be from a voter-approved
referendum not to exceed $15 million and additional funding from
donations and sponsorships.
c. $750,000 for the Brookings Hospital Expansion from 2017-2027.
d. $11 million from 2017-2026 for major street repair and overlayments.
(This item is part of the CIP. It is in shown in the CRP to reserve funds
over the 10 years to maintain quality of our roads)
e. $11 million from 2017-2026 for new street construction (West 2ptn
Street South, Western Avenue), 6th Street Gateway Enhancements,
airport crosswind runway/taxiway improvements, and East 20th Street
South overpass/interchange.
f. $5 million for Swiftel Center between 2017-2026 for general building
upgrades and improvements to conference/meeting space.
g. $5 million for upgrades, enhancements to park facilities from 2021-
2026 including ball field complexes, trail extensions, and new parks.
Adopted and Approved this 8t" day of December, 2015 by the City Council of the City of
Brookings, South Dakota.
CITY OF BROOKINGS
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Shari Thornes, City Clerk