To: Honorable Mayor and Members of Town Council
Through: David L. Corliss, Town Manager
From: David L. Corliss, Town Manager
Trish Muller, CPA, Finance Director
Title
Resolution Approving the 2022-2026 Five-Year Capital Improvement Program for the Town of Castle Rock
Body
________________________________________________________________________________
Executive Summary
The Town’s Five-Year Capital Improvement Program (CIP) for the years 2022 to 2026 is hereby submitted for consideration/adoption (Exhibit 1).
The purpose of a Five-Year CIP is to comply with Charter requirements and to present planning for future capital improvement projects consistent with Town Council's established goals and priorities within projected available financial resources. The first year of the CIP, 2022, corresponds with the projects and department budgets included in the 2022 Budget. Future years, 2023 through 2026, show the state of current thinking and are intended to be a planning tool and do not constitute actual financial or project commitments by the Town. A Five-Year CIP is required to be adopted by Council each year by Resolution concurrent with the process of adopting the annual budget.
This updated Five-Year CIP information is based on use of the current impact fees as adopted with the 2018 impact fee study, which includes the incorporation of inflationary indices. In addition, proposed changes to Castle Rock Water’s System Development Fee revenue have been incorporated for CIP planning as presented by Castle Rock Water within their 2021 rate and fee study.
The Five-Year CIP is an important component of Town planning including the identification of and provision for potential future projects. All planning as shown in the Five-Year CIP is subject to both future Council approvals and availability of funds.
Discussion
While there are many projects occurring in 2022, the CIP has some significant items of note that merit Council’s attention due to their impacts on the 2022 Budget such as:
Enhance our Roads
• $13,600,000 for the Crystal Valley Interchange
• $7,836,800 for the Plum Creek Pkwy Widening & Roundabout
• $7,000,000 for Highway 86 and 5th Street improvements
• $5,225,000 for Ridge Road widening
• $2,500,000 for Plum Creek Crystal Valley Roundabout
• $2,500,000 for the Wolfensberger Widening and Roundabout
• $2,000,000 for Crowfoot Valley Road Widening
• $1,500,000 for Founders Parkway Study
Secure our Water Future
• $14,192,473 for WISE project
• $10,000,000 for Newlin Gulch pipeline and pump station
• $9,620,000 for the Cherry Creek Basin infrastructure
• $6,780,000 for construction of Castle Rock Reservoir number 2
• $4,281,000 for Water Supply Wells
• $3,876,163 for Waterline Rehab/Replacement
• $2,475,000 for Security and SCADA improvements
• $1,497,596 for the Chatfield Reallocation Project
• $1,464,483 for Stream Stabilization
• $1,400,000 for Sewer Line Rehabilitation
Maintain Strong Parks and Recreation
• $4,868,000 for Annual Trail Improvements
• $1,000,000 for Multiple Park Improvements
Other significant future projects currently included in the proposed Five-Year Capital Improvement Program in years 2023-2026 throughout the Town include:
Enhance our Roads
• $15,806,000 from 2023 for the 5th Street widening project
• $14,155,250 from 2023-2024 for Wolfensberger widening and roundabout
• $4,266,000 from 2023-2025 for construction of the Plum Creek widening
• $8,548,800 from 2024-2026 for Prairie Hawk Widening - South
• $3,791,000 from 2023-2025 for Prairie Hawk Widening - North
Secure our Water Future
• $11,760,704 from 2023-2026 for WISE project
• $12,550,000 from 2023-2026 for Water supply wells
• $11,332,500 from 2023-2024 for Cherry Creek Basin Infrastructure
• $10,606,348 from 2023-2026 for the Advanced Metering Infrastructure
• $9,850,000 from 2023-2026 for Sewer Line Rehabilitation
• $8,100,000 from 2024-2025 for Rueter-Hess Water Purification Facility
• $7,988,480 from 2023-2026 for Waterline rehab/replacement
• $7,748,512 from 2023-2026 for Stream Stabilization
• $7,000,000 from 2023-2026 for Alternative Source of Supply Project
• $4,880,000 in 2023-2026 for continued work on Castle Rock Reservoir number 2
• $4,854,000 from 2023-2026 in SCADA improvements
• $4,400,000 in 2024 for Castle Rock Reservoir number 1 expansion
• $3,005,192 from 2024-2026 for the Chatfield Reallocation Project
• $2,400,000 from 2023-2026 for Pump and Distribution System Upgrades
• $2,295,000 from 2023-2024 for Kinner Street Bottleneck
• $1,960,789 from 2024-2025 for Prairie Hawk/Plum Creek Interceptors
Maintain Strong Parks and Recreation
• $3,500,000 from 2023-2026 for multiple park improvements
• $4,500,000 in 2023 for future community park, location to be determined
• $17,500,000 in 2023-2024 for design and construction of Recreation Center
Budget Impact
As shown in the 2022 Budget and 2022-2026 Five-Year Balanced Financial Plan.
Staff Recommendation
Staff recommends that Council approve the 2022 to 2026 Five-Year CIP as presented.
Proposed Motion
“I move to approve Resolution No. 2021-__, A Resolution Approving the 2022 to 2026 Five-Year Capital Improvement Program.”
Alternative Motions
“I move to approve the resolution as introduced by title, with the following conditions: (list conditions).”
“I move to continue this item to the Town Council meeting on _____ date to allow additional time to (list information needed).”
Attachments
Attachment A: Resolution
Exhibit 1: 2022 to 2026 Five-Year Capital Improvement Program