To: Honorable Mayor and Members of Town Council
From: David L. Corliss, Town Manager
Trish Muller, Finance Director
Title
Resolution: Approving the 2019 to 2023 Five-Year Capital Improvement Program
Body
________________________________________________________________________________
Executive Summary
The Town’s Five-Year Capital Improvement Program (CIP) for the years 2019 to 2023 is hereby submitted for consideration/adoption.
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, 2019, corresponds with the projects and department budgets included in the 2019 Budget. Future years, 2020 through 2023, show the state of current thinking, 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 proposed changes to impact fees, concurrent with the impact fee study engaged in 2018. In addition, proposed changes to Castle Rock Water’s System Development Fee revenue have been incorporated for CIP planning. These changes have been presented to Council within a separate agenda item.
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 2019, the CIP has some significant items of note that merit Council’s attention due to their impacts on the 2019 Budget such as:
• $18,978,309 for Plum Creek Water Reclamation Authority projects
• $14,000,000 for expansion of the Plum Creek Water Purification Facility
• $6,170,000 for continued investment in the WISE project
• $5,523,994 for work on the Plum Creek Diversion project
• $5,455,300 for work on Newlin Gulch pipeline items
• $4,413,007 for construction of water supply wells
• $4,358,580 for continuation of the Chatfield Reallocation project
• $3,897,330 for stream stabilization projects
• $2,667,500 for widening of Plum Creek Parkway from Gilbert Street to Eaton Circle
• $2,272,971 for the purchase of replacement and additional vehicles
• $2,000,000 for construction of a roundabout at Plum Creek Parkway and Gilbert Street
• $1,250,000 for construction of a roundabout at Wilcox Street and South Street
Other significant future projects currently included in the proposed Five-Year Capital Improvement Program in years 2020 and 2021 include:
• $6,755,850 in 2020 and $3,755,850 in 2021 for Alternative Source of Supply projects
• $5,061,920 in 2020 for Newlin Gulch pipeline items
• $4,540,500 in 2020 for construction of a widening to Ridge Road
• $4,320,500 in 2021 for widening of Plum Creek Parkway from Eaton Circle to Ridge Road
• $4,050,000 in 2020 and $5,023,151 in 2021 for ongoing investment in the WISE project
• $3,475,609 in 2021 water storage tank projects
• $3,400,000 in 2020 for construction of a new neighborhood park
• $3,100,000 in 2020 for transportation infrastructure improvements in the Craig and Gould neighborhood
• $2,937,252 in 2020 for construction of a new Castle Rock Water administration and customer service building
• $2,757,000 in 2021 for widening of Plum Creek Parkway west of I-25
• $2,660,000 in 2021 for construction of a roundabout at Crowfoot Valley Road and Timber Canyon
• $2,553,464 in 2020 and $2,352,935 in 2021 for continued investment in PCWRA improvements
• $2,249,816 in 2021 for multiple stream stabilization projects
• $2,222,599 in 2020 and $2,698,259 in 2021 for the purchase of replacement and additional vehicle purchases
• $2,000,752 in 2020 and $1,098,661 in 2012 for the Chatfield Reallocation project
• $1,331,925 in 2020 for construction of stormwater improvements in the Craig and Gould neighborhood
• $1,243,000 in 2020 for water line rehabilitation and replacement
Budget Impact
As shown in the 2019 Budget and 2019-2021 Three Year Balanced Financial Plan.
Staff Recommendation
Staff recommends that Council approve the 2019 to 2023 Five-Year CIP as presented.
Proposed Motion
“I move to approve Resolution No. 2018-__, A Resolution Approving the 2019 to 2023 Five-Year Capital Improvement Program.”
Attachments
Attachment A: Resolution
Exhibit 1: 2019 to 2023 Five-Year Capital Improvement Program