To: Honorable Mayor and Members of Town Council
Through: David L. Corliss, Town Manager
From: Trish Muller, CPA Finance Director
Title
Resolution Approving the 2023-2027 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 2023 to 2027 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, 2023, corresponds with the projects and department budgets included in the 2023 Budget. Future years, 2024 through 2027, 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 include 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 2022 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 2023, the CIP has some significant items of note that merit Council’s attention due to their impacts on the 2023 Budget such as:
Enhance our Roads
• $18,500,000 for the 5th Street Widening
• $1,144,000 for the design of Wolfensberger Widening and Roundabout
• $813,000 for the design of Plum Creek Widening
• $606,900 for the design of Prairie Hawk S. Millers Rndbt to Plum Creek
• $600,000 for the Park St. & Wolfensberger Rd Intersection
Secure our Water Future
• $19,580,000 for Castle Rock Reservoir System
• $14,171,260 for WISE project
• $8,531,000 for Water Supply Wells
• $5,188,655 for Water Rights Acquisition
• $4,440,010 for Stream Stabilization
• $4,000,000 for Plum Creek Interceptors
• $3,200,000 for PCWPF Expansion and PC Central Pipeline
• $3,000,000 for Alternative Source of Supply Project
• $2,170,000 for Cherry Creek Basis Water
• $1,805,380 for Advanced Metering Infrastructure
• $1,720,000 for Security and SCADA improvements
• $1,642,450 for Waterline Rehab/Replacement
• $1,307,941 for ECCV N-S Pipeline Capacity
• $1,300,000 for Chatfield Reallocation and Pump-Back Projects
Maintain Strong Parks and Recreation
• $3,500,000 for Future Parks
• $300,000 for Multiple Park Improvements
• $250,000 for Annual Trail Improvements
Other significant future projects currently included in the proposed Five-Year Capital Improvement Program in years 2024-2027 throughout the Town include:
Enhance our Roads
• $18,700,000 from 2025 for Wolfensberger widening and roundabout
• $9,560,000 from 2024-2026 for 86 Widening-Ridge to Enderud
• $9,500,000 from 2027 for Perry Street Extension
• $7,504,300 from 2024-2026 for Prairie Hawk Widening - South
• $5,850,000 from 2024 for construction of the Plum Creek widening
• $5,200,000 from 2024 for Prairie Hawk Widening - North
• $1,050,000 from 2025 for I-25 Plum Creek Parkway Off Ramp
• $1,015,000 from 2027 for East Frontage Road Improvements
Secure our Water Future
• $70,215,000 from 2024-2027 for PCWFP Expansion and PC Central Pipeline
• $44,945,190 from 2024-2027 for Wise Project
• $18,000,000 from 2027 for Plum Creek to RHR Pipeline and pump station
• $17,300,000 from 2024-2027 for Water Supply Wells
• $13,275,565 from 2024-2027 for Stream Stabilization
• $9,600,000 from 2024-2027 for Sewer Line Rehabilitation
• $6,200,000 from 2024-2027 for Water Storage Tank Projects
• $4,598,000 from 2024-2027 for Waterline Rehab/Replacement
• $3,640,000 from 2024-2027 for Security and SCADA System Improvements
• $3,497,000 from 2024-2026 for Advanced Metering Infrastructure
• $2,750,000 from 2024-2027 for Pump & Distribution System Upgrades
Maintain Strong Parks and Recreation
• $15,000,000 from 2025 for Recreation Center
• $2,102,000 from 2024-2027 for Synthetic Turf Replacement/Concrete
• $1,200,000 from 2024-2027 for Park Improvements
Budget Impact
As shown in the 2023 Budget and 2023-2027 Five-Year Balanced Financial Plan.
Staff Recommendation
Staff recommends approval of the resolution as presented.
Proposed Motion
“I move to approve the resolution as introduced by title.”
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
Attachment B: 2023 to 2027 Five-Year Capital Improvement Program