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2006 Capital Improvement Budget

2006 Capital Improvement Budget. Capital Improvement Plan to Capital Improvement Budget Receive further direction Property Tax Projects Parks and Recreation Projects (sales tax). 2006 Capital Improvement to Capital Budget.

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2006 Capital Improvement Budget

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  1. 2006 Capital Improvement Budget • Capital Improvement Plan to Capital Improvement Budget • Receive further direction • Property Tax Projects • Parks and Recreation Projects (sales tax)

  2. 2006 Capital Improvement to Capital Budget • Projects Compiled into a Draft CIP for Review by the Planning Commission • Projected Resources Available in 2006 for the Capital Budget • Created Funding Options for City Commission discussion and direction • City Manager recommends Operating and Capital Improvement Budget

  3. 2006 Capital Improvement to Capital Budget • $18,573,000 of projects proposed for 2006 • $8,525,000 - City Cost of proposed projects • $7,848,000 – Funded by federal or state grants and benefit districts • $2,200,000 - Kasold Bridge over KTA – no cost to city, funded by State and County

  4. 2006 Capital Budget – Property Tax Options • Established Three Funding Tiers • No levy increase, 0.25 mill increase, 0.50 mill increase • 2005 debt levy = 7.07 mills • 6% annual increase in valuation

  5. 2006 Capital Budget Property Tax Tier One - no increase

  6. 2006 Capital BudgetProperty Tax Tier Two - 0.25 mill

  7. 2006 Capital Budget Property Tax Tier Three - 0.50

  8. 2006 Capital Budget – Property Tax Options • Discussion / Direction

  9. 2006 Capital Budget – Sales Tax Options • $3,286,000 of parks and recreation projects were proposed in the Capital Improvement Plan for 2006 • No outside funding

  10. 2006 Capital Budget – Further Direction • Finance selected projects through a mix of cash and debt • Debt finance all proposed projects - 2nd generation bonds • $309,000 paid off in 2005 = $2,950,000 of annual debt support starting in 2006 • $514,000 paid off in 2006 = $4,950,000 of annual debt support starting in 2007

  11. 2006 Capital Budget- Sales Tax Options • Discussion / Direction

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