Title
Adoption of the 2023-28 Capital Improvement Program (Resolution 22127)
Description
Request City Council approval of a resolution adopting a 2023-28 Capital Improvement Program (CIP) for the City of Phoenix. This resolution does not appropriate or commit any public funds, but represents an endorsement of the proposed capital improvements and the five-year plan of expenditure as a reasonable and desirable plan to be accomplished by the City. A five-year capital plan is considered a best financial practice.
Report
Summary
The Five-Year CIP is a plan for the replacement, expansion and improvement of city infrastructure, facilities and technology used to deliver community services. It is financed from pay-as-you-go funds, property tax and revenue supported bond proceeds, federal, state and other participation funds, passenger facility charges, customer facility charges, participation by other governmental entities in certain projects, development impact fees, capital grants, capital reserves, solid waste remediation funds and other capital funding sources.
The Preliminary Five-Year CIP was presented to the City Council on March 21, 2023. The 2023-28 CIP proposed for adoption includes adjustments to reflect carryovers and known cost and resource changes.
The City Charter requires that the Five-Year CIP be adopted by resolution following the advertised public hearing, which this year will take place at the Formal meeting on May 31, 2023.
Adoption of the resolution (Attachment A) does not commit any funds, but represents an endorsement of the CIP as a desirable plan to be accomplished over the next five years. The first year of the CIP is adopted by ordinance as part of the annual budget adoption process, which provides the only authority to commit funds.
Department
Responsible Department
This item is submitted by City Manager Jeffrey Barton and the Budget and Research Department.