HomeMy WebLinkAboutPresentation 06-07 Capital Plan 04-12-07CITY OF MIAM_
CAPFrMA• IM I'RQVEAiIIVT PIIOGIIA
204 M I I : i'f-YESR CAPITAL PION
DEVELOPMENT PROCESS
❖ Delivery (planning, design and construction) of the $155
million of projects funded through the first series of the
Homeland Defense/Neighborhood Improvement Bond
(HD1)
❑Project deferrals and advancements (swaps) between HD1
and HD2 continued to be required to insure the commitment
and expenditure of all HD1 proceeds.
❖ Identification of funding gaps for purposes of
reallocating HD2 to complete the projects begun using
HD1
DEVELOPMENT PROCESS
❖ Delivery of all other capital projects funded through
sources other than HD1 or HD2
❑ Including design of various street infrastructure, traffic
calming, and flood mitigation projects for which the
construction will be funded through the first series of the
proposed Streets Bond.
DEVELOPMENT PROCESS
•'• Adjustments to project funding allocations due to:
❑ Refinement of project scopes and cost estimates based on
consideration of public input
❑ Response to unforeseen conditions such as soil conditions,
underground utilities, etc.
❑ Allocation of new revenue collections or sources (such as
transit'/2 cent surtax, local option gas tax and grants)
❑ Cost escalation due to highly competitive construction market
conditions currently being encountered by state and local
governments.
DEVELOPMENT PROCESS
•:• Modification to projects (deferrals, additions or
deletions) based on unforeseen conditions or changed
priorities
Continued refinement of the Streets Bond projects
rroposed Community Building
LITTLE HAITI SOCCER PARK
OCTOBER 11. 2005
PROPOSED STREETS BOND
•:� $150 million special obligation bond secured by following
recurring revenue sources:
❑ Transit 1/2 cent surtax
❑ Local option gas tax
❑ Parking surcharge
EXPENDITURE HISTORY CHART
CAPITAL EXPENDITURES BY FUND
Fiscal Years 2001-2006
FY2006 Six -Year
FY2001 FY2002 FY2003 FY2004 FY2005 Audited Draft Total
Community Redevel. Area 342,151
342,151
General Government 8,783,576
12, 745, 765 14, 291, 740
13, 366,705 19,884,342
22,942,327 92,014,455
Public Safety 5,645,758
4,769,350 4,294,039
2,966,530 3,691,041
5,393,329 26,760,047
Disaster Recovery 303,659 1,372,924 1,480,407 4,030,609 2,236,357 724,845 10,148,801
Public Facilities
2,044,163
3,443,803 3,733,474
6,996,211 5,106,933
5,209,422 26,534,006
Parks & Recreation
7,949,722 8,102,014 6,270,715 12,707,092 21,590,807 21,744,223 78,364,573
Streets & Sidewalks
3,953,856
4,547,662 3,288,732
11,041,884 35,782,582
38,280,345 96,895,061
Mass Transit
Sanitary Sewers
1,779,918 356,214 62,012 1,264,303 78,222 3,540,669
S
torm Sewers 3,051,332
4,195,545 3,809,560
3,239,327 4,781,591
5,786,936 24,864,291
Solid Waste
1,999,949 4,319,422 5,045,759 296,634 342,974 3,734,537 15,739,275
Total $ 34,074,166 $ 45,276,403 $ 42,570,640 $ 54,707,004 $ 94,680,930 $ 103,894,186 $ 375,203,329
Percent change from prior year
32.9% -6.0% 28.5% 73.1% 9.7%
Notes:
Expenditure figures for FY2000 through FY2005 are from the CAFR's.
Expenditure figures for FY2006 are audited draft numbers.
OTHER SIGNIFICANT INITIATIVES
❖ Planning and development of a comprehensive renovation
of the Orange Bowl Stadium
❖ Advancement of the Streetcar project, a critical element in
the City's compliance with state mandated transportation
concurrency
❖ Transitioning of the Museum Park project planned for the
existing Bicentennial Park site from the master plan stage
to design development.
MIAMI STREETCAR
❖ Purpose
❑ Responds to Miami 21 Smart Growth
❑ Addresses requirements of Growth Management Act of 2005 by
providing an alternative mode of transportation
❖ Next Steps
❑ Alternatives Analysis - Completed and will be presented to City
Commission for approval in May 2007
❑ Develop a Public/Private Partnership
6pte eit#, 6pte 76ttore,
GROWTH MANAGEMENT BILL SB-360
Transportation Investments to Support
Growth Management
Senate Bill 360 (Chapter 2005-290, Laws of Florida)
($ in millions)
10-Year
05-06 06-07 07-08 08-09 09-10 10.11 11-12 12.13 13-14 14-15 TOTAL
General Revenue Cash
$1,117 $542 $542 $542 $542 $542 $542 $542 $542 $542
$5,995
March 2005 Tentative Work Program
$6,960 $6,293 $6,067 $5,233 $6,069 $6,402 $6,311 $6,321 $5,964 $6,000
$61,620
Tentative Work Program Capacity
$3,240 $2,642 $2,506 $2,172 $2,538 $2,658 $2,555 $2,468 $2,123 $2,400
$25,302
Uses of Additional Funds - Commitments
SIS Projects
$300
$475
$500
$500
$500
$500
$500
$485
$485
$485
$4.730
State Infrastructure Bank
$100
$100
Regional/Local Priorities
New Starts Transit Program
$54
$65
$70
$70
$75
$75
$75
$75
$75
$75
$709
Small County Outreach Program
$27
$35
$35
$35
$35
$35
$35
$35
$35
$35
$342
Transportation Regional incentive Program
$275
$200
$135
$135
$135
$135
$135
$135
$135
$135
$1,555
County Incentive Grant Program
$25
$25
Subtotal
$381
$300
$240
$240
$245
$245
$245
$245
$245
$245
$2,631
Total
$781 $775 $740 $740 $745 $745 $745 $730 $730 $730 $7,461
Note:
These are funds that are new to transportation that will be added to the Florida DOT Work Program. The amounts above are Work Program
"commitments" That would be generated from the cash from General Revenue nonrecurring of $575 million In fiscal year 2005-06 and
Documentary Stamps Tax of $541.75 million annually beginning In fiscal year 2005.06 to be deposited in the State Transportation Trust Fund.
FACILITY ASSESSMENTS EFFORT
❖ CIT Department conducted facility assessments for each
client department utilizing the previously unfunded
requirements as the starting point.
❑ Goal was to determine any work necessary to repair or upgrade
the facility to modern standards to meet current needs and insure
efficiency and cost effectiveness
❖ Amendment to the current capital plan is anticipated to
more clearly define and discuss the projects identified as
unfunded needs resulting from this comprehensive
facility assessment
2006-2007 CAPITAL PLAN BY FUNDS
❖ Largest funds are Streets and Sidewalks 32.0%, Parks
and Recreation 20.2%, and Public Facilities 11.1%.
FUNDING SUMMARY BY FUND - TOTAL OF $800.5M
❑ $0.7M
0.1
• $28.5M
3.6°L.
❑ $256.2M
32.0%
❑ $108.3M
13.5%
❑ $6.6M ❑ $5.5M
0% 0.7%
.8
❑ $54.0M ❑ $88.6M
6.7% 11.1%
❑ $162.1 M
20.2%
❑ $3.9M
0.5%
❑ $86.1 M
10.8%
❑ 301-CRA projects
❑ 311-General Government
❑ 312-Public Safety
❑ 313-Disaster Recovery
❑ 325-Public Facilities
❑ 331-Parks and Recreation
❑ 341-Streets and Sidewalks
• 343-Mass Transit
❑ 351-Sanitary Sewers
❑ 352-Storm Sewers
❑ 353-Solid Waste
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❑ Grant - Federal
❑ Grant - State
❑ Grant - Miami -Dade County
❑ Grant - Other
❑ City Bonds
❑ CIP Fees/Revenues
❑ Private Donations/Other
BREAKDOWN BY FUNDING TYPE
❖ The City Bonds represents the largest share of funding in
the Capital Plan.
FUNDING SUMMARY BY FUND TYPE - TOTAL OF $800.5M
❑ $14.4M
❑ $13.6M 1.8%
1.7%
FUNDED PROPORTION
•
•
Unfunded amounts account for 44% of total estimates.
•
•
Projects will be evaluated annually based on priorities and availability
of funding.
MOST SIGNIFICANT PARTIALLY
FUNDED PROJECTS
•:• Fire Stations (F.S.) #1 & 10 —These projects have a
cumulative shortfall of $6 million.
•:• Wagner Creek/Seybold Canal Dredging - This project
currently has a shortfall of $11.4 million.
•:• Museum Park — The City's portion of the park
improvements is approx. $70 million and unfunded.
❖ Orange Bowl Redevelopment — Shortfall to be determined.
OPERATING IMPACT
❖ Capital Project impacts attempt to identify all associated operating
costs (human resources, maintenance, utilities, equipment) as well as
revenues.
Current Year 1 Year 2 Year 3 Year 4 Year 5
Department FY 2006-07 FY 2007-08 FY 2008-09 FY 2009-10 FY 2010-11 FY 2011-12 Totals
Parks & Recreation 999,000 1,848,950 1,941,398 2,038,467 2,140,391 2,247,410 11,215,616
Public Works 232,690 268,588 287,863 307,316 327,783 217,518 1,641,758
Public Facilities
0-26,260 -9,699-39,071-63,089 -90,482 -228,601
Fire
0
0 8,000 17,000 17,000 17,000 59,000
Police 1,800 3,842,668 1,709,218 1,481,110 1,335,838 1,255,083 9,625,717
Report Totals
Total Operating Budget Impact 1,233,490 5,933,946 3,936,780 3,804,822 3,757,923 3,646,529 22,313,490
PREMISE FOR HD2 REALLOCATIONS
❖ Complete all projects initiated using HD1 proceeds, excepting
those few projects no longer deemed priorities based on
changed circumstances
❖ Complete the Homeland Defense/Public Safety projects, such
as the Police Training Facility and Fire Stations #11, 13 & 14,
that were specifically enumerated in the bond voter referendum
❖ Address funding gap on priority projects identified in the Bond
program
❖ Fund and complete projects already in design and development
❖ Unanimously approved by the Bond Oversight Board on April
10, 2007
NExT STEPS
❖ Present appropriations amendment to reflect
reallocations included in Capital Plan
❖ Meet with three rating agencies within next 6 weeks
❖ Present legislation to City Commission to approve
issuance of bonds
❖ Have next series of HD and first series of Streets Bonds
available in Summer 2007
❖ Continue seeking financing options to fund infrastructure
needs, including deferred maintenance