IMPROVEMENT PLAN FY 2020 - FY 2024 Capital Improvement Plan

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IMPROVEMENT PLAN FY 2020 - FY 2024 Capital Improvement Plan CAPITAL IMPROVEMENT PLAN FY 2020 - FY 2024 Capital Improvement Plan FY 2020-FY 2024 TABLE OF CONTENTS Section 1: Executive Summary................................................................................................1 Section 2: CIP Purpose and Process…………………………………………………………………………………12 Section 3: FY 2019/20 – FY 2023/24 Summary………………………….…………………………………....14 Section 4: Capital Improvement Plan by Fund Community Olde Schaumburg Development Block Grant Fund Historic District Page 33 Page 31 North Capital Improvement Schaumburg TIF Fund Fund Page 41 Page 35 Vital Streets Airport Fund Program Fund Page 78 Page 67 Baseball Stadium Commuter Lot Fund Fund Page 85 Page 83 Building Utility Fund Replacement Fund Page 89 Page 115 Capital Improvement Plan FY 2020-FY 2024 EXECUTIVE SUMMARY Please find for your review and consideration, the proposed FY 2019/20 to FY 2023/24 Capital Improvement Plan (CIP) for the Village of Schaumburg. The Capital Improvement Plan is a comprehensive plan that sets the direction and priorities for the village’s capital improvement projects and associated funding for the next five years. The CIP is updated annually and represents the Village of Schaumburg’s commitment to sustaining its community facilities and infrastructure in an appropriate state of repair and to constructing new world class infrastructure, where existing assets have surpassed their useful life. The CIP is comprised of village improvements, typically of $50,000 or more in cost that add value to the village’s infrastructure. During the preparation of the CIP, staff assesses the condition of the village’s infrastructure, reviews the previous five-year plan for any adjustments, and identifies projects through a series of workshops focused on each of the following ten categories: • Roadways • Water/Sewer • Buildings • Bikeways • Community Improvements • Parking Lots • Sidewalks • Street Lights • Traffic Signals • Airport At these meetings, staff from each village department discuss capital improvements in these areas and rank them based on priority. Projects that are a high priority of the Village Board, mandated by another level of government, or are required to maintain existing service levels are identified as the highest priority and scheduled in the earliest and most appropriate year of the five year plan. Additional projects that enhance service levels, or are discretionary in nature are programmed based on priority and available funding. After the workshops, the Village Manager’s Office meets with the multi-department CIP team and discusses project priority, funding sources, and strategic objectives. With this direction, staff finalizes the proposed project schedules and places projects within the village’s five year financial plans. The village’s CIP is a continuous process that includes annual review, revision, adoption, and incorporation into the annual budget. Together, the budget and CIP set the short and long-range financial plans for the Village of Schaumburg. This summary includes an overview of both the expenses and funding for the overall five year plan, a breakdown of the total expenditures by project type and project category, and a breakdown of the various revenue sources to fund the plan. The summary also provides project highlights for FY 2019/20. 1 Capital Improvement Plan FY 2020-FY 2024 OVERVIEW OF THE FIVE YEAR PLAN: The village’s FY 2019/20 to FY 2023/24 CIP proposes $224 million in total spending. The village anticipates securing $59 million in grant funding, leaving $165 million to be funded through local sources. The chart below outlines the funding anticipated to be received through grants. Pass through grants are paid for directly by the granting entity while reimbursement grants obligate the village to pay the full cost and be reimbursed upon completion. Fiscal Total Cost Reimbursements Pass Through Village Year Grants FY 2019/20 $58,194,217 $2,661,827 $19,291,200 $36,241,190 FY 2020/21 $40,512,982 $1,586,058 $10,032,700 $28,894,224 FY 2021/22 $56,628,195 $1,200,200 $11,653,200 $43,774,795 FY 2022/23 $31,357,190 $1,330,900 $4,946,800 $25,079,490 FY 2023/24 $37,730,320 $956,260 $5,676,800 $31,097,260 Total $224,422,904 $7,735,245 $51,600,700 $165,086,959 BREAKDOWN OF EXPENDITURES: When the CIP is broken down by project category, the largest portion of the plan is Category Percentage dedicated to roadways at $146 million (64.9%). Roadway Improvements 64.9% This level of funding supports the Village Water/Sewer Improvement 16.4% Board’s directive to maintain the local street Community Improvements 3.9% repair and reconstruction programs at $8 million Building Improvements 3.8% per year each of the next five years and an additional three years beyond the plan. Bikeway Improvements 3.8% Furthermore, water and sewer improvements Sidewalk Improvement 2.4% comprise $37 million or 16.4% of the total CIP Parking Lot Improvements 2.0% followed by community improvements, building Airport Improvement 1.9% improvements, and bikeway improvements. The Traffic Signal Improvement 0.5% chart to the right illustrates the division of CIP funding by category for all five years. Street Light Improvements 0.4% The proposed projects programmed for FY 2019/20 through FY 2023/24 include new projects, carryover projects, continuing projects, and annual programs. Over the five year program, 59% of budgeted expenditures are dedicated to continuing projects. Continuing projects span over a two or three year period. A large majority of these projects are roadway improvements that take multiple years to complete from preliminary design through construction. Moreover, 32% of CIP expenditures will be dedicated to on-going annual programs that the village has committed to such as, the Residential Street Repair and Reconstruction Program, the Emerald Ash Borer (EAB) Program, and the Sidewalk Repair Program. In FY 2019/20, a Water Main Replacement Program has been incorporated into the CIP to complete work that is associated with residential street repair. This new program will allow the village to replace aging water main as part of the local street repair program allowing the village to capitalize on economies of scale and limit disturbances in neighborhoods to one construction season. 2 Capital Improvement Plan FY 2020-FY 2024 New projects constitute 5% of the CIP expenditures over the plan. These are 5% 4% projects that have not yet initiated design or construction, but are scheduled to begin at some point during the five year plan. Lastly, carryover projects encompass 4% of the CIP. Carryover projects are projects that were not completed in the previous fiscal year, requiring funds to be rebudgeted in the 32% following year. While the village does its best to predict the projects that can be completed within a fiscal year, occasionally there are obstacles to completing the projects such as bid scheduling, weather delays, and delays in grant funding, causing the remaining portion 59% of the project to be “carried over” to the next fiscal year. Carryover projects include completion of Progress Parkway in the North Schaumburg TIF and reconstruction of Plum Continuing Project Annual Program Grove Road from Higgins Road to Golf Road. New Project Carryover Project The Village of Schaumburg views its planning and operations in a strategic manner and thus utilizes various formal studies to help assign priorities to the projects included in the five year plan. Many of the projects in this plan were identified through these studies that have been reviewed and approved by the Village Board. In FY 2018/19, the village conducted a pavement condition assessment to reprioritize streets based on the current condition. Staff is currently assessing the updated data to determine the streets to be included in next year’s program and will provide a revised “State of the Streets” report to the Village Board in early 2019. Additionally, Engineering and Public Works staff retained a consultant to update the village’s facility condition assessment, which was last completed in 2013. This study will be completed in early 2019 and will be used to identify new capital projects for consideration in future capital improvement plans. The proposed CIP also includes projects identified in the 2016 Utility Fund Study needed to maintain the system into the future. This study considered utility infrastructure projects and put together a five year financial plan to ensure the village has the necessary resources to pay for them. The Sidewalk Gap Study, Street Light Gap Study, Bicycle Gap and Condition Assessment, and the Public Safety Building Master Plan are examples of other studies that have been accepted by the Village Board and the projects identified have been incorporated into the five year plan. 3 Capital Improvement Plan FY 2020-FY 2024 BREAKDOWN OF FUNDING: The village’s Capital Improvement Plan consists of capital projects in ten funds 4% and each utilizes various revenue 10% sources. No one funding source would be 26% sufficient; therefore, a variety of funding sources are identified to diversify and sustain the revenues needed. The chart to 10% the right shows the variety of funding sources the village uses to finance this plan. As shown, the largest revenue source is funds received from other agencies which 13% are typically recognized in the form of grants. The village diligently seeks, and is fortunate to receive, a large amount of grant funding to help offset the costs of 21% capital projects. The chart below depicts 16% the amount of money the village anticipates receiving from other agencies compared to the village’s share for the proposed five year CIP. Because granting Other Agencies User Fees authorities require the design phase to be completed prior to awarding available Taxes Interfund Transfers grant funds, the latter years of the plan will Property Tax Increment Bonds be refined in the future once grant funding Other is secured.
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