HomeMy WebLinkAbout16-008CITY OF LAKEVILLE
RESOLUTION NO. 16-08
RESOLUTION ADOPTING THE 5 -YEAR CAPITAL IMPROVEMENT PLAN (2016-2020)
WHEREAS, The purpose of the Capital Improvement Plan (CIP) is to protect the
infrastructure and capital assets of the City of Lakeville by establishing a replacement plan for
existing infrastructure and capital assets and by identifying those improvements necessary to
accommodate the growth of the community, and
WHEREAS, The CIP is a flexible planning document that attempts to balance the
financial resources of the City with its needs; and
WHEREAS, The CIP covers a five-year period of 2016 - 2020; sets forth the estimated
schedule, timing, and details of specific capital improvements by year, together with the
estimated costs, the need for the improvements, and sources of revenue to pay for the
improvements; and
WHEREAS, During the course of the preparation and review of the Capital
Improvement Plan, the Council has considered, for each capital improvement: the condition of
the City's existing infrastructure, including the projected need for repair or replacement; the
likely demand for the improvements; the estimated cost of the improvements; the available
public resources; the relative benefits and costs of alternative uses of the funds; operating costs of
the proposed improvements; and
WHEREAS, On January 4, 2016, the Lakeville City Council conducted a Public Hearing
on the 2016-2020 CIP and offered opportunity for public testimony on the capital spending
priorities of the City Council.
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Lakeville
Minnesota as follows:
1. The recitals set forth above are incorporated herein.
2. The 2016-2020 Capital Improvement Plan is hereby adopted.
ADOPTED by the Lakeville City Council this 4th day of January, 2016
CITY OF LAKEVILLE
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Matt Li tle, Mayor
ATTEST:
Charlene Friedges, City Cy
VOTE
Little
Anderson
Davis
LaBeau
Swecker
Aye
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CK
C>�
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V
Nay
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Abstain
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Absent
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V
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