Archive for Thursday, January 18, 2007

City CIP process moving forward

January 18, 2007

De Soto city department heads had no problem developing a list of projects to be considered for the city's next five-year capital improvement project list.

City Administrator Pat Guilfoyle now has a list of more than 200 projects totaling more than $50 million compiled by different city department heads. Among the list are such big-ticket items as the $4.5 million improvement of 83rd Street between Kill Creek and Waverly roads and a $3.5 million new fire station.

The goal now is to trim the list down to a consensus list of the top-20 general fund projects and top-five sewer and water department projects, Guilfoyle said. A step was already taken in that direction when Guilfoyle asked department heads to remove all projects costing less than $5,000 from the list.

The revised list will be presented Feb. 8 at a joint meeting of the De Soto City Council, Planning Commission, Parks and Recreation Commission and Economic Development Council, Guilfoyle said.

It is hoped a consensus list will be developed from that planned four-hour meeting, Guilfoyle said.

As the work to compile a list proceeds, Guilfoyle is working with the city's financial advisors to refinance the city's current debt. He would have a refinance recommendation for the council in the spring to coincide with adoption of a new CIP, the city administrator said.

The refinance plan would seek to lower current debt obligation by lowering interest rates (and thus the property tax burden) by backloading payments, Guilfoyle said. Municipal financial planners agree infrastructure improvements should have longer terms so that those enjoying their use in the future can help pay for them, he said.

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