2025 Capital Budget

PROPOSED FUNDING PLAN 2025 Capital Budget GENERAL FUNDING GOALS • Increase our current annual debt levy of $2.5 million to $3.456 million • Follows advice from the Village’s Financial Advisors (Ehlers) • Continue to support the SAFER grant and fund additional street projects • Refinance TID 8 debt coming due March 2025 • Maintaining this new debt levy is a key component of our long-term financing goals RECOMMENDED FUNDING SUMMARY (for the proposed 2025 Capital Budget) New GO Debt Other T otal Public Works/Transportation (10-year tax levy debt) $2,931,000 $2,130,000 $5,061,000 SAFER levy Water Utility (20-year debt paid from user charges) 2,425,000 150,000 2,575,000 Impact fees Sewer Utility (paid from user charges) - 2,963,000 2,963,000 Cash on hand Storm Utility (20-year debt paid from user charges) 2,705,000 - 2,705,000 TID #8 2,350,000 - 2,350,000 Funded by future TID increment, TID projected to close in 2036 Parks 780,000 - 780,000 Funded by future impact fees Other 605,000 - 605,000 $335k Muni Facilities; $270k Tourism T otal Capital Budget $11,796,000 $5,243,000 $17,039,000 2025 DEBT BORROWING • Proposed Capital Budget • $2,965,000 Capital Projects • $2,735,000 Storm Utility • $2,455,000 Water Utility • $2,380,000 TID 8 funding • $790,000 Park Impact Fees • $610,000 T ourism funding • $450,000 Muni Facilities funding • Additional Debt Borrowing • $4,895,000 TID 8 Refunding Notes • $2,840,000 TID 8 Taxable Refunding Notes • $1,905,000 Municipal Facilities Fund 605 (borrow for capital outlay > $250k) T otal anticipated borrowing = $22,025,000 Table 3 Capital Improvements Financing Plan Village of Menomonee Falls, WI Presale Estimate Sale: 2/6/2025 Closing: 2/26/2025 2025 2025 G.O. Notes Levy Portion Municipal  Facilities  Portion Stormwater  Portion Water  Portion Park Impact  Fees Portion Tourism  Portion TID 8  Portion TID 8 ‐  Refunding  Portion Taxable G.O.  Refunding  Notes TID 8  Refunding  Portion   CIP Projects1 Levy 2,931,000        2,931,000 ‐                    Municipal Facilities 2,480,000        2,480,000 ‐                    Stormwater 2,705,000        2,705,000 ‐                    Water 2,425,000        2,425,000 ‐                    Park Impact Fees 780,000           780,000 ‐                    Tourism 750,000           750,000 ‐                    TID 8 7,149,469        2,350,000 4,799,469 2,743,875         2,743,875 Subtotal Project Costs 19,220,469 2,931,000 2,480,000 2,705,000 2,425,000 780,000 750,000 2,350,000 4, 799,469 2,743,875 2,743,875 CIP Projects1 19,220,469 2,931,000 2,480,000 2,705,000 2,425,000 780,000 750,000 2,350,000 4, 799,469 2,743,875 2,743,875 Estimated Issuance Expenses Municipal Advisor (Ehlers) 64,500 9,815 8,309 9,054 8,127 2,615 2,516 7,862 16,204 24,900 24,900 Bond Counsel 30,000 4,565 3,865 4,211 3,780 1,216 1,170 3,657 7,537 22,000 22,000 Disclosure Counsel 19,500 2,967 2,512 2,737 2,457 791 761 2,377 4,899 14,300 14,300 Rating Fee 23,560 3,585 3,035 3,307 2,968 955 919 2,872 5,919 3,440 3,440 Maximum Underwriter's Discount 12.50 243,563 37,063 31,375 34,188 30,688 9,875 9,500 29,688 61,188 12.50 35,563 35,563 Paying Agent  850 129 109 119 107 34 33 104 214 850 850 Subtotal Issuance Expenses 381,973 58,124 49,205 53,615 48,126 15,487 14,899 46,558 95,959 101,052 101,052 TOTAL TO BE FINANCED 19,602,441 2,989,124 2,529,205 2,758,615 2,473,126 795,487 764,899 2,396, 558 4,895,427 2,844,927 2,844,927 Estimated Interest Earnings2 4.93% (118,493) (24,083) (20,377) (22,226) (19,925) (6,409) (6,163) (19,309) 0 0 00 Assumed spend down (months) 2 0 Rounding 1,051                 (41) 1,173 (1,389) 1,799 922 1,264 (2,249) (427) 73                     73 NET BOND SIZE 19,485,000       2,965,000          2,510,000          2,735,000   2,455,000   790,000       760,000       2,375,000   4,895,000   2,845,000        2,845,000   Notes: 1) Project Total Estimates per information provided by the Village on December 4, 2024 and December 11, 2024. 2) Based on the October 2024 WI LGIP anualized earnings rate. 2025 G.O. Notes Financing Plan 12.__.24 Prepared 12/13/2024 Village of Menomonee FallsCapital Improvement Plan 2024 - 2028 2025 PROJECT ENGINEER PROJECT NUMBER PROJECT CAPITAL PROJECTS STORM WATER UTILITY WATER UTILITY SANITARY SEWER UTILITY TID's PARK IMPACT FEE WATER IMPACT FEE SANITARY SEWER IMPACT FEES MUNICIPAL FACILITIES & EQUIPMENT FUND OTHER TOTAL GENERAL OBLIGATION CAPITAL FUNDSTORM UTILITY WATER UTILITY SANITARY SEWER UTILITY TID's PARK IMPACT FEE WATER IMPACT FEE SANITARY SEWER IMPACT FEES MUNICIPAL FACILITIES & EQUIPMENT FUND OTHER CASH TOTAL TOTAL COST COMMENTS PUBLIC WORKS PROJECTS 2025 Sidewalk Replacement Program150,000 150,000 150,000 2025 Curb & Gutter Program 100,000 100,000 100,000 2025 Storm Sewer Program 100,000 100,000 100,000 2025 Asphalt Paving Program 1,076,000 1,076,000 1,130,000 1,130,000 2,206,000$1,130,000 DPW Operating Budget TRANSPORTATION PROJECTS 41238 Menomonee Avenue Reconstruction - Appleton Ave to Townhall Road - CONSTRUCTION 1,450,000 1,435,000 2,885,000 1,000,000 1,000,000 3,885,000 $1,000,000 Safer Levy $5,361,996 Federal Funds/WDOT 41248 Overview Drive Bridge Replacement - CONSTRUCTION 250,000 250,000 250,000$1,605,192 Federal Funds/WDOT 41249 Campbell Drive Bridge Replacement - RIGHT-OF-WAY 270,000 270,000 270,000WDOT Project 41240 Grand Avenue - Bugline Trail to Woodlawn Dr - Wm Relay, Storm Sewer & Street Recon - CONSTRUCTION 2,350,000 2,350,000 2,350,000TID #8 WATER PROJECTS Well #12 & Well House Building - Aero Park - DESIGN 25,000 25,000 75,000 75,000 100,00075% Future Growth-25% Deficiency Well #13 & Well House Building - Aero Park - DESIGN 25,000 25,000 75,000 75,000 100,00075% Future Growth-25% Deficiency Garfield Water Booster Station Upgrades - DESIGN & CONSTRUCTION 100,000 100,000 100,000 72085 Theodore Dr - Jacobson Dr to Ann Ave - Water Main & San Lateral Relay - CONSTRUCTION 520,000 520,000 622,000 622,000 1,142,000 MacArthur Dr - Village Property to Patricia Pl - Water main Relay - DESIGN & CONSTRUCTION 1,300,000 1,300,000 581,000 581,000 1,881,000 Elmwood Drive - Shady Ln to Hoyt Dr. - Water main Relay - DESIGN & CONSTRUCTION 425,000 425,000 425,000 Lannon Road Fiber Extension - Silver Spring to Lisbon - DESIGN & CONSTRUCTION 30,000 30,000 60,000 100,000 100,000 160,000 PARKS PROJECTS Village Park - Specialty Park - Optimist Way & Parking Lot - DESIGN & CONSTRUCTION 780,000 780,000 $780,000 Pedestrian Bridge Replacement - Rotary Park & Lime Kiln Park 285,000 270,000 555,000 $555,000 Rotary Park Bridge - Muni Fac Fund & Lime Kiln Bridge - Tourism Fund SANITARY PROJECTS Sussex Wastewater Treatment Plant - Maintenance & Rehabilitation 755,000 755,000 $755,000 Sanitary Sewer Interceptor Repair & Maintenance 905,000 905,000 $905,000 STORM WATER PROJECTS 74023 Menomonee Ave Culvert Replacement - 200 feet East of Main Street by Bugline Trial - CONSTRUCTION 550,000 550,000 550,000 Shady Ln MS-4 Pond & Storm Sewer - Grand Ave to Erika Rd - DESIGN 100,000 100,000 100,000 MUNICIPAL FACILITIES Fire Station No. 2 Demolition 125,000 50,000 175,000 $175,000 TOTAL 2,931,000 2,705,000 2,425,000 0 2,350,000 780,000 0 0 335,000 270,000 11,796,000 0 0 0 2,963,000 0 0 150,000 0 0 2,130,000 5,243,000 17,039,000 GENERAL OBLIGATION CASH ON HAND VILLAGE OF MENOMONEE FALLS PROPOSED FIVE YEAR CAPITAL PLAN 2025-2029 1/6/2025 Proposed Proposed Proposed Proposed Proposed 5 Year Description 2025 2026 2027 2028 2029 Total VILLAGE PROJECTS Sidewalk Replacement Program $150,000 $140,000 $150,000 $150,000 $150,000 $740,000 Curb & Gutter Program $100,000 $100,000 $100,000 $100,000 $100,000 $500,000 Storm Sewer Program $100,000 $100,000 $100,000 $100,000 $100,000 $500,000 Asphalt Paving Program $2,206,000 $1,745,000 $1,580,000 $1,580,000 $1,580,000 $8,691,000 124th St & Leon Road/Bradley Road - Signal Replacement & Intersection Improvements $50,000 $250,000 $300,000 Aero Park - Community Park $865,000 $80,000 $945,000 Ann Avenue - Jacobson to Hiawatha - WM Relay, San Lats, Storm Sw & Street Recon $761,000 $895,000 $1,656,000 Arthur Avenue MS-4 Pond - Arthur Ave & Men River - CONSTRUCTION $580,000 $580,000 Campbell Drive Bridge Replacement $270,000 $425,000 $695,000 Dardis Dr - Jacobson Dr to Ann Ave - Storm Sewer & Street Reconst $871,000 $871,000 Duke Street - Melanie to Queensway - Wm Relay, San Lateral, Stm Swr & Street Reconst $1,851,000 $1,851,000 Elmwood Drive - Shady Ln to Hoyt Dr. - Water main Relay $425,000 $425,000 Fire Station No. 2 Demolition $175,000 $175,000 Garfield Water Booster Station Upgrades $100,000 $100,000 Grand Avenue - Woodlawn to Shady Ln - Water Main & San Lateral Relay $503,000 $503,000 Grand Avenue - Bugline Trail to Woodlawn Dr - Wm Relay, Storm Sewer & Street Recon$2,350,000 $2,350,000 Graysland Drive - Storm Sewer and Drainge $355,000 $355,000 Hiawatha Dr - Mary Ct to Men Ave & Mary Ct - Wm Relay, San Lateral, Stm Swr & Street Reconst $2,178,000 $2,178,000 Hillcrest Dr - Shady Ln to Sheridan Dr - Wm Relay, San Lateral, Stm Swr & Street Reconst $504,000 $530,000 $1,034,000 Hoyt Drive - Roosevelt Dr to Main St - WM Relay $250,000 $250,000 Jacobon Dr - Ann Ave to Men Ave - Wm Relay, San Lateral, Stm Swr & Street Reconst $913,000 $565,000 $1,478,000 Joss Place - Shady Ln to Sheridan Dr - Wm Relay, San Lateral, Stm Swr & Street Reconst $420,000 $845,000 $1,265,000 Kings Highway - Pilgrim Rd to Rozanne Dr - WM Relay $1,442,000 $1,442,000 Lannon Road Fiber Extension - Silver Spring to Lisbon $160,000 $160,000 Lepper Dam Repair Project $435,000 $435,000 MacArthur Dr - MS-4 Pond & Storm Sewer - Men Ave to Rotary Park $62,000 $1,660,000 $1,722,000 MacArthur Dr - Village Property to Patricia Pl - Water main Relay $1,881,000 $1,881,000 Marcy Road - Ridgeline to Greenway - Water Main Extention $460,000 $460,000 Marshall Dr - Rozanne to Men River Pkwy - Wm Relay, San Lat, Storm Sewer & Street Reconst $1,055,000 $1,055,000 Menomonee Ave Culvert Replacement - 200 feet East of Main Street by Bugline Trial $550,000 $550,000 Menomonee Avenue Reconstruction - Appleton Ave to Townhall Road $3,885,000 $3,885,000 Norman Drive - MS-4 Pond, Storm Sewer, WM Relay & Street - Men Ave to Manhattan Dr $132,000 $2,715,000 $2,847,000 Overview Drive Bridge Replacement $250,000 $250,000 Pedestrian Bridge Replacement - Rotary Park & Lime Kiln Park $555,000 $555,000 Richfield Subdivision Pond Dredging $275,000 $275,000 Sanitary Sewer Interceptor Repair & Maintenance $905,000 $750,000 $700,000 $700,000 $900,000 $3,955,000 Shady Lane - Apple Tree Ct to Devonwood Rd - Storm Sewer & Street Recon $100,000 $100,000 Shady Lane - Lee Place to Menomonee Ave - WM Relay $978,000 $978,000 Shady Ln MS-4 Pond & Storm Sewer - Grand Ave to Erika Rd $100,000 $1,316,000 $1,416,000 Sheridan Dr - Hillcrest to Main St - Wm Relay, San Lateral, Stm Swr & Street Reconst $1,547,000 $1,547,000 Sussex Wastewater Treatment Plant - Maintenance & Rehabilitation $755,000 $755,000 Theodore Dr - Ann Ave to Men Ave - Wm Relay, San Lateral, Stm Swr & Street Reconst $636,000 $511,000 $1,147,000 Theodore Dr - Jacobson Dr to Ann Ave - Wm Relay, San Lateral, Stm Swr & Street Reconst$1,142,000 $686,000 $1,828,000 Village Park - Specialty Park - Optimist Way & Parking Lot $780,000 $780,000 Well #11 - Deep Well - Silver Spring $1,100,000 $1,100,000 Well #12 & Well House Building - Aero Park $100,000 $950,000 $1,050,000 Well #13 & Well House Building - Aero Park $100,000 $950,000 $1,050,000 Well #14 & Reservoir Building - Aero Park $3,900,000 $3,900,000 GRAND TOTAL PROJECT COSTS $17,039,000 $13,587,000 $10,129,000 $12,095,000 $9,715,000 $62,565,000