2017 Capital Budget

PROPOSED FUNDING PLAN For the 2017 Capital Budget GENERAL FUNDING GOALS  Maintain our current annual debt levy of about $2.4 million  Maintaining a steady debt levy is a key component of our long-term financing goals.  The $2 million levy supported borrowing in our 2017 capital budget fits into our long-term goal.  Maintain a positive cash position in the Municipal Facilities Fund while moving forward with necessary projects  We used $4 million in cash from the Municipal Facilities Fund in 2013 to provide a necessary one-year gap in debt that was needed to meet our goal.  Additional cash is projected to be needed from the Municipal Facilities Fund in 2022, 2023, and 2024; after the debt for our municipal building is paid-off. NEW FOR 2017  We are planning on doing our first internal borrowings  The Village gains the benefit of interest income instead of paying interest to external bond holders  Savings are gained from not paying bond issuance costs  Internal loans offer added flexibility in that they can be paid-off at any time  Loans will be given out of the Municipal Facilities Fund  The 2017 loans are:  TID #9 - $425,000  TID #12 - $190,000 RECOMMENDED FUNDING SUMMARY (for the Proposed 2017 Capital Budget) New GO Debt Internal Borrowing Cash on Hand To t a l New Consolidated DPW Facility(10-year tipping fee debt) $9,000,000 $ - 0 - $4,000,000 $13,000,000 General Projects + Storm Utility (10-year tax levy debt) 2,000,000 - 0 - 4,175,000 6,175,000 Water Utility (20-year service revenue debt) 1,285,000 - 0 - 125,000 1,410,000 Sewer Utility (paid from service revenue only) - 0 - - 0 - 140,000 140,000 TID (debt paid with tax increment only) - 0 - 615,000 1,360,000 1,975,000 T otal proposed 2017capital budget $12,285,000 $615,000 $9,800,000 $22,700,000 Includes $3.4 million from the sale of the Distribution Center A total of $6.8 million was made available from the sale. Remaining proceeds to be spent on infrastructure projects over the next couple years. Village of Menomonee Falls 2017 Capital Improvement Funding Plan NEW GO DEBT INT. LOAN CASH ON HAND Capital Municipal Water Current GO Municipal Capital Dist Center Water Sewer Storm CASH GRAND Project # Description Projects Facilities Utility TOTAL TID's Facilities Projects Sale Proc TID's Impact Fees Utility Utility TOTAL TOTAL Comments Municipal Facilities 15025 New Centralized DPW Facility 9,000,000 9,000,000 4,000,000 4,000,000 13,000,000 Public Works Projects 41200 2017 Sidewalk Program 80,000 80,000 80,000 41201 2017 Curb & Gutter Program 300,000 300,000 300,000 41202 2017 Roads Program 700,000 700,000 700,000 Slag Seal and Crack Filling in Operating Budget Transportation Projects 41194 Appleton/Pilgrim/Menomonee Intersections Construction 750,000 750,000 750,000 41196 Arthur Ave (Menomonee Ave to Appleton Ave) Construction 1,145,000 1,145,000 1,145,000 41197 Ann Ave (Village Park to Sheridan Dr) Design & Construction 290,000 495,000 785,000 785,000 Storm Utility Cash to be Transferred from Project 74007 41198 Garfield Dr (Mill St to Sheridan Dr) Design & Construction 1,225,000 1,225,000 1,225,000 41199 Cherokee Dr (Chippewa to Cheyenne Dr) Construction 140,000 290,000 430,000 365,000 365,000 795,000 41203 Mill St Alley (Watermain & Street Improvements) Design & Construction 395,000 395,000 395,000 41204 Main St Parking Improvements Design & Construction 260,000 260,000 260,000 Use State Proceeds Received in Main St. Jurisdictional Transfer. 62103 Appleton Ave / Roosevelt Dr Signal Replacement Design & Construction 425,000 425,000 TID #9 - Loan from our Municipal Facilities Fund 63202 Lilly Rd (Silver Spring to Mill Rd) Design 190,000 190,000 TID #12 - Loan from our Municipal Facilities Fund 62008 Roosevelt Dr (Water St to Charles Dr) Construction 1,360,000 1,360,000 1,360,000 TID #8 Parks Projects 64064 Kiwanis Park Play Structure Replacement Additional Funds 30,000 30,000 30,000 Water Utility Projects 72053 Appleton Ave Water Tower Repainting Construction 420,000 420,000 420,000 72057 Russell Ct Watermain Design & Construction 185,000 185,000 185,000 72058 Townline Rd Watermain (Redbud to Taylors Ln) Design & Construction 225,000 225,000 125,000 125,000 350,000 Around $200,000 of this will be special assessed. 72059 Charles Dr Watermain (Roosevelt to Cleveland Ave) Design & Construction 165,000 165,000 165,000 Sewer Utility Projects 73041 System-Wide Sewer PLC Upgrade 140,000 140,000 140,000 2,000,000 9,000,000 1,285,000 12,285,000 615,000 4,000,000 260,000 3,420,000 1,360,000 125,000 140,000 495,000 9,800,000 22,700,000 2/15/2017 11:35 AM Page 1 of 1