Item C: PROS Project and Priority Plan

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· Project Prioritization: Project priority rankings have been adjusted to correspond to the anticipated funding stream. The most significant result of this re-prioritizing is that approximately $100 million of identified projects fall outside the 20-year planning window. These projects are identified on the list as Priority 5 projects. Additionally, the council's recent direction to focus on acquisition projects for the potential 2006 bond funding has impacted project priorities. Many acquisition projects which had originally been identified for later years are now listed as Priority 1 and scheduled within the first five years. Likewise, many development-related projects have been pushed out into subsequent timeframes. The original project priorities as seen by the Mayor's Advisory Committee are included as Attachment B. Two new columns have been added to the list to indicate if the priority ranking of the project has been changed. · Project List Updates: The project list was developed in 2004 and has remained substantially unchanged since that time. Several projects that appeared on the original list have now been completed or are close to being complete. These projects have now been removed. Likewise, a few new projects have been added to the list. These updates to the project list are also identified in Attachment B. · SDC Growth Allocation Percentages: Oregon Revised Statues requires that SDC improvement fees be based on an adopted project list. This project list must include the capital improvements that the local government intends to fund, in whole or in part, with revenues from an improvement fee and the estimated cost, timing and percentage of costs eligible to be funded with revenues from the improvement fee. The Project and Priority Plan is intended to satisfy these requirements. The percentage of costs eligible to be funded with SDCs is identified in the project list as the "Preliminary Growth Share." This percentage is based in part on a level of service analysis. The proposed level of service has changed based on the above mentioned revisions to the project list. As such, the preliminary growth share percentages are being recalculated to reflect the revised project list and level of service. The Preliminary Growth Share figures shown in the project list in Attachment A are based on the previous project list. It is anticipated that revised percentages will be ready by tonight's City Council meeting. The Project and Priority Plan is intended to be a living document, and as such, individual projects may be delayed if funding cannot be identified within the shown timeline. Likewise, individual projects may be moved forward if funding is identified earlier than shown in the timeline. Cost estimates also need to be considered within the context of inflation. The cost estimates in the current project list were developed in 2004 and have not been subsequently adjusted for inflation. RELATED CITY POLICIES The PROS Comprehensive Plan was adopted by the City Council on February 13, 2006. COUNCIL OPTIONS 1. Direct the City Manager to hold a public hearing on the PROS Project and Priority Plan on March 13, 2006. 2. Direct staff to make modifications to the PROS Project and Priority Plan and return to the council. 3. Take no action. LICMOl2006 Council AgendasIM060227IS060227C.doc