Funding the Future of SLO
Funding the Future of SLO SLO Chamber of Commerce
Major City Goal • Fiscal Sustainability & Responsibility • Continue to implement the City’s Fiscal Responsibility Philosophy with a focus on: • Economic Development & Responsiveness (Diablo Canyon) • Unfunded Liabilities (Pensions) • Infrastructure Financing (Funding the Future of SLO)
Plans and Policies
Current Funding Maintenance of Existing Total Cost for 10 Years = $70 M $10,000,000
$6-7 M Avg. Forecasted
$9,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $2017-18
2018-19
2019-20
2020-21
2021-22
2022-23
Maintenance of Existing
2023-24
2024-25
2025-26
2026-27
Funding the Future of SLO • Infrastructure Projects • Enhance existing assets or build new facilities, resulting in better service for community members
Community Improvements
Transportation
Public Facilities
Project Highlights Transportation • • • • •
Prado Road Extension Prado Road Interchange Tank Farm Road Widening Bob Jones Trail Completion Railroad Safety Trail Completion
Project Highlights Community Improvements • • • •
Monterey Street Revitalization Mission Plaza Rehabilitation Laguna Lake Dredging Downtown Improvements
Project Highlights Public Facilities • • • • •
Police Station Replacement Fire Station Replacements Emergency Operations Center Accessibility Enhancements Ludwick Center Renovation
How much will it cost? Enhancement of Existing & New Facilities
Maintenance of Existing (10 years)
• Approximately $400 million
• $70 million
• Unfunded by future general fund revenues
• Paid by Measure G & other funds
How We Do This • Requires voter approval for new source of revenue • Most feasible funding mechanisms • Sales tax • Community Facilities District • General Obligation Bond
Public Engagement • Discuss need and funding options • Receive feedback on funding options • Stakeholder presentations (community groups and Advisory Bodies) • Community Info Session • Open City Hall • Statistical survey
Timeline
Jan. 16, 2018 City Council presentation
February Review and refine potential projects
March Community and stakeholder outreach
Apr. 17, 2018 Present feedback and receive Council direction
Funding the Future of SLO SLO Chamber of Commerce
Questions and Feeback
Major City Goal • Fiscal Sustainability & Responsibility • Continue to implement the City’s Fiscal Responsibility Philosophy with a focus on: • Economic Development & Responsiveness (Diablo Canyon) • Unfunded Liabilities (Pensions) • Infrastructure Financing (Funding the Future of SLO)
Plans and Policies
Current Funding Maintenance of Existing Total Cost for 10 Years = $70 M $10,000,000
$6-7 M Avg. Forecasted
$9,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $2017-18
2018-19
2019-20
2020-21
2021-22
2022-23
Maintenance of Existing
2023-24
2024-25
2025-26
2026-27
Funding the Future of SLO • Infrastructure Projects • Enhance existing assets or build new facilities, resulting in better service for community members
Community Improvements
Transportation
Public Facilities
Project Highlights Transportation • • • • •
Prado Road Extension Prado Road Interchange Tank Farm Road Widening Bob Jones Trail Completion Railroad Safety Trail Completion
Project Highlights Community Improvements • • • •
Monterey Street Revitalization Mission Plaza Rehabilitation Laguna Lake Dredging Downtown Improvements
Project Highlights Public Facilities • • • • •
Police Station Replacement Fire Station Replacements Emergency Operations Center Accessibility Enhancements Ludwick Center Renovation
How much will it cost? Enhancement of Existing & New Facilities
Maintenance of Existing (10 years)
• Approximately $400 million
• $70 million
• Unfunded by future general fund revenues
• Paid by Measure G & other funds
How We Do This • Requires voter approval for new source of revenue • Most feasible funding mechanisms • Sales tax • Community Facilities District • General Obligation Bond
Public Engagement • Discuss need and funding options • Receive feedback on funding options • Stakeholder presentations (community groups and Advisory Bodies) • Community Info Session • Open City Hall • Statistical survey
Timeline
Jan. 16, 2018 City Council presentation
February Review and refine potential projects
March Community and stakeholder outreach
Apr. 17, 2018 Present feedback and receive Council direction
Funding the Future of SLO SLO Chamber of Commerce
Questions and Feeback
