7.12.120 Capital Improvement Program.
A Capital Improvement Program that plans for and anticipates necessary capital projects, including capital projects for education, shall be reviewed and adopted by the Assembly on an annual basis. A capital project is a substantial, nonrecurring expenditure for a physical improvement with a long, useful life, and does not include routine or preventative maintenance or custodial care programs. Development of the Capital Improvement Program shall be as follows:
A. Project Nominations. Written nominations for capital improvement projects may be submitted biennially on an approved form to the administration during a project nomination period. Any Borough resident may nominate a project. The administration shall hold at least one public workshop during the project nomination period for the purpose of providing information and technical assistance in completing the project nomination form.
B. Project Evaluation and Selection. All submitted applications will be reviewed for duplication and evaluated for feasibility. The School Board shall receive a copy of the submittals for education facilities for the purpose of providing recommendations to the Assembly. The Mayor shall provide all nomination submittals to the Assembly Finance Committee annually in or before November along with a proposed resolution setting forth a recommended project list for inclusion in the program. The Finance Committee will forward a recommended resolution to the Assembly for public hearing and adoption. Projects approved for inclusion in the program will then be scored and ranked by the administration.
C. Financial Analysis. The Capital Improvement Program will be developed by taking into consideration a project’s score and rank and will list projects in priority order after considering funding year, project and schedule details, and financing sources. The first four years of the Capital Improvement Program must be fiscally constrained to the estimated resources available, which may include General Fund, anticipated bonds, grants, donations, and other funding sources.
D. Review and Adoption. The Mayor will present a proposed resolution to the Assembly Finance Committee with a final Capital Improvement Program setting forth the approved projects, the year in which they will be funded, and the proposed funding source. The Finance Committee will forward a recommended resolution with the Capital Improvement Program to the Assembly for public hearing and adoption on or before March 1st. The first year of the program shall constitute the capital improvement budget for that fiscal year and shall be part of the annual budget submission pursuant to FNSBC 7.12.020(C). (Ord. 2019-35 § 2, 2019; Ord. 90-028 § 11, 1990; Ord. 89-101 § 10, 1990; Ord. 85-001 § 2, 1985. 2004 Code § 3.03.100.)