Posted: September 22, 2017
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF092717-04

Agenda Item Title:

Approve Resolution 2017-086 – A Resolution Approving the City of Rapid City Capital Improvement Plan Policy

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
09/27/2017
City Council Hearing Date:
10/02/2017
Staff Contact:
Pauline Sumption
Agenda Item Summary:
As part of the reallocation of sales tax, Ordinance No. 6195, where the CIP Account would receive 29% of the sales tax revenue, a CIP policy must be adopted to outline the procedure for approval of capital improvement projects. This policy establishes the following: purpose of the account; definition and eligibility requirements for CIP funding; process for requesting project funding; funding allocations, including prioritization; and CIP Account reserve fund.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve

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