8.0 Capital Improvements Plan
A Capital Improvements Plan (CIP) in its most basic sense includes a budget and a list of capital improvement projects. From those elements, the CIP is aligned with priorities of the governing agency, permitting, and construction logistics. This undoubtedly includes discussion relative to other master plans, comprehensive plans, current events, future plans, and historical performance. With priority projects identified, the budget and requisite financing discussions move forward. Internal and external funding sources are aligned with candidate projects, perhaps influencing the relative priorities. Finally, the plan is ratified and set forth in terms of planning, timing, and contracting.
This stormwater master plan prepares one element of a full Capital Improvements Plan – the list of projects and anticipated costs. All alternatives were evaluated during the master plan process, and cost estimates for each alternative were part of that evaluation. An engineer’s recommendation highlights the alternatives that have the highest likelihood of implementation and therefore highest priority within the comprehensive list of alternatives. The Town can take the recommended alternatives and associated costs into further deliberations with the Town staff, consultants, and advisors to determine the best course of action. Essentially, this storm water master plan completes the first phase of a stormwater CIP. But from this solid starting point, the Town will be able to further evaluate the priority of stormwater improvements relative to other municipal projects. And, then determine how the essential stormwater needs can be funded and completed to increase the resilience of the entire community to flood hazard damages.
Cost estimates for the alternatives described in Section 6 were completed using the Urban Drainage and Flood Control District cost estimating spreadsheets. These spreadsheets are routinely used to evaluate the life cycle costs of stormwater infrastructure projects. The cost estimates are comprehensive estimates including design, construction and maintenance.
The appendix provides all supporting information for cost estimates and rankings of selected alternatives. In summary, the recommended stormwater improvements have a total life-cycle cost of $750M for the Town of Lyons.