TITLE
Recommendation to receive a report on the Strategy for the Tidelands Capital Budget and 5-Year Capital Plan and approve the Tidelands Capital prioritization criteria. (Citywide)
DISCUSSION
On October 8, 2014, staff provided a memo to the City Council stating that the changing price of oil required a revised strategy for the Tidelands Capital Budget and the 5-year Capital Plan. The Tidelands Capital Budget is funded entirely from oil revenues, and the low price of oil has greatly reduced the oil revenue that the City can rely on receiving. The attached memo dated December 31, 2014 provides the proposed strategy for Tidelands capital expenditures and preliminary information of the impact of the oil price on the Tidelands Operating Budget and the Uplands Oil Fund budget.
Staff will be recommending a prioritized list of outstanding Tidelands capital projects and assigning currently available funds to those projects for the Council's consideration. Prioritization will be based on criteria agreed upon by the City Council. Attachment B to the December 31, 2014 memo provides a suggested list of criteria and the prioritization process. Staff proposes using the criteria to rank projects in order of priority, subject to review and modification by the City Council. Following are the suggested prioritization criteria, in order of importance:
1. Public Health and Safety - The extent to which the project impacts maintaining and improving public health and safety;
2. Number of California Residents Impacted - The number of users of the project/facility and/or the California residents impacted;
3. Urgency - The extent to which there are adverse ramifications if the project is not done in the near term;
4. Poor Condition / High Need - The extent to which an existing facility is in poor repair or condition, or alternatively for a non-existing facility, the degree of unmet need;
5. Quality of Life - The extent to which the project adds to the quality of life for Calif...
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