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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
David Hancock, Chief Capital Services Officer |
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PRESENTER(S): |
Marcus Bennett, Project Manager |
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TITLE:
title
Proposed 10 Year Capital Plan (2024-2033)
end
AGENDA ITEM TYPE:
Discussion
RECOMMENDATION:
Informational item for discussion
BACKGROUND:
The 10-Year Capital Plan (10YCP) is a collection of all UTA capital expenditures over the next 10 Years, with the primary purposes of preparation for the 5-Year Capital Plan (5YCP) and facilitating internal UTA coordination. Years 2024-2028 match the currently adopted 5YCP, and are considered fiscally constrained. Years 2029-2033 are considered fiscally unconstrained.
The November 2024 version of the 10YCP (2024-2033) is attached, and discussion is in preparation for upcoming board adoption.
DISCUSSION:
The intent for the 10YCP is that it captures snapshots of Plan Owner understanding of ideal transit investment levels. Plan Owners are the individuals within UTA with the responsibility and expertise to manage transit investment needs. Each new version of the 10YCP may change significantly based on Plan Owner determinations, and process evolutions to support 5YCP budget actions. Improvements in the November 2024 version of the 2024-2033 10YCP, since the August 2024 version, include:
• UDOT FrontRunner program addition
• discrete funding opportunities - content alignment with separate content on discrete funding opportunities on the Enhanced Bus, Bus Rapid Transit (BRT), Light Rail (LRT) and FrontRunner programs
• limited definition project explanatory content - Addition of explanations for projects that do not include a cost
• technical writing edits
Beyond the November 2024 version of the plan, focus will shift to the 2026-2035 version of the plan which will focus on the following improvements:
• timespan extension (2026-2035)
• matching upcoming 5YCP (2025-2029)
• inter-year prioritization (2026, 2030)
ALTERNATIVES:
N/A
FISCAL IMPACT:
None. The 10YCP does not authorize any expenditures. No approvals are occurring today.
ATTACHMENTS:
10 Year Capital Plan (2024-2033), November 2024 Version