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Overview
The Village of Saranac Lake owns and maintains over $40,000,000 in capital assets—including buildings, parks, equipment, streets, stormwater, water, and sewer infrastructure—which regularly need upgrades or replacement and there are also new infrastructure needs and opportunities the Village must plan for. Therefore, the Board of Trustees passed a resolution on March 11, 2024 to establish a Capital Improvement Plan Task Force (CIP Task Force).
The CIP Task Force will integrate many existing plans that identify capital projects as well as new potential projects into a comprehensive framework that will balance investments in new and existing capital assets and provide transparency about how projects are prioritized and financed. The Task Force will be assisted by Jeff Smith of Municipal Solutions, Inc. and is expected to complete the first draft of the plan by early 2025.
Definition of Capital Improvement Plan:
Capital Improvement Plans (CIP) are encouraged by the New York State Office of the Comptroller and are defined as follows. A strategic framework designed to guide the systematic evaluation, prioritization, and allocation of resources for the enhancement, maintenance, and expansion of the Village of Saranac Lake's essential infrastructure assets. It encompasses a multi-year planning horizon and encompasses various aspects, including but not limited to large equipment and technology, personnel, buildings, parks, streets, sidewalks, stormwater management, and water and sewer systems. The CIP serves as a dynamic roadmap, facilitating proactive decision-making, promoting fiscal responsibility, and ensuring the effective stewardship of public funds while addressing both current needs and future challenges.
CIP Task Force Mission Statement:
To collaboratively develop and implement a comprehensive strategy for the prudent investment and enhancement of the Village of Saranac Lake's capital assets. Through diligent planning, prioritization, and transparent decision-making, we aim to safeguard our community's infrastructure, promote sustainable growth, and ensure the efficient allocation of resources, thereby fostering a vibrant and resilient future for all residents.
CIP Task Force Planning and Community Engagement Steps:
Additional information will be posted soon once the CIP Task Force has outlined its planning process. Please check back.