Agenda

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AI- 2971

Special Meeting

Meeting Date:	01/10/2019
Department:	Public Works
Pillars:	Excellence in Asset Management
Milestones:	Leverage Airport assets to maximize business growth and expansion

AGENDA CAPTION:

Present and Discuss the Town of Addison's Comprehensive Asset Management Plan and Related Policies and Strategies.

BACKGROUND:

On May 23, 2017, the Council approved a contract with Kayuga Solution, Inc., for the development of a comprehensive Asset Management Plan (AMP) for the Town of Addison. The assessment of the Town's buildings, parks, landscape areas, water and wastewater facilities, pavements, curb ramps, bridges, sidewalks, traffic signals and signs, streetlights, fleet, airport, and storm water systems has been completed.

The steps in the process were:
•   The establishment of the asset database
•   The determination of their condition
•   The calculation of the cost of ownership of that asset
•   The prioritization of that asset according to its risk and consequence of failure
•   The assignment of a level of service
•   The documentation of the data in a comprehensive asset management plan

Each system is given a physical health score that is based on the condition of the asset.  A picture of the Town’s overall financial health that is based on the investment that is needed to maintain the assets to their current condition level, has also been developed.

Town staff and Kayuga Solution will brief Council on the purpose of an asset management plan, the process used in developing the plan, and the results of the assessment of each of the asset management systems. They will also provide a short demonstration of the Infrastructure Reinvestment Intelligence System (IRIS) that will be used by staff to track the maintenance, rehabilitation, and replacement needs of the assets over time.

Council will be asked to provide direction on various policy questions related to the management and funding of improvements to the Town’s assets. Some of the policy questions are:

What is the appropriate level of service for each of the asset management systems?
Should the physical condition of the assets be maintained so that the condition does not go lower than its current level?
How should maintaining that level of service be funded?
How should funding the Town’s physical asset needs be prioritized when compared to other funding needs?

A presentation will be given at the meeting and will be made available on the Town’s website.

RECOMMENDATION:

Information only, no action is required.