Item 5D. 2026 Asset Management Program
Superintendent's Recommendation:
MOTION TO APPROVE THE 2026 ASSET MANAGEMENT PROGRAM TOTALING $19,313,209.
Background:
The goal of the Asset Management Program (AMP) is to provide a sound, comprehensive, fiscally responsible methodology for managing capital development, maintenance, rehabilitation, information technology and other capital-intensive activities at a District-wide level.
The Board approved the 2026-2030 Capital Improvement Program (CIP) at the October Board Meeting. The 5-year CIP helps guide investments based on principles and priorities set by the Three Rivers Board of Commissioners. The CIP helps formulate but does not replace the annual Asset Management Program (AMP). Final funding and implementation decisions are made by the Board as part of the annual AMP process.
The 2026 AMP project list is based on the first year (2026) of the approved CIP and is identical with the following exceptions:
- The Planning program combined the parks and trails planning initiatives into one project to allow greater flexibility in use of Legacy funds.
- The Bryant Lake Regional Trail project projected cost and funding was reduced by $4,200 to reflect updated Legacy funding information from the Metropolitan Council.
- 2025 and 2026 Legacy funding assignments on individual projects were consolidated when possible to reduce grant paperwork. This has no impact on any of the projects.
The 2026 Asset Management Program is detailed in Attachment 1. The projects in the 2026 AMP are classified and organized in the same manner used for the 5-Year CIP. There are 94 projects in the AMP, totaling $19,313,209. There are 14 projects at specific sites with an anticipated cost of at least $250,000. Attachment 2 provides one-page information sheets for each project for use by Commissioners.
The 2026 AMP is proposed to be funded by a variety of sources including Federal transportation grants, State Lottery-in-Lieu Grants, State Parks and Trails Legacy Grants, Metropolitan Council Active Transportation Grants, Hennepin County Active Transportation Grants, Three Rivers Enterprise Funds and Three Rivers Bonding. $10,819,762 (56 percent) of funding is from outside sources and enterprise funds, and an estimated $8,493,447 (44 percent) of funding is from Three Rivers bonds.
Relationship to the System Plan:
The Request for Action supports the following goal(s) of the System Plan:
Goal 1: You Belong Here
Goal 2: Parks Matter
Goal 3: Lead by Example
Attachments:
Attachment 1 - 2026 AMP List of Projects and Funding Sources.pdf
