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Finance committee adds marina financing to 2025 work plan, requests revenue analysis
Summary
The Des Moines City Finance Committee asked staff to add a financing plan for remaining Marina Master Plan projects estimated at $81,270,500 to the 2025 work plan and to bring revenue and debt capacity analyses to council.
The Des Moines City Finance Committee on an item reviewing its draft 2025 work plan asked staff to develop a financing plan for the remaining Marina Master Plan projects and to bring revenue and debt-capacity analysis back to the committee and full council.
Council Member Harris told the committee, “I did a scrape of the 20 24 Marina Master Plan. And the, remaining projects from 2025 to 02/1940 are $81,270,500,” and asked the finance committee to “task for some kind of plan of finance.”
The request came during a presentation by Jeff (staff member) that framed the work plan as a baseline for 2025, a non-budget year. Jeff said the committee’s scope included monitoring the general fund and reviewing finance policies such as capital asset thresholds. Committee members agreed the marina financing question fits the committee’s scope and should be added to the work plan.
Committee discussion focused on how to pay for a multi-year capital program. One council member summarized the next steps: take the capital improvement plan (CIP), look at debt capacity and expected revenue, and “marry the two to get a sense of what is our timing,” rather than immediately changing rates or policies. Catherine (staff member) was identified as a staff contact who will guide work on the marina plan and related CIP items.
Council members also asked staff to bring a menu of potential revenue options to the committee. Council Member Harris requested a breakdown showing average revenue per housing or land-use category — single-family, apartment complexes, businesses, and warehouses — together with cost-of-service information, to help evaluate zoning and land-use decisions in the context of revenue impacts. Jeff and other staff noted similar analytic work is underway with the Economic Development Committee and said the city would take the request to both committees and share results with the full council.
Several council members said the financing analysis should be coordinated with the Marina capital-improvement planning already underway and with a broader needs analysis of the city’s capital projects. Members asked staff to include debt-capacity scenarios and timing so council could see whether additional revenue sources would be required to meet project schedules.
The committee did not adopt a formal ordinance or motion on the marina financing item; members directed staff to add the financing plan and revenue analyses to the 2025 work plan and to return with more detailed recommendations.
Ending: Staff said they will coordinate the Marina CIP work with the general CIP and present findings to the finance committee before bringing any policy recommendation to the council.
