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Page 7 of 9 <br /> <br /> <br />Looking ahead over a 20-year horizon, the annual need is projected to be about $70 million <br />per year, reflecting the timing of major assets reaching the end of their useful life in the early <br />2040s. As with any long-range forecast, confidence decreases the further the projections <br />extend into the future. A 10-year outlook is generally considered the most reliable for financial <br />planning and modeling. See Attachment 3 for Asset Replacement Projection tables by <br />category. <br /> <br />Table B. 20-Year Asset Replacement Needs <br /> <br /> <br />The City currently programs funding to replace assets through both the Repair and <br />Replacement (R&R) program and the CIP. The R&R program maintains, restores, or replaces <br />existing assets to sustain their performance and extend their useful life. The CIP program <br />involves new construction, capacity expansion, or major replacement of existing infrastructure. Based on <br />Page 339 of 373