2022-2026 Capital Improvement Program.pdf
Contact Juli Seydell-Johnson Depar tment PARKS & RECREATION
R4229
Pr oject #
Pr oject Name City Par k Pool Replacement
Type One Phase
Useful Life 40 Years Categor y Recreation
MATCH % NONE GRANTEE NONE
PLAN Recreation Master Plan
TIF DISTRICT None
Pr ior ity Efficiency Improvement (3)
Total Pr oject Cost: $6,000,000
Description Replace City Park Pool with new outdoor swimming pool and bathhouse.
Status Active
Justification City Park Pool is an Iowa City landmark and tradition. However, due to its advancing age it will need to be replaced with a more modern facility.
Expenditur es
Total
2022
2023
2024
2025
2026
500,000
500,000
PLANNING/DESIGN CONSTRUCTION
5,000,000
5,000,000
500,000
500,000
CONTINGENCY
500,000
5,500,000
6,000,000
Total
Funding Sour ces
Total
2022
2023
2024
2025
2026
500,000
4,800,000
5,300,000
FACILITY REPLACEMENT RESERVE GO BONDS-GENERAL PURPOSE
700,000
700,000
500,000
5,500,000
6,000,000
Total
Budget Impact/Other This project will increase annual operating expenditures for insurance and utilities, but will also require lower maintenance and upkeep. The net increase in operating expenditures is estimated between $15,000 and $25,000 per year. This serves as a declaration of official intent under Treasury Regulation 1.150-2 that it is reasonably expected that capital expenditures will be made in respect of the above-described project, such expenditures to be advanced from the Capital Projects fund, and the City reasonably expects to reimburse all or a portion of the expenditures with the proceeds of bonds, notes or other indebtedness to be issued or incurred by the City in the future.
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