2022-2026 Capital Improvement Program.pdf
Contact Scott Sovers Depar tment PUBLIC WORKS
S3946
Pr oject #
Pr oject Name Cour t Str eet Reconstr uction
Type One Phase
Useful Life 50 years
MATCH % NONE GRANTEE NONE
TIF DISTRICT None PLAN None
Categor y Street Operations
Pr ior ity Essential (2)
Total Pr oject Cost: $7,500,000
Description This project will reconstruct Court Street from Muscatine Avenue to 1st Avenue.
Status Active
Justification Court Street is an important collector street that connects the east side of Iowa City to the Downtown area. The project will replace aging street and sidewalk pavement that is in poor condition and upgrade public utilities as needed.
Expenditur es
Total
2022
2023
2024
2025
2026
Pr ior
150,000
150,000
PLANNING/DESIGN CONSTRUCTION
900,000
5,600,000
5,600,000
Total
200,000 150,000 500,000
200,000 150,000 500,000
INSPECTION
ADMINISTRATION CONTINGENCY
150,000
6,450,000
6,600,000
Total
Pr ior
Funding Sour ces
Total
2022
2023
2024
2025
2026
900,000
6,600,000
6,600,000
GO BONDS-ESSENTIAL PURPOSE
Total
6,600,000
6,600,000
Total
Budget Impact/Other Replacing aged infrastructure will lower the City's operating expenditures through decreased maintenance costs. The estimated decrease in operating expenses is less than $10,000 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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