2022-2026 Capital Improvement Program.pdf

Contact Jason Havel Depar tment PUBLIC WORKS

S3952

Pr oject #

Pr oject Name Dodge Str eet Reconstr uct - Gover nor to Bur lington

Type One Phase

Useful Life 50 years

MATCH % 35% GRANTEE IDOT

TIF DISTRICT None PLAN None

Categor y Street Operations

Pr ior ity Essential (2)

Description Reconstruction of Dodge Street from Governor Street to Burlington Street. This will be a joint project with the DOT, and will include new street pavement, sidewalk, utility improvements and other associated work. 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. Justification This section of Dodge Street is in poor condition and requires significant ongoing maintenance. A functional design is currently underway for the project. Total Pr oject Cost: $17,117,000 Status Active

Expenditur es

Total

2022

2023

2024

2025

2026

Pr ior

50,000

50,000

LAND/ROW ACQUISITION

1,367,000

13,200,000

13,200,000

CONSTRUCTION

Total

350,000 350,000

350,000 350,000

INSPECTION

ADMINISTRATION CONTINGENCY

1,800,000 15,750,000

1,800,000 15,750,000

Total

Pr ior

Funding Sour ces FEDERAL GRANTS

Total

2022

2023

2024

2025

2026

1,117,000

3,750,000 2,400,000 9,850,000 16,000,000

3,750,000 2,400,000 9,850,000 16,000,000

GO BONDS-ESSENTIAL PURPOSE OTHER STATE GRANTS

Total

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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