2022-2026 Capital Improvement Program.pdf

Contact Jason Havel Depar tment PUBLIC WORKS

S3959

Pr oject #

Pr oject Name Taft Avenue Reconstr uct - Am Legion to Lwr West Br

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)

Description Reconstruction of Taft Avenue from American Legion Road to Lower West Branch. Design of this project would begin in 2022 with construction to begin in 2025. Justification The properties west of Taft Avenue between Lower West Branch Road and American Legion Road are now fully developed. With the construction of the new Hoover School and the upcoming American Legion Road and Scott Boulevard trunk sewer extension projects, the area will likely experience growth in the next five to ten years necessitating improvements to Taft Avenue. Total Pr oject Cost: $11,000,000 Status Active

Expenditur es

Total

2022

2023

2024

2025

2026

1,000,000

1,000,000 10,000,000 11,000,000

PLANNING/DESIGN CONSTRUCTION

10,000,000 10,000,000

1,000,000

Total

Funding Sour ces FEDERAL GRANTS

Total

2022

2023

2024

2025

2026

3,500,000 7,500,000

3,500,000 7,500,000

GO BONDS-ESSENTIAL PURPOSE

11,000,000

11,000,000

Total

Budget Impact/Other This project will add infrastructure into the City which will incrementally increase the City's operating costs. The estimated increase in operating expenditures 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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