FY2022
Contact Scott Sovers Department PUBLIC WORKS
S3946
Project #
Project Name Court Street Reconstruction
Type One Phase
Useful Life 50 years
GRANTEE NONE
PLAN None
Category Street Operations
MATCH % NONE
TIF DISTRICT None
Priority Essential (2)
Total Project Cost: $7,100,000
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.
Expenditures
Total
2021
2022
2023
2024
2025
Prior
PLANNING/DESIGN
100,000
100,000
775,000
LAND/ROW ACQUISITION
25,000
25,000
Total
CONSTRUCTION
5,400,000
5,400,000
INSPECTION
150,000
150,000
ADMINISTRATION CONTINGENCY
150,000
150,000
500,000
500,000
125,000
6,200,000
6,325,000
Total
Prior
Funding Sources
Total
2021
2022
2023
2024
2025
GO BONDS-ESSENTIAL PURPOSE
900,000
6,200,000
6,200,000
Total
6,200,000
6,200,000
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.
561
Made with FlippingBook flipbook maker