FY2023 Adopted Budget
PUBLIC WORKS
Department
S3952
Project #
Jason Havel
Contact
Project Name Dodge Street Reconstruct - Governor to Burlington
One Phase
Type
50 years
Useful Life
GRANTEE IDOT
PLAN None
Street Operations
Category
MATCH % 35%
TIF DISTRICT None
Essential (2)
Priority
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 Project Cost: $17,117,000 Status Active
Expenditures
Total
2022
2023
2024
2025
2026
Prior
LAND/ROW ACQUISITION
50,000
50,000
1,367,000
CONSTRUCTION
13,200,000
13,200,000
Total
INSPECTION
350,000
350,000
ADMINISTRATION
350,000
350,000
CONTINGENCY
1,800,000
1,800,000
15,750,000
15,750,000
Total
Prior
Funding Sources
Total
2022
2023
2024
2025
2026
1,117,000
FEDERAL GRANTS
3,750,000
3,750,000
GO BONDS-ESSENTIAL PURPOSE
2,400,000
2,400,000
Total
OTHER STATE GRANTS
9,850,000
9,850,000
16,000,000
16,000,000
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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