FY2024 Proposed Budget

Capital Improvement Plan 2023-2027 City of Iowa City, Iowa

2023 2027 thru

Department PARKS & RECREATION

Contact Juli Seydell-Johnson

Type One Phase

R4229

Project #

Useful Life 40 Years Category Recreation

Project Name City Park Pool Replacement

Priority Efficiency Improvement (3)

MATCH % NONE GRANTEE NONE

PLAN Recreation Master Plan

TIF DISTRICT None

Status Active

Total Project Cost: $10,200,000

Description Replace City Park Pool with new outdoor swimming pool and bathhouse.

Justification City Park Pool is an Iowa City landmark and tradition. However, due to its advancing age it will need to be replaced with a more modern facility.

Expenditures

Total

2023

2024

2025

2026

2027

500,000

500,000

PLANNING/DESIGN CONSTRUCTION

9,200,000

9,200,000

500,000

500,000

CONTINGENCY

500,000

9,700,000

10,200,000

Total

Funding Sources

2023

2024

2025

2026

2027

Total

500,000

9,000,000

9,500,000

FACILITY REPLACEMENT RESERVE GO BONDS-GENERAL PURPOSE

700,000

700,000

500,000

9,700,000

10,200,000

Total

Budget Impact/Other This project will increase annual operating expenditures for insurance and utilities, but will also require lower maintenance and upkeep. The net increase in operating expenditures is estimated between $15,000 and $25,000 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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