FY2024 Proposed Budget

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

2023 2027 thru

Department PARKS & RECREATION

Contact Kent Ralston

Type One Phase

R4404

Project #

Useful Life 40 Years

Project Name Iowa River Corridor Trail - Gateway Segment

Category Parks Maintenance

Priority Efficiency Improvement (3)

MATCH % GRANTEE

PLAN Transportation Plan

TIF DISTRICT

Status Active

Description Construction of a 10' trail extension east of the Iowa River between Park Road and the University of Iowa pedestrian bridge. Total Project Cost: $700,000

Justification This project is an extension of the Iowa River Corridor Trail and is an integral piece of the trail network. The project does not appear in the adopted 2017 Iowa City Bicycle Master Plan due to past property acquisition issues. The project is shown in the University's Master Plan for the riverfront and meets the Council's Strategic Plan goal of 'Enhancing Community Mobility' by substantially improving the trail network. The connection to Dubuque Street was constructed as part of the Gateway Project.

Expenditures

Total

2023

2024

2025

2026

2027

100,000

100,000 24,574 433,031 43,050 99,345 700,000

PLANNING/DESIGN

24,574 433,031 43,050 99,345 600,000

LAND/ROW ACQUISITION

CONSTRUCTION ADMINISTRATION CONTINGENCY

100,000

Total

Funding Sources

Total

2023

2024

2025

2026

2027

700,000

700,000

GO BONDS-ESSENTIAL PURPOSE

700,000

700,000

Total

Budget Impact/Other This project will add an additional 1,275 feet of trail (approximate) to the Parks & Recreation Department snow plowing, mowing, and general maintenance expenses. 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.

584