FY2024 Proposed Budget

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

2023 2027 thru

Department PUBLIC WORKS

Contact Ron Knoche

Type One Phase

P3953

Project #

Useful Life 40 Years

Project Name Equipment Maintenance Facility replacement

Priority Essential (2) Category Equipment

MATCH % NONE GRANTEE NONE

PLAN Facilities Master Plan

TIF DISTRICT None

Status Active

Description Construct a new Equipment Maintenance Facility on the public works campus to replace the old and dated facility at the corner of Highways 1 & 6. Total Project Cost: $13,000,000

Justification The current Equipment Maintenance Facility is outdated, inefficient, and a poor working environment for the employees.

Expenditures

Total

2023

2024

2025

2026

2027

1,000,000

1,000,000 12,000,000 13,000,000

PLANNING/DESIGN CONSTRUCTION

12,000,000 12,000,000

1,000,000

Total

Funding Sources EQUIPMENT FUND

Total

2023

2024

2025

2026

2027

1,000,000

7,500,000 1,000,000

8,500,000 1,000,000

FACILITY REPLACEMENT RESERVE GO BONDS-GENERAL PURPOSE

700,000

700,000

500,000 250,000 250,000

500,000 250,000 250,000

LANDFILL FUND

REFUSE COLLECTION FUND

STORMWATER FUND WASTEWATER FUND

1,000,000

1,000,000

800,000

800,000

WATER FUND

1,000,000

12,000,000

13,000,000

Total

Budget Impact/Other A new facility will be more energy efficient which will save costs on utilities; however, a newer facility will add square footage and increase insurance, cleaning, and similar expenses. The estimated annual increase in operating expenditures is $50,000 to $100,000 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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