FY2024 Proposed Budget

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

2023 2027 thru

Department PUBLIC WORKS

Contact Geoff Fruin

Type One Phase

S3939

Project #

Useful Life 50 years

Project Name Dubuque Street Reconstruction

Category Street Operations

Priority Critical (1)

MATCH % NONE GRANTEE NONE

PLAN Downtown Streetscape Plan

TIF DISTRICT City-University

Status Active

Description This project is part of the downtown streetscape master plan. This project reconstructs Dubuque Street from Washington to Iowa Avenue. The project also improves sidewalk pavement, addresses critical utility updates, and enhances the retail environment with streetscape components. Project also includes alley improvements, lighting, and wayfinding. Total Project Cost: $3,800,000

Justification Dubuque Street is an important link in Downtown as is often the entry way for visitors into the area. The project will narrow the road creating a more pedestrian friendly environment and allowing for enhanced retail areas.

Prior

Expenditures CONSTRUCTION

Total

2023

2024

2025

2026

2027

2,900,000

2,900,000

300,000

200,000 400,000

200,000 400,000

INSPECTION

Total

CONTINGENCY

3,500,000

3,500,000

Total

Funding Sources

2023

2024

2025

2026

2027

Total

3,800,000

3,800,000

GO BONDS-ESSENTIAL PURPOSE

3,800,000

3,800,000

Total

Budget Impact/Other This project should reduce operating expenditures due to the replacement of infrastructure in poor condition. The anticipated annual savings 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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