FY2024 Proposed Budget
Capital Improvement Plan 2023-2027 City of Iowa City, Iowa
2023 2027 thru
Department PUBLIC WORKS
Contact Jason Havel
Type One Phase
S3952
Project #
Useful Life 50 years
Project Name Dodge Street Reconstruct - Governor to Burlington
Category Street Operations
Priority Essential (2)
MATCH % 35% GRANTEE IDOT
TIF DISTRICT None PLAN None
Status Active
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. Total Project Cost: $19,767,000
Justification This section of Dodge Street is in poor condition and requires significant ongoing maintenance.
Prior
Expenditures
Total
2023
2024
2025
2026
2027
158,000
158,000 150,000
1,367,000
PLANNING/DESIGN
150,000
LAND/ROW ACQUISITION
Total
13,950,000
13,950,000
CONSTRUCTION
400,000 400,000
400,000 400,000
INSPECTION
ADMINISTRATION CONTINGENCY
3,342,000 18,242,000
3,342,000 18,400,000
158,000
Total
Prior
Funding Sources FEDERAL GRANTS
Total
2023
2024
2025
2026
2027
3,750,000 5,500,000 9,400,000 18,650,000
3,750,000 5,500,000 9,400,000 18,650,000
1,117,000
GO BONDS-ESSENTIAL PURPOSE OTHER STATE GRANTS
Total
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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