FY2024 Proposed Budget

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

2023 2027 thru

Department PUBLIC WORKS

Contact Melissa Clow

Type One Phase

S3955

Project #

Useful Life 50 years

Project Name N. Gilbert Street Reconstruction

Category Street Operations

Priority Essential (2)

MATCH % NONE GRANTEE NONE

TIF DISTRICT None PLAN None

Status Active

Description Reconstruction of N. Gilbert Street from the construction limits of the Gateway project just south of Kimball Road to and including the intersection with Brown Street. Improvements to inlcude new sanitary sewer, adjustment and replacement of minor sections of water main and fire hydrants, new stormsewer extensions, PCC roadway paving on the main corridor of N Gilbert Street, reconstruction of the brick Brown Street and N Gilbert Street intersection, sidewalks on both sides of the street, and private utility undergrounding. Total Project Cost: $2,500,000

Justification Gilbert Street requires full reconstruction at this time. There are no storm sewers between Brown Street and the new intakes installed with the Gateway project. Sidewalks are located only at the top of the hill, near Brown Street and residents have requested that pedestrian connectivity be provided to them with the roadway improvements.

Prior

Expenditures

Total

2023

2024

2025

2026

2027

65,000 200,000

65,000

200,000

PLANNING/DESIGN CONSTRUCTION

1,685,000

1,885,000

Total

100,000 100,000 150,000

100,000 100,000 150,000

INSPECTION

ADMINISTRATION CONTINGENCY

265,000

2,035,000

2,300,000

Total

Funding Sources

Total

2023

2024

2025

2026

2027

2,500,000

2,500,000

GO BONDS-ESSENTIAL PURPOSE

2,500,000

2,500,000

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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