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

S3956

Project #

Useful Life 50 years

Project Name Gilbert Street Bridge Replacement

Category Street Operations

Priority Critical (1)

MATCH % 60% GRANTEE IDOT

TIF DISTRICT None PLAN None

Status Active

Description This project will replace the existing Gilbert Street Bridge over Ralston Creek. In addition, the project will include removal and replacement of slope protection, sidewalk, storm sewer, water main, roadway paving and other related work. Total Project Cost: $4,375,000

Justification The Biennial Bridge Inspection Program identified advanced deterioration of the bridge deck and superstructure on the existing Gilbert Street Bridge. The Program recommended that the bridge be scheduled for significant repair or replacement.

Prior

Expenditures

Total

2023

2024

2025

2026

2027

85,000 260,000

85,000 260,000

175,000

PLANNING/DESIGN

LAND/ROW ACQUISITION

Total

3,022,000

3,022,000

CONSTRUCTION

150,000 100,000 300,000 283,000

150,000 100,000 300,000 283,000

INSPECTION

ADMINISTRATION CONTINGENCY

OTHER

4,200,000

4,200,000

Total

Funding Sources FEDERAL GRANTS

Total

2023

2024

2025

2026

2027

1,000,000 3,175,000

1,000,000 3,175,000

GO BONDS-ESSENTIAL PURPOSE REIMBURSEMENT OF EXPENSES

200,000

200,000

4,375,000

4,375,000

Total

Budget Impact/Other Replacing aged infrastructure will lower the City's ongoing expenditures through decreased maintenance costs. The estimated decrease in operating expenses is less than $10,000 / 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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