FY2024 Proposed Budget

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

2023 2027 thru

Department SENIOR CENTER

Contact LaTasha DeLoach

Type Multi-Phase

K1001

Project #

Useful Life 15 years

Project Name Senior Center Facility Exterior Improvements

Category Senior Center

Priority Aesthetic Improvement (4)

MATCH % NONE GRANTEE NONE

TIF DISTRICT None PLAN None

Status Active

Description Necessary building envelope repairs include rebuilding the stone parapets and cornices, roof flashing improvements, stone façade pointing and sealing, painting and sealing exterior wood, and refurbishing historic wood framed windows. The Improvements are based on recommendations from the 2020 Accessibility Study and the 2021 Master Plan. Total Project Cost: $4,265,000

Justification The building is in dire need of tuckpointing and the entrances historically restored. The Senior Center will require a full building assessment to determine the scope of work and facility master plan over the next ten years.

Prior

Expenditures

Total

2023

2024

2025

2026

2027

170,000

170,000

1,515,000

PLANNING/DESIGN CONSTRUCTION

2,580,000 2,750,000

2,580,000 2,750,000

Total

Total

Prior

Funding Sources

Total

2023

2024

2025

2026

2027

750,000

750,000

1,515,000

FACILITY REPLACEMENT RESERVE TAX INCREMENT FINANCING

Total

2,000,000 2,750,000

2,000,000 2,750,000

Total

Budget Impact/Other There are no additional operating impacts at this time. There are cost savings for reducing building maintenance and repairs. The estimated operating expenditure 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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