FY2024 Proposed Budget

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

2023 2027 thru

Department TRANSPORTATION SERVI

Contact Darian Nagle-Gamm

Type One Phase

T3026

Project #

Useful Life 50 years

Project Name Tower Place Drainage Modifications

Category Parking Operations

Priority Critical (1)

MATCH % NONE GRANTEE NONE

TIF DISTRICT None PLAN None

Status Active

Description This project will modify the existing drainage pipe network and divert storm water from the upper decks to the exterior of the structure rather than routing it through the lower level. Total Project Cost: $550,000

Justification The lower level of Tower Place Parking Ramp repeatedly floods during high intensity rain events causing significant property damage. Several spaces in the lower level are closed to prevent future property damage until this project is completed. These vehicles are utilizing visitor parking spaces in the upper levels of the ramp resulting in loss revenue.

Expenditures

Total

2023

2024

2025

2026

2027

50,000

50,000 375,000 30,000 15,000 30,000 500,000

100,000 375,000 30,000 15,000 30,000 550,000

PLANNING/DESIGN CONSTRUCTION

INSPECTION

ADMINISTRATION CONTINGENCY

50,000

Total

Funding Sources PARKING FUND

Total

2023

2024

2025

2026

2027

50,000 50,000

500,000 500,000

550,000 550,000

Total

Budget Impact/Other Twelve revenue generating spaces in the upper levels of the Tower Place Parking Ramp are currently being used for this relocation. The revenue impact is $12,000 annually in addition to less available parking to accommodate visitor parking.

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