FY25 Proposed Budget

2024 2028 thru

Capital Improvement Plan 2024-2028 City of Iowa City, Iowa

LIBRARY

Department

Contact Elsworth Carman

Multi-Phase

Type

B4343

Project #

15 years

Useful Life

Project Name Carpet and Furnishings Replacement

Library

Category

GRANTEE NONE

PLAN None

Essential (2)

Priority

MATCH % NONE

TIF DISTRICT None

Active

Status

Total Project Cost: $775,000

Description A multi-year project to replace carpeting and some furnishings in large areas of the Library. First floor has 31,000 square feet of carpet and second floor has 39,000. Project includes updates for carpet, demo and floor prep, moving, GC, insurance, fees, bonds, and contingency. In addition, some of the original furnishings, including casual seating and gallery furnishings will be replaced. An emphasis on sustainable, durable materials and flexible space-making will steer this project.

Justification Since the building opened in 2004, more than 9,500,000 people have come through the doors. The Library is a heavily visited public space in the heart of downtown; ongoing investment in the building is necessary to ensure a safe and attractive space is maintained. While this project falls under the "Aesthetic Improvement" priority right now, failure to complete this work in a timely manner will result in safety and efficiency issues in the future, which could lead to more costly unplanned repairs.

Expenditures

Total

2024

2025

2026

2027

2028

CONSTRUCTION

775,000

775,000

775,000

775,000

Total

Funding Sources

Total

2024

2025

2026

2027

2028

GO BONDS-GENERAL PURPOSE

775,000

775,000

775,000

775,000

Total

Budget Impact/Other Neutral impact on staffing and maintenance expected. No additional revenue generated.

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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