FY25 Proposed Budget

2024 2028 thru

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

PARKS & RECREATION

Department

Contact Juli Seydell-Johnson

One Phase

Type

R4229

Project #

40 Years

Useful Life

Project Name City Park Pool Replacement

Recreation

Category

GRANTEE NONE

PLAN Recreation Master Plan

Efficiency Improvement (3)

Priority

MATCH % NONE

TIF DISTRICT None

Active

Status

Total Project Cost: $10,800,000

Description Replace City Park Pool with new outdoor swimming pool and bathhouse.

Justification City Park Pool is an Iowa City landmark and tradition. However, due to its advancing age it will need to be replaced with a more modern facility.

Expenditures

Total

2024

2025

2026

2027

2028

PLANNING/DESIGN

500,000

500,000

CONSTRUCTION

9,800,000

9,800,000

CONTINGENCY

500,000

500,000

500,000

10,300,000

10,800,000

Total

Funding Sources

Total

2024

2025

2026

2027

2028

FACILITY REPLACEMENT RESERVE GO BONDS-GENERAL PURPOSE

500,000

9,000,000

9,500,000

1,300,000

1,300,000

500,000

10,300,000

10,800,000

Total

Budget Impact/Other This project will increase annual operating expenditures for insurance and utilities, but will also require lower maintenance and upkeep. The net increase in operating expenditures is estimated between $15,000 and $25,000 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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