FY25 Proposed Budget

2024 2028 thru

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

PARKS & RECREATION

Department

Contact Joe Welter

Unassigned

Type

R4403

Project #

Useful Life

Project Name Carson Lake Park

Parks Maintenance

Category

Essential (2)

GRANTEE

PLAN

Priority

Active

MATCH %

TIF DISTRICT

Status

Total Project Cost: $1,900,000

Description This project will construction a new lake west of Highway 218, south of Rohret Road.

Justification This park is part of the Southwest District Development Plan.

Prior

Expenditures

Total

2024

2025

2026

2027

2028

PLANNING/DESIGN

200,000

200,000

200,000

CONSTRUCTION

1,000,000

1,000,000

Total

INSPECTION

100,000

100,000

ADMINISTRATION

50,000

50,000

100,000

CONTINGENCY

300,000

300,000

250,000

1,450,000

1,700,000

Total

Funding Sources

Total

2024

2025

2026

2027

2028

GO BONDS-ESSENTIAL PURPOSE

1,900,000

1,900,000

1,900,000

1,900,000

Total

Budget Impact/Other There will be regular maintenance of the lake, landscaping, shelter, and sidewalks/trails. The estimated increase in annual operating expenditures 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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