FY25 Proposed Budget

2024 2028 thru

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

PUBLIC WORKS

Department

Contact Ron Knoche

One Phase

Type

P3953

Project #

40 Years

Useful Life

Project Name Equipment Maintenance Facility replacement

Equipment

Category

GRANTEE NONE

PLAN Facilities Master Plan

Essential (2)

Priority

MATCH % NONE

TIF DISTRICT None

Active

Status

Total Project Cost: $13,000,000

Description Construct a new Equipment Maintenance Facility on the public works campus to replace the old and dated facility at the corner of Highways 1 & 6.

Justification The current Equipment Maintenance Facility is outdated, inefficient, and a poor working environment for the employees.

Prior

Expenditures

Total

2024

2025

2026

2027

2028

CONSTRUCTION

12,000,000

12,000,000

1,000,000

12,000,000

12,000,000

Total

Total

Prior

Funding Sources

Total

2024

2025

2026

2027

2028

EQUIPMENT FUND

7,400,000

7,400,000

1,000,000

FACILITY REPLACEMENT RESERVE GO BONDS-GENERAL PURPOSE

700,000

700,000

Total

1,300,000

1,300,000

LANDFILL FUND

500,000

500,000

REFUSE COLLECTION FUND

250,000

250,000

STORMWATER FUND

250,000

250,000

WASTEWATER FUND

800,000

800,000

WATER FUND

800,000

800,000

12,000,000

12,000,000

Total

Budget Impact/Other A new facility will be more energy efficient which will save costs on utilities; however, a newer facility will add square footage and increase insurance, cleaning, and similar expenses. The estimated annual increase in operating expenditures is $50,000 to $100,000 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.

582