Final FY25 Adopted Budget

2024 2028 thru

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

PUBLIC WORKS

Department

Contact Melissa Clow

One Phase

Type

S3956

Project #

50 years

Useful Life

Project Name Gilbert Street Bridge Replacement

Street Operations

Category

GRANTEE IDOT

PLAN None

Critical (1)

Priority

MATCH % 60%

TIF DISTRICT None

Active

Status

Total Project Cost: $5,750,000

Description This project will replace the existing Gilbert Street Bridge over Ralston Creek. In addition, the project will include removal and replacement of slope protection, sidewalk, storm sewer, water main, roadway paving and other related work.

Justification The Biennial Bridge Inspection Program identified advanced deterioration of the bridge deck and superstructure on the existing Gilbert Street Bridge. The Program recommended that the bridge be scheduled for significant repair or replacement.

Prior

Expenditures

Total

2024

2025

2026

2027

2028

CONSTRUCTION

850,000

850,000

4,375,000

INSPECTION

150,000

150,000

Total

CONTINGENCY

375,000

375,000

1,375,000

1,375,000

Total

Prior

Funding Sources

Total

2024

2025

2026

2027

2028

GO BONDS-ESSENTIAL PURPOSE

1,375,000

1,375,000

4,375,000

Total

1,375,000

1,375,000

Total

Budget Impact/Other Replacing aged infrastructure will lower the City's ongoing expenditures through decreased maintenance costs. The estimated decrease in operating expenses is less than $10,000 / 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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