Final FY25 Adopted Budget
2024 2028 thru
Capital Improvement Plan 2024-2028 City of Iowa City, Iowa
PUBLIC WORKS
Department
Contact Jason Havel
One Phase
Type
S3959
Project #
50 years
Useful Life
Project Name Taft Avenue Reconstruct - Am Legion to Lwr West Br
Street Operations
Category
GRANTEE NONE
PLAN None
Essential (2)
Priority
MATCH % NONE
TIF DISTRICT None
Active
Status
Total Project Cost: $13,200,000
Description Reconstruction of Taft Avenue from American Legion Road to Lower West Branch. Design of this project would begin in 2022 with construction to begin in 2025.
Justification The properties west of Taft Avenue between Lower West Branch Road and American Legion Road are now fully developed. With the construction of the new Hoover School and the upcoming American Legion Road and Scott Boulevard trunk sewer extension projects, the area will likely experience growth in the next five to ten years necessitating improvements to Taft Avenue.
Prior
Expenditures
Total
2024
2025
2026
2027
2028
LAND/ROW ACQUISITION
350,000
350,000
1,000,000
CONSTRUCTION
9,750,000
9,750,000
Total
INSPECTION
300,000
300,000
ADMINISTRATION
300,000
300,000
CONTINGENCY
1,500,000
1,500,000
12,200,000
12,200,000
Total
Funding Sources
Total
2024
2025
2026
2027
2028
FEDERAL GRANTS
3,500,000
3,500,000
GO BONDS-ESSENTIAL PURPOSE
9,700,000
9,700,000
13,200,000
13,200,000
Total
Budget Impact/Other This project will add infrastructure into the City which will incrementally increase the City's operating costs. The estimated increase in 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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