FY2024 Proposed Budget

Capital Improvement Plan 2023-2027 City of Iowa City, Iowa

2023 2027 thru

Department PARKS & RECREATION

Contact Juli Seydell-Johnson

Type One Phase

R4372

Project #

Useful Life 20 years

Project Name Terrell Mill Skate Park Redevelopment

Category Parks Maintenance

Priority Essential (2)

MATCH % NONE GRANTEE NONE

PLAN Park Master Plan

TIF DISTRICT None

Status Active

Total Project Cost: $2,000,000

Description Renovation of skatepark and access paths. Addition of bicycle pump track.

Justification The skatepark is nearing an age where replacement is necessary for it to continue to draw skaters as well as for improved maintenance and safety. The addition of the pump track will bring even more users to the facility.

Expenditures

Total

2023

2024

2025

2026

2027

150,000

150,000

PLANNING/DESIGN CONSTRUCTION

1,500,000

1,500,000

350,000

350,000

CONTINGENCY

2,000,000

2,000,000

Total

Funding Sources GENERAL FUND GO BONDS-GENERAL PURPOSE OTHER STATE GRANTS

2023

2024

2025

2026

2027

Total

500,000 700,000

500,000 700,000

800,000

800,000

2,000,000

2,000,000

Total

Budget Impact/Other The budget impact of this project is negligible as it replaces outdated infrastructure and adds a minimal amount of new infrastructure. 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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