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

R4387

Project #

Useful Life 20 years

Project Name Willow Creek Trail Replacement

Category Parks Maintenance

Priority Essential (2)

MATCH % NONE GRANTEE NONE

PLAN Park Master Plan

TIF DISTRICT None

Status Active

Description The Willow Creek trail spanning 0.8 miles from Benton St to Willow Creek Dr including a spur of the trail connecting to Aber Ave is in need of replacement. Total Project Cost: $855,000

Justification This trail is crumbling in many locations and will soon be unsafe to use. Patching has occurred as a temporary fix but a complete replacement is necessary. Project inlcudes a 10-ft wide trail on nearly the same footprint as the existing 0.9 miles of trail.

Prior

Expenditures

Total

2023

2024

2025

2026

2027

75,000 590,000 25,000 25,000 75,000 790,000

75,000 590,000 25,000 25,000 75,000 790,000

65,000

PLANNING/DESIGN CONSTRUCTION

Total

INSPECTION

ADMINISTRATION CONTINGENCY

Total

Funding Sources GENERAL FUND GO BONDS-GENERAL PURPOSE

Total

2023

2024

2025

2026

2027

155,000 700,000

155,000 700,000

855,000

855,000

Total

Budget Impact/Other This project will slightly lower the operating budget to less maintenance and upkeep from replacing older infrastructure with newer infrastructure. The estimated annual cost savings is less than $10,000. 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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