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

R4390

Project #

Useful Life 20 years

Project Name Reno Street Park Renovations

Category Parks Maintenance

Priority Essential (2)

MATCH % NONE GRANTEE NONE

PLAN Park Master Plan

TIF DISTRICT None

Status Active

Total Project Cost: $240,000

Description Replace playground at Reno Street Park. Add ADA compliant paths, park furnishings and fence to community garden.

Justification This replacement follows recommendatation of 2017 Park Master Plan. Playground components are aging and becoming difficult to repair and replace. This park lacks ADA compiant paths.

Expenditures

Total

2023

2024

2025

2026

2027

20,000 200,000

20,000 200,000

PLANNING/DESIGN CONSTRUCTION

5,000

5,000

INSPECTION

15,000 240,000

15,000 240,000

CONTINGENCY

Total

Funding Sources

Total

2023

2024

2025

2026

2027

240,000

240,000

GO BONDS-ESSENTIAL PURPOSE

240,000

240,000

Total

Budget Impact/Other There will be slightly less maintenance costs due to the replacement of older equipment. The expected annual savings is less than $5,000 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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