FY 2020-2024 Capital Improvement Plan

Capital Improvement Plan City of Spencer, Iowa

thru FY 20 FY 24

Department Streets

Contact Public Works Director

Type Improvement

24-STR-001

Project #

Useful Life 50 Years

Project Name 2024 RECONSTRUCTION

Category Street Reconstruction

Priority 2 - Essential

Description The proposed project would consist of the following components: * East 4th Street - Sewer separation project (between 5th Ave E to 10th Ave E) * 6th Ave E - Sewer separation project * East 5th Street - Storm separation (between 5th Ave E to 10th Ave E) The budget for the project shows the project as being a special assessment project, however, the City will plan on applying for a CDBG grant (if area qualifies) and a FAST Act funds. If successful, these grants would change the funding scenarios that are being presented. Total Project Cost: $1,821,000

Justification The projects would continue the storm sewer / sanitary sewer separation program.

Expenditures Planning/Design

FY 20

FY 21

FY 22

FY 23

FY 24 303,000 1,518,000 1,821,000

Total

303,000

1,518,000 1,821,000

Construction/Maintenance

Total

Funding Sources

FY 20

FY 21

FY 22

FY 23

FY 24 294,920 615,000 237,360 673,720 1,821,000

Total

294,920 615,000 237,360 673,720

Sewer Reserve

Special Assessments Storm Sewer Reserve

Street Improvement Reserve

1,821,000

Total