FY 2019-2023 Capital Improvement Plan

Capital Improvement Plan City of Spencer, Iowa

thru FY 19 FY 23

Department Administration

Contact Finance Director

Type Improvement

19-ADM-002

Project #

Useful Life 30 Years

Project Name CITY HALL REMODEL

Priority 2 - Essential Category Buildings

Description The proposed project will purchase the old Northwest Bank facility located at 101 W 5th Street for use as a new City Hall. The City plans on renovating the facility to hold City Hall offices, meeting space and City Council Chambers. Space will be dedicated for the Spencer Main Street program. Justification The City has occupied the current facility for approximately 30 years and the current layout does not meet the current needs of the City for an efficient office building. The new facility has more square footage and can be renovated in a manner that will be more efficient that what could have been achieved at the current facility. The City has entered into a sales agreement with Farmers Bank for the current City Hall. Total Project Cost: $2,000,000

Expenditures

Total

FY 19 2,000,000 2,000,000

FY 20

FY 21

FY 22

FY 23

2,000,000 2,000,000

Construction/Maintenance

Total

Funding Sources

Total

FY 19 2,000,000 2,000,000

FY 20

FY 21

FY 22

FY 23

2,000,000 2,000,000

Bonds: G.O.

Total