City Manager Zach Walker outlined a comprehensive plan on deferred maintenance and capital improvements in a recent report to the City Council.
The plan includes $280 million of proposed improvements to the city's electric utility.
The two major requests are $135 million to provide new, more efficient generation capacity at the Blue Valley location - an older power plant which recently was converted from coal to natural gas.
Another $135 million is needed to replace six natural gas or oil-fired combustion turbine units nearing the end of their life cycle.
Another $10 million might be needed to replace the IPL Service Center building.
Utility rate increases would be needed to fund the proposed IPL capital improvements.
The current budget includes $16.4 million in capital projects for IPL. The utility has 888 miles of transmission lines.
Watch video of the city council presentation.