8.4. SR 04-04-2016 - Laserfiche WebLink

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unfeasible due to material lead times combined with the scheduled start of the Riverfront Concert Series on June 16. Bids were advertised for the construction of the Rivers Edge Park Expansion and publicly opened at 2 p.m. on Tuesday, March 15. Bids were received from the following (4) companies: Sunram Construction Inc. — Corcoran, MN (apparent low bidder) Veit and Company Inc. — Rogers, MN Custom Builders Inc. - St. Cloud, MN New Look Contracting Inc. — Rogers, MN Of the (4) bids, (2) were above the engineers estimate and (2) were below the estimate. As noted on the funding sources spreadsheet, the base bid came in at $51,941 under the CIP budget estimate. The overall bid cost estimates for both the second stairway/plaza addition (alternative 1) and the alternative 2 electrical additions came in or under the engineers estimate. If the lighted handrail item within alternative 1 is removed, as recommended by staff because it far exceeds the estimate, and then replaced as a contingency for $35,000 to be purchased later, the total amount for alternative 1 becomes significantly less at $45,000 less the engineers estimate. The actual bid for alternative 2 is $6,000 less than the engineers estimate. Thus, the grand total for the base bid, and alternates 1 & 2 combined comes in at over $100,000 less than the engineers budget estimate. Financial Impact A summary of the funding sources is attached to reflect the base bid amount received. The CIP estimated $382,000 for the phase I construction improvements. The lowest bid came in at $385,104 less the deduction for alternative #1 stairway ($129,494) and an additional $50,000 for stones. The project amount of $305,610 with an 8% contingency, is $51,941 below the CIP estimate. It is recommended that Park Dedication fund the majority of this project, including the alternatives if Council decides to move forward. The Park Dedication funding is an internal loan from the GRE reserve fund and will be repaid as revenues are collected. Once all the final amounts are determined staff will bring back the internal loan resolution on a future consent agenda. Staff has reviewed with HKGi the alternate pricing and found that the lighted handrail cost of $83,250 within alternate 1 exceeds the original estimate and can be eliminated. We recommend the handrail be replaced as a contingency for $35,000 to be purchased at a later date. This will significantly save the city $48,250 moving forward with alternate 1. Attachments ■ Capital Improvement Plan ■ Rivers Edge Commons Park Concepts -base bid and with alternates ■ Funding Sources spreadsheet ■ Bid Tabulation form with Alternates