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Rivers Edge Park Improvements <br />Phase I expansion budget (funding sources) <br />Estimate <br />(CIP) <br />Lowest Bid <br />Construction <br />$ <br />382,000 <br />$ <br />305,610 <br />Includes $50,000 stone purchase based on quotes and Less alt 1 (Stairway) <br />contingency (8%) <br />$ <br />- <br />$ <br />24,449 <br />project contingency (recommendation from HKGI) <br />Planning/Design <br />$ <br />46,700 <br />$ <br />46,700 <br />$ <br />428,700 <br />$ <br />376,759 <br />Funding Sources <br />GRE Reserve <br />$ <br />78,340 <br />$ <br />54,038 <br />Park Dedication* <br />$ <br />259,135 <br />$ <br />209,358 <br />Sewer Fund <br />$ <br />13,200 <br />$ <br />19,255 <br />Storm Water <br />$ <br />17,135 <br />$ <br />43,429 <br />Street Improv. Res. <br />$ <br />60,890 <br />$ <br />50,679 <br />Over/(under) budget estimate <br />$ <br />428,700 <br />$ <br />376,759 <br />$ (51,941) <br />Diff. <br />$ <br />- <br />$ <br />- <br />deduct lighted add: contingency Revised <br />8% <br />bid handrail handrail -quotes Total <br />contingency Total <br />Alt. <br />1 stairway <br />$ 129,494 $ (83,250) $ 35,000 $ 81,244 <br />$ 6,500 $ 87,744 <br />8% Grants for Wi-Fi <br />bid contingency Total and cable tv** <br />Net <br />Alt. <br />2 electrical <br />$ 75,345 $ 6,028 $ 81,373 $ 7,200 <br />$ 74,173 <br />*= Original park construction was funded via park dedication, this phase will be an internal loan from GRE Reserve to park dedication <br />fund and repaid with future park dedication revenues. <br />**= City received a Blandin grant for the Wi-Fi in the park ($5,000) and cable franchise fee for the additional power to broadcast the events ($2,200). <br />