Consent 1.A.1.
Regular City Council Meeting
- Meeting Date:
- 05/26/2015
- TITLE
- Delay of Bid Award SID 1382 Colton Boulevard Bid Award
- PRESENTED BY:
- David Mumford
- Department:
- Public Works
Presentation:
PROBLEM/ISSUE STATEMENT
SID 1382 will construct Colton Boulevard between Zimmerman Trail and 38th Street West. The project was bid on May 12th. Staff recommends that the City Council delay bid award until the June 8th City Council meeting, which will allow enough time to sell the SID bonds that finance the project.
ALTERNATIVES ANALYZED
There is no alternative to delaying award of SID 1382.
FINANCIAL IMPACT
The total estimated costs of the Improvements are $1,278,302.11. The costs of the Improvements are to be paid from the following sources: (1) $382,000.00 of Special Improvement District bonds; (2) $251,040.71 of cash contribution by
Boyer Land LLC, the owner of 9 lots in the District; and (3) $654,261.40 of cash contribution by the City of Billings. The contribution from the city is comprised of $65,000 water funds, $100,000 storm drain funds and $489,261.40 gas tax.
Boyer Land LLC, the owner of 9 lots in the District; and (3) $654,261.40 of cash contribution by the City of Billings. The contribution from the city is comprised of $65,000 water funds, $100,000 storm drain funds and $489,261.40 gas tax.
RECOMMENDATION
Staff recommends that the City Council delay award of a construction contract for SID 1382 until the June 8th meeting.