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February 23, 2009 Item No. 7B Page 2 Discussion: Bid Result Summary Bids for the 2009-2010 Street and Utility Improvement Project were opened at 2:00 P.M. on January 29, 2009. Thirteen bids were received on the project. The bids have been tabulated, and a copy of the bid tabulation and cover letter detailing the results of the bids is attached to this Staff Report for reference. The bids received ranged from $3,948,859.33 to $4,736,316.90. This compares to the engineer’s estimate of $4,655,000.00. The low bid was received from North Valley, Inc. From the results it is evident that the timing of the bid opening was very good. There was much competition for the work and the excellent prices were received. One specific good price received was on the bituminous mixture. The estimated price for this material, based on bids from Fall 2008 in other communities, was approximately $60.00 per ton. The actual price in the low bid is approximately $55.00 per ton. This alone results in a savings of approximately $75,000 in construction cost on the project. Staff is familiar with the low bidder, North Valley Inc. They were the contractor on the project to reconstruct the County Highway 10 Frontage Roads in Spring Lake Park in 2007. They were also the sub-contractor for the paving portion of the Hidden Hollow South project within Mounds View. Staff has no reservations regarding award of contract to North Valley Inc. Financing The bid results have been provided to the Finance Director for review. No problems with the financing for this project or the overall Street and Utility Improvement Program are anticipated based on the updated information. Silver Lake Woods The 2009-2010 Street and Utility Improvement Project includes the improvements for Lake Court Drive and Lake Court Circle in the Silver Lake Woods Development. The cost for these improvements is being 100% financed by the Silver Lake Woods Condominium Association, per the Street Transfer Agreement between the Association and the City, dated December 29, 2008. The improvements for the Silver Lake Woods area were identified in separate parts of the bid for purposes of tracking the costs. The street improvements are shown in Part 3 of the bid, while utility improvements are shown in Part 4. A summary of the construction cost for the improvements in Silver Lake Woods, based on the low bid, is shown in the following table.