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The original contract amount as awarded was $1,674,769.46. This included the <br />base bid plus the alternate for the reconstruction of the parking lot at Lakeside <br />Park. One Change Order was issued during the course of the project, with a <br />value of $11,370.75. <br />The actual final construction cost is $1,617,227.27. The final payment amount is <br />$16,172.28, which consists only of releasing the current project retainage. <br />A summary of the contract and final construction costs is shown in the following <br />table: <br />2003 Street Improvement Project <br />Construction Contract Summary <br />Item Amount <br />Base Bid $1,574,804.21 <br />Alternate No. 2 – Lakeside Park $99,965.25 <br /> Total Original Contract Award $1,674,769.46 <br />Change Order No. 1 $11,370.75 <br />Total Project Contract $1,686,140.21 <br />Total Construction Cost $1,617,227.27 <br />Difference ($68,912.94) <br />Spring Lake Park Financial Responsibility <br />The 2003 Street Improvement Project included Hillview Road and the parking lot <br />at Lakeside Park. Both of these facilities are jointly owned and maintained by <br />Mounds View and Spring Lake Park. The cities entered into an Agreement on <br />May 14, 2004 for the cost sharing of the work to be performed under the project. <br />The cost for Lakeside Park was to be shared equally between the cities. The <br />costs for the utility and street improvements on Hillview Road were to be <br />allocated per the Feasibility Report for the project. <br />The final costs for the project have been determined. A summary of the portion <br />to be assigned to Spring Lake Park is shown in the following table. The <br />estimated responsibility of Spring Lake Park as stated in the Agreement between <br />the cities is also shown for purposes of comparison.