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In addition to the three funding sources noted above, the 2008 budget also <br />contained $2,000 for the crack sealing to be done by City forces under the <br />Pavement Management Fund (account 100-4470-4010). Therefore the budget <br />for all work associated with the project including the crack sealing is $217,000. <br />The feasibility report for the 2008 Street Maintenance Project estimated the <br />project cost to be $176,130. A copy the Project Financing section and the <br />detailed cost estimate from the report are included for reference. <br />If the Police and Sally Port parking lots were removed from the project and the <br />crack sealing were added to the project, the revised estimated project cost would <br />be as shown below: <br />Cost estimate – feasibility report $ 176,310 <br /> Less Police Parking Lot - 2,280 <br /> Less Sally Port Parking Lot - 540 <br /> Plus Crack Sealing 4,185 <br />Revised estimate – total project cost $ 177,675 <br /> Alternate repair – County Road H2 13,000 <br />Estimated total project including County Road H2 $ 190,675 <br />Project budget $ 217,000 <br />It can be seen from the above table that even if the alternate repair to the surface <br />of County Road H2 were included in the project, the total estimated project cost <br />is still well within the budget. <br />What’s Next – The project is proceeding in accordance with the schedule <br />summarized in the report to City Council on March 24, 2008: <br />May 12, 2008 City Council Approves Plans and Specifications, sets <br />a June 12, 2008 bid date, and authorizes the <br />advertisement for bids <br />June 12, 2008 Bids Received (Thursday 10:00 AM, Mounds View <br />City Hall) <br />June 23, 2008 Construction Contract Awarded <br />July 21, 2008 Project Begins <br />July / August 2008 Initial Sweeping – three days after application. <br />Second sweeping – 30 days after application <br />August 30, 2008 Project Completed