Agenda Packets - 2004/03/08 - Laserfiche WebLink

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utility companies not moving their structure in a timely fashion, and lack of supplies such as sod. There are also several issues the City Council needs to consider from a financial standpoint. Generally, bids received this late in the year are higher than those received in the beginning of the year. This is especially true if the specifications have strict requirements that the project must be competed by year’s end. Another financial consideration is cash flow for Phase I. Given that the City will be financing these projects through the sale of bonds (typically the City would sell bonds only once per year after a project is ordered), if Phase II isn’t ordered until late in 2004, this will affect the sale of bonds for Phase I and, consequently, the cash flow for this project. Given these impacts, along with the desire to have street improvement projects that are well orchestrated, cost effective, and in order to create as little disruption to the residents as possible, Staff recommends that the start date for Phase II be set for May of 2005; and with a 2005 start date, to change the name of Phase II to the “2005 Street Improvement Project”. Recommendation: It is recommended the City Council provide direction to Staff to abandon schedules that call for a 2004 construction start for the 2003 Street Improvement Project - Phase II, and develop a new schedule that indicates a May 2005 start date. Respectfully Submitted, Greg Lee, Director of Public Works