Laserfiche WebLink
2020 Seal Coating Staff Report Cont'd <br />The bid is a unit price bid, meaning, the payment will be made based on measured quantities. <br />The costs provided to the JPA $1.04/syd. The 2020 budget includes funding of $98,500.00 to <br />perform the proposed seal coat work in the Street Improvement Fund (485-4470-7050). <br />As part of the JPA with Coon Rapids, Mounds View has a 30 -day 'opt -out' period during which <br />the City can completely opt out of the contract, in addition to adjusting the planned quantities. <br />Prior to the expiration of this 30 -day period (April 15, 2020), Mounds View needs to provide <br />either a concurrence or an opt -out notification to Coon Rapids. Coon Rapids expects to award <br />the contract at their April 21, 2020 Council Meeting. Once the contractor begins work, Mounds <br />View will inspect/approve the work and invoice accordingly. <br />In addition, the construction cost with the JPA includes an administrative fee to be paid to the <br />City of Coon Rapids no later than 90 days after the contract award. This administrative fee is <br />based on a sliding scale, and the following table calculates the fee that will be required as part <br />of this contract as well as the total project cost. The administrative fee covers advertising, <br />specification preparation, legal review and other overhead costs that Staff would have been <br />required to complete if the City went out for bids independently. This administrative fee adds <br />approximately $0.02/syd to the cost of the project. <br />Project Cost (Based on Low Bid) <br />Construction Cost <br />Admin Cost <br />Admin Cost <br />(Percentage) <br />(Low Bid) <br />$0450,000 $50,000 <br />2.00% <br />$ 1,000.00 <br />$50,001 - $100,000 <br />1.50% <br />$ 750.01 <br />Over $100,000 <br />1.00% <br />$ 73.28 <br />Total Admin Cost <br />$1,823.29 <br />Construction Cost <br />$107,328.93 <br />Contingency Cost 10% <br />$10,732.89 <br />TOTAL PROJECT <br />COST <br />$ 119,885.11 <br />