CC MINUTES 04281987 - Laserfiche WebLink

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-13- Council Action Motion by Marks, seconded by Makowske to accept the above and award the contracts to: *Midwest Asphalt for blacktop materials; *Koch Materials for sealcoating oil; *Wyatt Bros. Ready Mix for concrete; *Barton Sand & Gravel for aggregate. Motion carried unanimously. Architect Presents Bids for Stonehouse Remodeling/Reconstruction Projects Steven Patrick of BWBR Architects answered questions from the Councilmembers related to the eight bids which had been received for the off-sale liquor store which had ranged from $324,000 to the low bid from Fulco Construction for $288,500 and the $17,866 bid from PYA/Monarch, Inc. to provide the bar furniture for the remodeled bar. Mr. Childs had reported in his April 23rd memorandum that the costs of remodeling the Stonehouse Bar would be approximately $150,000-160,000, barring unforeseen expenses. He had also advised the cost estimates for the restaurant and seating area addition would be about $60,000 as indicated in Mr. Hamer' s April 20th estimate -of those costs. • The preliminary estimate in terms of bonding, which had been given by Springsted, Inc. , had been included in Mr. Childs ' memorandum where the Manager had suggested options the Council might want to consider related to the sale of the bonds; the inclusion of a restaurant in the project; and the availability of the Public Works Department crews to do the remodeling project. Mr. Patrick told the Councilmembers his company had researched the low bidding contract and found out that they had some experience in building liquor stores, fire stations, etc. He said Fulco had been willing to hold their bid price until after the bonding sale, May 26th. The architect asked the Council to award the contract for the liquor store contingent on the City acquiring financing. Mr. Soth advised that could be done because, if the financing is not received, all bids could then be rejected. Mr. Childs said he perceived the question was not whether the City could get financing for the project, but how much the interest rate would be. He then went over the figures he had given as a preliminary estimate of such a bond and Springsted quotes for contingency costs in the copies of the financial consultant' s letter the Manager had put in the Council mailboxes that day. The estimated bond total for the project was $685,000 with estimated • annual debt service costs amounting to $97, 500.