Agenda Item Title:
Approve award of total bid for Sheridan Lake Road Reconstruction Corral Drive to Catron Boulevard, Project No. 23-2737 / CIP No. 51122.2 opened on December 12, 2023 to the lowest responsible bidder, Reede Construction, Inc. in the amount of $16,778,051.50.
Origination Group:
City Council
Origination Meeting Date:
12/18/2023
Staff Contact:
Sara Odden, PE
Agenda Item Summary:
Project includes the reconstructing/widening of Sheridan Lake Road from and including the intersections of Corral Drive and Catron Boulevard. Work included is channel grading, storm sewer installation, sidewalk construction and grid block retaining walls. Award amount is based on the bid unit pricing plus an incentive of up to $1,000,000.00. Actual incentive amount will be finalized at project completion. Incentive is offered at a rate of $10,000 per day for each calendar day final surfacing and traffic signals are complete, and all lanes are open to traffic in advance of August 4, 2025, plus incentive of $1,000 per day for lane rental as identified in the contract. The total maximum incentive allowed is $1,000,000.
Funding Source & Fiscal Impact (if applicable):
| Funding | Cost Center |
|---|---|
| 505 | 8910 |
Is Funding Budgeted?:
Budgeted
Recommendations:
Origination Recommendation Action:
Award
Origination Recommendation Notes:
Award: Total Bid in the amount of $15,778,051.50 to Reede Construction, Inc. plus up to an amount not to exceed $1,000,000 for incentive to be determined upon project completion.
City Council Recommendation Action:
Award