COUNCIL APPROVES PHASE 2 CONSTRUCTION CONTRACT FOR 2024
Town Council approved the construction and landscaping contracts for the 2024 continuation of Phase 2 of the Midland Avenue Streetscape project. The great news is that through a value engineering process, the Town of Basalt realized a reduction of $4.7 million dollars without compromising any major design elements. This cost reduction was realized by bidding the project during the fall instead of the spring peak construction season, changes in some concrete attributes to other materials, and finding efficiencies in construction techniques.
The entire budget for the project is approximately $16.8 million, which includes $2.6 million of grants and partnership funding reducing the Town expenses to $14.2 million. This $14.2 million includes a conservative project contingency of $1.2 million. Also, this $14.2 million includes the additional scope infrastructure improvements to the Midland Spur not originally contemplated in 2021. Through the annual Town budget adoption process, $17.9 million in available funds were previously identified to complete the project. The final expenses to the Town are notably below the available funds.
|