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7.3. SR 05-15-2006 City of Elk River REQUEST FOR COUNCIL ACTION Agenda Section Meeting Date U dates Ma 15, 2006 Item Description U date on Rivers Ed Item Number 7.3 Prepared by Bill Maertz, Park and Recreation Director Reviewed by Lori ohnson, Ci Administrator Introduction Update on Rivers Edge Commons Bid Opening Discussion Council authorized advertisement to bid for construction of River's Edge Commons based on an engineers estimate of $793,000. Six bids were submitted. Two of those were incomplete and thus rejected. The low bid was $1,058,047 by American Liberty Construction of Rockford, MN. There is a $265,000 shortfall that needs to be addressed before the bid can be awarded. Park dedication funds are inadequate to close this gap. Options: . Fund this $265,000 from some other source. . Work with contractor on change orders to reduce costs by eliminating some portions of the project . Redesign and re-bid the project. Staff is meeting with American Liberty Construction on Friday May 13, and will present information regarding these options at the council meeting. Staff believes that delaying this project will result in increased costs. Council Action Motion by _ Second by _ Vote Follow Up C: \Documents and Settings \tallard\Local Settings \ Temporary Internet Files \ OLKF\River's Edge Update. doc