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DISCUSSION Bids Sealed bids for this slurry sealing project were opened on July 20, 2011. There were a total of four (4) bids received, ranging between the low bid amount of $414,084, from Valley Slurry Seal Company, to $510,648.50. This low bid is approximately 14% lower than the engineer's estimate of$480,000 (see Attachment 2). Past work performed by Valley Slurry Seal Company was verified to be satisfactory. Therefore, staff recommends award of the construction contract to the lowest responsible bidder, Valley Slurry Seal Company. Budget The subject project was authorized as part of the FY 2010-2011 CIP with a budget of $250,000 for design and construction, including Gas Tax and Measure B funding. Staff is recommending the transfer of an additional $205,800 from last year's slurry seal project, CIP No. 095004, in order to provide sufficient funding for the current project. Although last year's slurry seal project has not yet been accepted, staff identified a funding excess in that project of $354,534 at the time of award. The current year's project was designed with the intent to use those excess funds. The estimated total expenditures for this project is $455,800, including a 10% construction contingency of $41,408 (see Attachment 3). Schedule The proposed schedule for the subject project is as follows: Approval of Plans & Specifications and Award of Contract: 08/16/2011 Start of Construction: 09/26/2011 End of Construction: 11/11/2011 Submitte Fiscal Review: Approve by: fir /41..—_ -r+-r_ tar i Brian Dolan Emily Wagner Nelson Fialho Director of Director of Finance City Manager Community Development Attachments: 1. Vicinity Map 2. Bid Summary 3. Funding and Estimated Expenditure Summary Page 3 of 3