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A summary of the project budget is presented in Attachment 3 to this report. As <br /> indicated in this attachment, a total of$75,000 in funding has been approved for this <br /> project to date. Expenses and encumbrances to date total $31,194 resulting in current <br /> available funding of$43,806. With a construction budget estimated at$243,826, there <br /> are insufficient funds for the subject construction and related construction support <br /> services. Staff recommends the transfer of Bicycle and Pedestrian Related <br /> Improvements, CIP 125043 to Bicycle and Pedestrian Related Improvements Hopyard <br /> and Golden, CIP 135043 to meet the budget shortfall. <br /> Bids <br /> The engineer's estimate for the project was calculated at $210,000. Sealed bids were <br /> opened on May 12, 2014. Five bids were received that ranged from $216,685 to <br /> $318,580 (see Attachment 2). The low bid was received from Sposeto Engineering, Inc: <br /> of Livermore, California. All bid documents were found to be in order and past work <br /> performed by Sposeto Engineering, Inc. was verified to be. satisfactory. Staff <br /> recommends award of the construction contract to Sposeto Engineering Inc. <br /> Schedule <br /> The proposed schedule for the project is as follows: <br /> Approval of Plans and Specifications/Award of Contract June 03, 2014 <br /> Start of Construction July 2014 <br /> End of Construction October 2014 <br /> Submitted by: Fiscal Review: Approve by: <br /> ri/11-t <br /> Brian Dolan Emily Wagner Nelson Fialho <br /> Director of Director of Finance City Manager <br /> Community Development <br /> Attachments: <br /> 1. Project Locations <br /> 2. Bid Summary <br /> 3. Funding and Estimated Expenditures Summary <br /> Page 3 of 3 <br />