An asphalt overlay project is completed each year as part of the Street Improvements Program. The 2017 project will include 42 miles of streets in various locations. The two bids are:
Superior Bowen Asphalt Co. $5,559,488.25
J.M. Fahey Const. Co. $6,063.726.55
Superior Bowen Asphalt has successfully completed other street overlay contracts for the City. Their bid is recommended for the contract award. The engineer's estimate for the construction cost is $5,543,640.42. The ordinance authorizes the City Manager to approve minor change orders not to exceed $250,000.00 and/or time extensions. The contract time provided in this contract is 120 working days. The City's Management Analyst has reviewed the project bids and has provided the attached memo.
Most of the needed project appropriations have been made. Since the project crosses two fiscal years, a portion of the funding for this project is anticipated to be collected and budgeted in fiscal year 2017-18. The ordinance would transfer $250,000.00 of Street Sales Tax funds from the 2016 Street Improvements Program (No. 70111601) to the 2017 Street Improvements Program (No. 70111701) and would authorize the Finance Director to obtain short- term financing or reallocate available balances from existing projects if necessary to manage the fund cash flow. This is consistent with how funding for the asphalt overlay project has been handled in previous years.