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Page 2 of 2 <br /> <br />construction completion date is November 2022. Staff recommends adoption of Resolution <br />2021-060 as provided in Attachment A. <br />The final plan set and specifications consist of 509 pages. Full copies of these documents are on <br />file and available upon request. <br /> <br />Budget Impact <br /> <br />The total estimated cost of the project is $10,200,000. The City’s cost participation in the project <br />includes an estimated amount of $228,220 for easement acquisition and $732,790 for <br />construction and engineering, for a total amount of $961,010. Staff recommends that the city <br />reserve a five percent contingency in funding estimates due to the complex nature of the project, <br />for a total estimated project cost of $1,010,000. The proposed funding sources are summarized in <br />the following table. <br /> <br />PIR Fund (roadway and signal replacement)206,127$ <br />Special Assessments (new Target Rd signal)196,000 <br />State Bonding Funds (water main replacement)500,000 <br />City Water Utility Fund 66,069 <br />LRIP Grant Funds 41,804 <br />Total Estimated Funding 1,010,000$ <br />Attachments <br /> <br />Attachment A: Resolution 2021-060 <br /> <br /> <br />