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26 FINANCIAL DISCUSSION <br />27 Staff received four bids for this project. The low bid submitted by Park Construction Company, <br />28 in the amount of $2,312,776.03, is 2.8% higher than the engineer's construction estimate of <br />29 $2,249,711.50. Bids were slightly higher than anticipated for bituminous paving, watermain <br />3o replacement, and storm sewer utility work. The increased costs will be funded from Roseville <br />31 and Falcon Heights MSA funds, the Street Infrastructure Fund, and Water and Stormwater Utility <br />32 enterprise funds. <br />33 This project is proposed to be paid for using approximately $395,000 of Municipal State Aid <br />34 funds, approximately $914,000 from the Street Infrastructure Fund, approximately $290,500 <br />35 from the City of Falcon Heights, approximately $581,000 from the Water/Sanitary Sewer Utility <br />36 funds, and approximately $131,500 from the Street Infrastructure fund. <br />37 This project is proposed to be completed by September of 2015 <br />38 STAFF RECOMMENDATION <br />39 Staff recommends approval of a resolution awarding bid forthe 2015 Pavement Management Project <br />40 in the amount of $2,312,776.03 to Park Construction Company of Minneapolis, Minnesota. <br />41 REQUESTED COUNCIL ACTION <br />42 Approve resolution awarding bid for the 2015 Pavement Management Project in the amount of <br />43 $2,312,776.03 to Park Construction Company of Minneapolis, Minnesota <br />44 Prepared by: Marc Culver, City Engineer <br />Attachments: A: Resolution <br />B: Map of 2015 PMP Area <br />Page 2 of 2 <br />