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7.1-02 <br />The low bid of $124,945 is 10.75% lower than the Engineer's Estimate of $140,000. <br />A complete copy of the Agreement is available for review in the City Clerk's Office. <br />Alternatives <br />1. Leave Wellesley Crescent Park circle as it is now, with temporary painted lines and <br />plastic delineators. <br />2. Remove some of the higher cost items from the plans (landscaping, and concrete <br />pavers), which will change the architectural quality of the project. <br />3. Only construct two of the four islands. <br />Fiscal Impacts <br />The original budget of $150,000 for this project was established in 2001 Gas Tax <br />Construction Fund. To date, we have a balance of approximately $130,000 in the <br />budget, for construction. For this size of project, the City needs to reserve <br />approximately $20,000 for both construction administration and contingencies. To this <br />date, the Gas Tax Construction Fund has a $256,900 contingency budget balance. The <br />potential use of $20,000 for this project will leave a contingency account balance of <br />$236,900. <br />Chu Chang Bruce Lledstrand Ed Everett <br />Supervising Civil Engineer Community Development Services Director City Manager <br />CCss <br />s/ library/reports /chu /Award_Wellesley Crescent Landscape <br />-2- <br />