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approval for a loan from the IEPA, and a contract bond and insurance from the Contractor, the <br /> City will issue an approval to proceed with the work. Staff recommends that the City Council <br /> approve a contract with Insituform Technologies USA, LLC, to perform Division B of the Lake <br /> Shore Drive Sewer Rehabilitation Project. <br /> Lake Shore Drive Sewer—Division C: <br /> The results for the letting are as follows: <br /> Compared to Engineer's <br /> Estimate <br /> Bidder Bid Price Over(-Under) <br /> Insituform Technologies USA, LLC $1,923,257.50 (-11.08%) <br /> SAK Construction, LLC $2,156,607.50 (-0.29%) <br /> Michels Corporation $3,158,858.00 46.04% <br /> Hoerr Construction, Inc. $3,300,103.50 52.58% <br /> Engineer's Estimate $2,162,935.00 ---------- <br /> As with Division B, Insituform Technologies USA, LLC, provided the lowest responsible bid for <br /> the proposed Division C. Insituform is a major national contractor located in Chesterfield, <br /> Missouri that specializes in cured in place sewer lining as described in Appendix B. Insituform <br /> has completed many sewer lining projects in the City. BGM has investigated their work record <br /> and has provided a recommendation(attached) stating that Insituform is able to complete the <br /> work as specified. <br /> This project will be completed in accordance with the federal Davis Bacon Wage laws. Upon <br /> approval of the contract by the City Council, the Contractor will receive a "Notice of Intent to <br /> Award." The contract will be forwarded to the IEPA for formal loan approval. Upon receiving <br /> approval for a loan from the IEPA, and a contract bond and insurance from the Contractor,the <br /> City will issue an approval to proceed with the work. Staff recommends that the City Council <br /> approve a contract with Insituform Technologies USA, LLC, to perform Division C of the Lake <br /> Shore Drive Sewer Rehabilitation Project. <br /> Project Funding Through the Water Pollution Control Loan Program <br /> Awarding the Lake Shore Drive Sewer Rehabilitation Project provides the IEPA with real costs <br /> to prepare the final documents that will secure a low interest loan through the Water Pollution <br /> Control Loan Program. The loan rate is expected to be 1.93%payable over a 20 year period <br /> beginning at the conclusion of the project. With the project bids in hand, the total loan request <br /> should be as summarized below: <br /> Page 14 <br />