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. _ I <br /> Pa e 2 I <br /> g <br /> One bid was received for this project and is well over the engineer's estimate. Subsequent <br /> discussions with project estimators fQr the Illinois Department of Transportation have led staff to � <br /> determine that the engineer's estimate for this project is low and that the bid received is , <br /> reasonable for the work required. ,, <br /> It is likely that a rebid of this project,with an equal or reduced scope of work, will yield the same I, <br /> or very similar results as far as unit prices. Staff recommends that this project be allowed to I <br /> proceed forward to enable the necessary street repairs to be made. �� <br /> The additional cost for this project will be offset with the funding set aside for other capital I'�, <br /> projects that are not able to proceed this construction season. I <br /> POTENTIAL OBJECTION: There are no known objections to this resolution ��I <br /> and bid award. '�� <br /> INPUT FROM OTHER SOURCES: None <br /> STAFF REFERENCE: Matt Newell, City Engineer, at 424-2747 <br /> BUDGET/TIME IMPLICATIONS: <br /> Funding for this project will come from the City's Capital Improvement Fund at $150,000. The <br /> recommended low bid amount is $220,959.00. <br /> The project is scheduled to begin July 2001 and should be completed within 2 months. <br /> attach: 2 <br /> cc: John Smith, Assistant City Manager of Public Services <br /> Otto Baum Company, Inc. <br />