CT2015-003 Increase Approval Letter

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North Poudre Irrigation Company Agenda Item 19a January 25-26, 2016 Board Meeting(Updated January 27, 2016) Page 3 of 5 bids a significantly higher riprap cost overall from the feasibility level cost estimate. Reasons for this include additional quantity due to the high-hazard spillway design as well as an overall rise in materials cost over the last two years due to high local demand and because the local quarry is not currently producing riprap. The third and final construction phase includes moving the reservoir's high water line and flood inundation level off of neighboring property and, where needed, acquiring neighboring property so that the reservoir no longer impacts non-Company owned land. Included with this work is the relocation of the driveway and parking areas onto Company owned land. Negotiations have been successfully completed with all impacted property owners. As the successful bidder for Phase 2, Zak Dirt is entering into a negotiated bid contract for Phase 3. $20,000 has already been spent on regrading the construction entrance and parking area, and the engineer estimates $125,000 will be needed for the remaining grading operations which includes fill on acquired easements, inlet ditch grading, and additional fence work. The updated construction cost is $2,490,000 as shown in Table 2. This represents an overall increase of 38% from the feasibility cost estimate. TABLE 2: UPDATED PROJECT COST Task Cost Estimate Notes Design Engineering $249,000 Completed Phase 1 Construction $228,900 Completed Phase 2 Construction $1,556,000 Contractor's approved bid Phase 3 Construction $145,000 Engineer's estimated construction cost Construction Management $86,000 Engineer's approved contract Contingency $155,600 10%of Phase 2 Easements $69,500 Projected cost Total $2,490,000 Schedule: Phase 1 construction occurred in January 2014. Phase 2 construction began in November 2015 and is scheduled for completion in May 2016. Phase 3 will occur in conjunction with Phase 2 and is also scheduled for completion in May 2016.