It will cost more than $2 million to rehabilitate a residential street in Hope.
The Yale Street Rehabilitation Project came back to council on May 9 so they could approve an increase in costs for the project by amending the already-passed budget for 2022.
The project went out to tender following the approval of the 2022 budget, but the three bids that came back to them were $200,000 more than budgeted for.
District staff said the increase in cost comes down to inflation for some of the materials required for the expansive project, which will see Yale Street realigned and completely enhanced with a multi-use pathway and sidewalks.
The materials that have increased include storm and sanitary PVC piping, manholes and asphalt, staff noted.
The Yale Street project “prioritizes active transportation” with the use of a three-metre multi-use pathway, curb extensions to promote traffic calming, and a parking lane on the west side of the road.
According to reports from the district, the improvements will also include full depth reclamation of existing road structure, additional road structure to widen the corridor to include 3.5m lanes, a 2.4m parking lane, curb and gutter, 2m raised concrete sidewalk and boulevard and driveway restoration.
It will also include intersection improvements, curb extension installation at intersections, stormwater management improvements, water system replacement and sanitary system replacement.
To make room in the budget, the district will transfer $200,000 from the Gas Tax Reserve and $26,041 from a developer contribution that originated from the creation of a subdivision on the street.
They will also increase the water capital budget by $15,000 through an additional transfer from the Water Reserve, and increase the sewer capital budget by $185,000 through an additional transfer from the Sewer Reserve.
The three bids that came back were from Jakes Construction Ltd. for $2,207,500, Marex Constructors Ltd. for $2,224,711, and Lil Bear Contracting Corp. for $2,386,090.10.
District CAO John Fortoloczky said the $226,041 is to cover a construction shortfall of $79,780 and includes a contingency of 146,261 for current and future engineering costs associated with the project.
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