ACTION REQUESTED:
Title
Communication from the City Manager and Director of Public Works with a Request to REINSTATE the CAPITAL BUDGET for Fiscal Year 2020 for the SHERIDAN ROAD RECONSTRUCTION PROJECT, in the Amount of $4,000,000.00. (Council District 2)
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BACKGROUND: The Peoria City Council approved several prior phases of improvements on Sheridan Road in 2016, 2017 and 2019. In February of 2020, City Council approved a contract with Illinois Civil Contractors, Inc. (ICCI) for the reconstruction of Sheridan Road from W. Eleanor Place to W. Richmond Avenue, the final phase of improvements on Sheridan Road. Work was scheduled to begin in April of this year, unfortunately due to COVID - 19, the project was placed on hold while the City evaluated the impact of the pandemic.
At the April 14, 2020 Council meeting, $26.7 M of the previously approved Capital projects were approved for reduction by Council in an effort combat the revenue losses due to the pandemic. Funds for the Sheridan Road Reconstruction project were part of this reduction; accordingly, it has been on hold while the City recovers. As part of the reductions, the Sheridan Road Reconstruction project budgeted in the 2020 Capital Budget was reduced from $4,190,000 to $190,000. Recognizing the difficult financial position of the City, ICCI has requested to begin work as soon as possible with payment being deferred until January of 2021. Doing this will allow most of the work to be completed this year with minimal cost to the City during 2020. The City's expected costs for 2020 would be for the Phase 3 Engineering ($316,625.00) and the Contractors Mobilization costs per the contract that was approved in February ($210,000) for a total of $526,625.00. As $190,000 has remained in the budget, an additional $4,000,000.00 will need to be reinstated to meet the project costs. The remaining $3,918,600.93 would be paid in January of 2021.
ICCI is a local business that has successfully performed wo...
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