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of the $200,000 that would have been contributed <br />by the property owners. <br />Staff then re-evaluated the sales tax revenues, in <br />addition to the bond proceeds and the projected <br />interest on income from the 1$ sales tax that must <br />be deposited in the Combined Capital Improvement <br />Fund, and feel that the City can accomplish the <br />total construction of the South Boulder Road <br />project at this time without the contributions <br />from an SID. It is staff's recommendation these <br />dollars should be going to other capital <br />improvements anticipated, and at the time any <br />development occurs on the adjacent property to <br />South Boulder Road, they be required to reimburse <br />the City on a front foot basis -- much like a <br />recovery project not much different than has <br />occurred in other parts of the City on other <br />projects . <br />Phare explained that on Tuesday, June 13th bids <br />were opened for the South Boulder Road project. A <br />review of the bids indicates that the flexibility <br />to award the project either open to traffic or <br />closed to traffic is available to the City at the <br />same time maintaining the project budget. There <br />is approximately $46,000 cost difference for <br />constructing the project while traffic is <br />maintained versus closing it to traffic. Due to <br />the comments received by the Public Works <br />Department regarding the hardship caused should <br />the road be closed, staff is recommending that the <br />project be constructed while keeping the road <br />open. <br />Staff is recommending Council award the bid for <br />the South Boulder Road project to Concrete Works <br />of Colorado at their low bid for Proposal A <br />including Alternates 1 and 3 in the amount of <br />$570,368.90 with the contingency of acquisition of <br />necessary rights-of-way and resolution of utility <br />relocation schedules as they relate to the <br />project. Staff feels that they will be able to <br />accomplish the acquisition of the necessary <br />rights-of-way and resolution of utility relocation <br />schedules within 30-45 days and won't affect award <br />of the contract (a 90 day project contract). <br />Carnival stated that he feels it <br />imperative to have the sidewalk <br />south side of the South Boulder <br />to the opening of school to ensu <br />journey on this road to the stud <br />absolutely <br />completed on the <br />Road project prior <br />re the safe <br />ents of Centaurus. <br />3 <br />