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STATUS OF ISSUE: Bid Analysis is attached for detailed information about the bid. Wheeler Construction - $326,338.10 Drake Companies, LLC - $326,605.51 Richard Drake Construction - $355,809.10 The project is located on 7th Street SW from Loop 286 south to the CEFCO second entrance. This will be a full depth concrete replacement project and is a 50/50 share with CEFCO South. The share of each partner is anticipated to be $168,616.55 for the project. Fikes Wholesale has agreed to pay 50%, which will vary a small amount based on final project payments (which aren't always exactly the same as bid amount, since payments are normally based on unit bid items which could increase or decrease by minor amounts during construction), and final 3`d party inspection/testing services during construction. Project Timeline: Assuming approval by the council, the Contracts will be entered into with Wheeler Construction in the next week, and construction will start in Early August. Construction will take 35 calendar days, so that the work is completed by mid to late September. The FY24/25 Budget has $2.5 million set aside for the Mill & Overlay project and this project. The city's share will come from this account. This is remaining funding from the 2017 and 2018 GO Bonds. Design was performed by City Engineering Staff using existing salaries. OPTIONS 1. Grant approval for the City Manager to enter into a contract with Wheeler Construction for the reconstruction of 7th Street SW into a concrete roadway. 2. Deny approval for the City Manager to enter into a contract with Wheeler Construction for the reconstruction of 7th Street SW into a concrete roadway. 3. Reject all bids and request re -advertisement of project. 4. Request additional information regarding this issue and bring forth to a future meeting of the city council. RECOMMENDATION: 1. Grant approval for the City Manager to enter into a contract with Wheeler Construction for the reconstruction of 7"' Street SW into a concrete roadway.