Coronation Council held a special meeting on November 4, 2013 to discuss costs regarding servicing Phase I of the light industrial subdivision south of Railway Avenue. Three phases of construction are planned.
Tenders were invited to quote for construction costs, and one tender was received from M. Pidherney’s Trucking Ltd. An engineer’s evaluation of Phase I cost of construction was $502,612. The Pidherney’s bid was $563,412.
Meeting minutes indicate that motion was passed for M. Pidherney’s Trucking Ltd. to be awarded the contract as per tender submitted.
It was suggested that additional costs for building and servicing of the subdivision would be temporarily funded through capital reserves. Breakdown was as such:
Roads Capital Reserve: $102,000
Water Capital Reserve: $327,792.95
Sewer Lagoon Capital Reserve: $132,511.45
Land Purchase/Development Reserve: $30,000
General Contingency Reserve: $92,060.12
Motion to draw from these reserves to fund the project was carried. It was also noted that reserves will be replenished over the following four years from the available MSI Capital Funds.
It was discussed that the Town of Coronation had contracted ISL Engineering and Land Servces to plan the Light Industrial Subdivision at Phases I, II and III. Minutes indicate that motion passed to accept ISL Engineering’s submitted proposal for supply of construction engineering services for the estimated cost of $37,092.