Three bids exceed estimate for proposed elevated water tank; council schedules special meeting for financing review

Council reviewed recently received bids for a proposed elevated water tank that will support future municipal water service and fire suppression. The apparent low bid and two higher bids were substantially above the town’s professional estimate; council members requested additional analysis and scheduled a special call meeting to examine funding options and bid qualifications.

Why it matters: The tank is a major capital project that could enable future municipal water connections and improve fire protection. Bids well above the estimate increase the town’s financing and scheduling questions.

Bids and estimate - Bids received (apparent low bid and two others; bids were being qualified by the engineer at the time of the meeting): Caldwell Tanks — $3,383,000 (apparent low bid); Maguire — $3,656,000; Phoenix Fabricators — $3,767,000. - Professional estimator’s prior estimate: $2,500,000. The bids are therefore roughly $800,000 above that earlier estimate.

Council discussion and next steps Councilmembers and staff said the town would not vote on a contract until the bids had been qualified and additional due diligence was completed. Members emphasized the need to identify funding sources for both the tank and the associated water main that would connect it to customers. Staff proposed a special call meeting with representatives from the Water Advisory Committee and the Finance Committee to review options, cost implications and funding strategies.

Outcome No contract was awarded at the meeting. Council agreed to schedule a special call meeting to review bid qualifications, financing options and the potential operating costs of the tank if it were built before a water main extended service to customers.