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City says Lower Peninsula stormwater project near completion; $20 million in bond proceeds remain unused
Summary
Staff told council the nearly finished Lower Peninsula stormwater and park project cost about $59 million with large grant support and is expected to close under budget; councilors pressed staff on why roughly $20.9 million in bond proceeds remain available and how the funds will be used.
City staff reported that the Lower Peninsula stormwater capital improvement project is in final closeout and has delivered new conveyance, pipe upsizes, a stormwater pond and park improvements — work staff said will reduce flooding and improve water quality for the neighborhood.
The project’s budget, schedule and funding mix drew praise and questions: staff described a roughly $59 million total program cost, a $55 million guaranteed‑maximum price for construction, and what they said was approximately $37.5 million in state and regional grant awards. Staff said design and construction proceeded through the pandemic with limited schedule slip and that the project is expected to be delivered under budget.
Why it matters: the project replaced aging…
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