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Staff seeks $403.6M to bridge funding gap for $489M flood‑protection mega‑bundle
Summary
City engineers presented a $488.97M guaranteed maximum price (GMP) for a seven‑project flood‑protection bundle and outlined a funding plan that would transfer existing appropriations, use bond capacity and authorize public facility revenue bonds to cover a $403.6M gap; staff scheduled a required public hearing and said construction could begin in 2026 if council approves appropriation.
City staff sought council direction to appropriate funds so the city can execute a design‑build contract for a seven‑project flood‑protection “mega bundle” covering Windsor Woods, Princess Anne Plaza and the Lakes.
City Engineer Toni Utterback described why the multi‑project bundle is needed—low elevations, legacy drainage infrastructure and increasing storm severity—and laid out the structural elements: tide gates, large pump stations and flood barriers. Utterback presented the design‑builder’s guaranteed maximum price (GMP) of $488,970,000 for the bundled scope and said the owner’s independent cost estimator…
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