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Lake Wales staff outline $1.18 million GMP for 1st Street streetscape and $433,798 funding gap
Summary
City staff presented a guaranteed maximum price of $1,183,798.73 for the 1st Street streetscape; a $750,000 HUD grant covers part of the cost and staff proposed using multimodal impact fees to cover the roughly $433,798 shortfall.
City of Lake Wales staff told the commission they have a guaranteed maximum price (GMP) of $1,183,798.73 for the 1st Street streetscape project, with Gomez Construction’s portion of preconstruction, bonds and general conditions totaling about $189,660.
"For the guaranteed maximum price for this project as a whole, it is $1,183,798.73," Dina Drumgo, assistant city manager, said, adding that the city previously secured a $750,000 HUD grant toward the 1st Street section. She said the remaining difference — roughly $433,798.73 — would come from the city’s multimodal impact fees.
Commissioners asked whether other funding sources could cover the gap, including the balance on an $18.5 million bond and other grants. "I was just curious as to how this is the better way to go or the best way to go," one commissioner said.
The City Manager responded that the RAISE grant funds are dedicated to a different, north-of-Orange segment and cannot be used for this section; bond proceeds have largely been directed to engineering to make projects shovel-ready. "This is precisely why the multimodal transportation fee was created," the City Manager said, describing the fee as an appropriate mechanism to supplement projects such as wider sidewalks and trail construction.
Staff said they will notify commissioners of specific groundbreaking locations and dates as details are finalized. No formal vote on contract approval was recorded in the meeting transcript.
