(Spencer)– The Spencer City Council Monday evening approved a bid for an infrastructure project in the area of the North Y. The city’s engineer reported the low bid of a little more than $4.3 million from DeLoss Construction of Spencer, was under the estimate of $4.9 million…
“We’re under our projections. You know when we first started this project more than a year ago talking about it, so we’re happy about that, too. And I think you’ve got a good crew lined up if we have favorable weather. We’ve given them all summer to complete division one. So division one is basically everything within the subdivision itself. Division two is the lift station, the force main and the trunk water main. And this, if you recall, we’re building a lift station on the south end of this project.”
Plans call for sanitary sewer and water main construction to be completed by May 1st. Street paving will also be part of the project.
Brian Weuve, the city’s Finance Director, says the project will be funded through bonds…
“Our intention will be, starting in April, we’ll start bond proceedings. This will all be payable through tax increment financing using existing valuations through the city’s TIF districts, so that will be the main financing source for all of this.”
One business has already come forward with plans to locate in the new development. Kwik Star plans to build a convenience store at the North Y.
