TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: A Resolution of the City Commission of the City of North Port, Florida, as the Governing Body of the North Port Road and Drainage District, Amending the North Port Road and Drainage District Budget for Fiscal Year 2024-2025 for Additional Funding for Price Widening Phase I Project R15PW1 in the Amount of $4,302,241; Providing for Findings; Providing for Posting; Providing for Conflicts; Providing for Severability; and Providing an Effective Date.
Recommended Action
Approve Resolution No. 2025-R-16.
Background Information
The following provides a chronological order of events regarding the Price Boulevard Widening Project:
Ø Final plans for the Price Boulevard Widening Project include the following essential improvements to approximately 2.8 miles of this major east-west arterial roadway:
ü Two travel lanes in each direction.
ü A continuous bi-directional turn lane down the center.
ü 10-foot-wide concrete multi-use paths will be provided on both sides.
ü The existing roadside swales will be replaced with a closed curb and gutter drainage system.
ü Improvements to the Utilities system within the project footprint.
Ø Prior to advertising the bid, the Engineer on Record provided an estimate of $74,944,376.47 for the project including utilities components.
Ø RFB 2024-28 for the Price Boulevard Widening Project was developed with bid alternatives to allow analysis of cost for the full project with the following options:
ü Stamped concrete center turn lane.
ü Stamped asphalt center turn lane.
ü Standard asphalt pavement center turn lane.
ü An option to install a walkway to temporary mailboxes.
ü An option to expedite utilities work.
Ø RFB 2024-28 was advertised on September 3, 2024, with an initial due date of November 5, 2024, however this deadline was extended to December 4, 2024, to allow additional time for contractors to complete bid documentation due to Hurricanes Helene and Milton.
Ø October 23, 2024: The City closed on bonds for the Price Boulevard Widening Project. The City’s Aa2 bond rating and low debt position generated significant interest in this competitive financing opportunity. The Finance Department secured an excellent rate for the residents of North Port through this process. The bonds were competitively awarded to Jefferies, LLC, which submitted the lowest bid, achieving a True Interest Cost (TIC) of 3.306908%. While the referendum authorized borrowing up to $80M, the bonds were issued at $53.835M based on the available surtax revenues required for repayment. The bonds were issued at a premium, which provided $55M in funding for the estimated $75M project. The additional $20M was identified through grant funding, remaining project budget and reprioritizing other Public Works and Utilities projects.
While representatives from over a dozen companies attended the mandatory Pre-Bid Meeting for the Price Boulevard Widening Project, the City only received one bid on December 4, 2024. This solo bid received was from Watson Civil. The lowest possible project cost from this bid requires installation of the standard asphalt center lane option and removes bid alternatives to install walkways to mailboxes and to expedite utilities work. With these options the bid comes to $81,731,865.73, which is $6,787,488.26 over the Engineer of Record’s estimate for the full project, without including projected contingency expenses. The City received information from other contractors that high demand for contractor services following the impacts of Hurricanes Helene and Milton curtailed their ability to allocate construction resources for the Price Boulevard Widening Project.
Following the City’s Purchasing Policies, the City engaged in conversations with representatives from Watson Civil to discuss the bid received and identify cost reduction opportunities. Watson Civil provided a revised bid on January 22, 2025, of $79,283,010.35. Utilizing a Florida Department of Transportation (FDOT) standard of 5% for contingency, the revised project total is $83,247,160.87. CIP R15W1 - Price Boulevard Widening’s current available funding, including bond funds and $1.5M grant from FDOT is $66,144,208.68, leaving a funding gap of $17,102,952.19.
From the Road and Drainage District funds, staff is requesting to transfer all funds remaining in the following projects to Price Widening Phase I:
ü Rehabilitation of Pedestrian Bridges R23PBR ($161,200)
ü Sidewalk and Pedestrian Bridge R24SWC ($77,000)
ü Sidewalk and Pedestrian Bridge R25SWC ($104,040)
ü West Price Boulevard Sidewalk Segment R25WPB ($40,000)
These funds will be used for sidewalk and pedestrian crossings in the Price Widening Phase I R15PW1 project and the previous projects will be closed.
The following Water Control Structure Projects will be reduced by the amounts listed and staff will seek grant funding for construction:
ü Water Control Structure 114 R21S14 ($1,000,001)
ü Water Control Structure FW158 R24S58 ($710,000)
ü Water Control Structure FW157 R23S57 ($710,000)
A total of $2,420,001 will be added to Price Widening Phase I R15PW1 from these reductions.
Lastly, staff would like to transfer $1,500,000 from Public Facility Phase II R20FAC into Price Widening Phase I R15PW1. This funding will be returned to the original project if FDOT allows staff to transfer the grant included in current available funding for Price Widening to be used for the Construction, Engineering and Inspection (CEI) portion of this project.
Please note, the Ponce De Leon Multi-Use Path project R22SPD is included on the attached funding memo, but the $136,376 transfer request within the Road and Drainage District fund was already completed by a budget transfer request from Public Works and does not need to be included in this budget amendment.
Resolution No. 2025-R-16 has been reviewed by the Interim City Attorney and is legally correct as to form.
Strategic Plan
Efficient and Effective Government
Financial Impact
Ø $4,302,241 will be added to the funding for Price Widening Phase I R15PW1 from the following projects:
ü Rehabilitation of Pedestrian Bridges R23PBR ($161,200)
ü Sidewalk and Pedestrian Bridge R24SWC ($77,000)
ü Sidewalk and Pedestrian Bridge R25SWC ($104,040)
ü West Price Boulevard Sidewalk Segment R25WPB ($40,000)
ü Water Control Structure 114 R21S14 ($1,000,001)
ü Water Control Structure FW158 R24S58 ($710,000)
ü Water Control Structure FW157 R23S57 ($710,000)
ü Public Facility Phase II R20FAC ($1,500,000)
Procurement
Not applicable.
Attachments:
1. Resolution No. 2025-R-16
2. Road and Drainage Fund Balance Report
3. CIP
4. Memo re: funding of Price Widening January 28, 2025
Prepared by: Lisa Herrmann, Budget Administrator
Department Director: Kim Williams, Finance Director