Repairs to the building envelope at the Preston Idea Exchange will cost $60,000 more than budgeted after all tender submissions came in above estimates.
Staff is recommending council approve the additional costs for the project, which was approved as part of the 2022 Capital Budget, with a budget of $181,800 funded from the city's facility maintenance reserve fund.
A design consultant retained by Idea Exchange prepared architectural drawings based on the original scope and the project was put out to open tender under the Idea Exchanges’ procurement process in September 2022.
The Preston library was extensively renovated in 2001, but the exterior is now showing signs of damage. Improvements to the front entrance were also recommended to meet current accessibility standards.
The plan was to repair or replace aging and damaged exterior building materials, replace single pane windows, replace entrance doors and automatic closers and regrade/replace the front entrance stone walkway to meet current accessibility standards.
A design consultant retained by the Idea Exchange prepared architectural drawings based on the original scope and the project was put out to open tender under the Idea Exchanges’ procurement process in September 2022.
In the meantime, additional funding was obtained through the federal Canada Community Revitalization Fund grant in the amount of $135,000, and a forecast change was approved by council to bring the total budget to $316,800.
Despite the grant covering a majority of the increased scope of the project, three bids were received and all were significantly over budget.
The revised project budget is now $376,800 due to those escalating costs.
The Idea Exchange proposes to fund the variance of $60,000 from the city's facility capital library reserve fund.
