Johnson Street Bridge project costs swell to $92.8 million
The estimate to replace the Johnson Street Bridge has swelled from $77 million to $92.8 million.
The price hike is due in part to increased project management and construction costs, according to a report authored by project director Mike Lai.
He will present council with three options on Thursday (March 15).
The first would see the city pay the higher price to have the bridge built as planned. The second would come with a slightly lower price tag, but some of the architectural design features would be sacrificed.
The third option would retain the original $77-million price tag by sacrificing any features necessary to keep the project on budget.
Lai recommends opting for the most expensive option in order to build the bridge people voted for during the borrowing-bylaw referendum.
It can be built, he argues in his staff report, without any additional borrowing, thanks to a higher-than-expected gas-tax grant of $16.5 million, announced earlier this month.
More information to come.