The City of Southgate will spend more than expected to fix the parking lot at the Community Center at 301 Walnut St.
At its Aug. 19 meeting, City Council accepted a bid from Riegler Blacktop of Florence for $231,414.20. City Engineer Jim Shumate said the project called for reconstructing the back half of the lot, resealing the front half and doing some work on the curbs.
A 15% contingency fund for unexpected expenses totaling $34,712.13 was added, bringing the total project cost to $266,126.33. That’s a little less than $13,000 the city had anticipated.
“I doubt that we’ll be using much of that contingency, but you never know,” Mayor Jim Hamberg said.
Hamberg said the cost could be added to a nearly $1.48 million bond issue for various street projects.
Shumate said last month the estimate includes about $195,000 for the repairs plus another 30% contingency fee (which calculates to nearly $58,000) for any unanticipated cost overruns.
Hamberg said the city would receive $69,500 from Sanitation District No. 1 for some storm sewer inlets and outlets the city installed, could take another $70,000 for engineering expenses from last fiscal year’s budget, and could draw from city reserve funds.
Tax information from the Campbell County Property Valuation Administration and Northern Kentucky Area Development District should be available by the Sept. 2 council meeting, Hamberg said.
“I’m hoping the valuation will offset part of this, especially since the city was assessed this past year,” Hamberg said. “… I think right now we’ve got enough reserves to cover it. And if we have to get a TAN (tax anticipation note), that’s what we’ll do.”
