On Monday, Grand Junction officials associated with the Riverside Parkway Project gave city council members an update on where the project stands and there was both good news and bad news.
Public Works and Utilities Director Mark Relph told council members that the massive project will be done by the projected 2008 deadline, but a rise in construction costs will put the project into a $10M shortfall, although $5M of that will be taken care of by a contingency fund set up within the project's budget.
With the shortfall, the city has several options to adjust, which include shaving some of the aesthetic aspects of the projects and while city leaders could tap into the capital budget for the funds, that would delay other city capital projects.
Relph also announced the bid for phase two, the largest component of the project, came in at just over $31M, slightly below what parks and utilities officials were expecting.
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