Real Estate & Construction  October 7, 2009

Centerra to retain $2.5 million from 25/34 interchange project

LOVELAND – Aesthetic changes at the Interstate 25/U.S. Highway 34 interchange will be delayed, allowing $2.5 million set aside for the project to be used for other projects in the Centerra development.

The Loveland City Council voted 7-2 Tuesday night to allow the Centerra Metro District to retain $2.5 million of the $11.51 million set aside for safety and aesthetic improvements at the interchange. The safety improvements will go forward as planned, with limited landscaping improvements. The $2.5 million will be used for future district-approved projects. There are no specific plans for the funds now, so they will sit in a city-controlled escrow account. Any projects proposed for the funds would have to be approved by the Loveland City Council.

Last month, Denver-based New Design Construction was identified as the lowest bidder for the safety improvements, which include removal of two exit loop ramps, widening other ramps, traffic signals, acceleration lanes and basic landscaping. The total cost, according to the bid, will be $8.75 million.

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The request for proposals asked that bidders include the costs of the safety improvements as well as different tiers of the aesthetic improvements. The tiers included:

  • Base improvements — construction of retaining walls, monument bases and the foundations for the arches on the existing bridge;
  • Hardscape improvements — Addition of stone veneer to the retaining walls, construction of the monuments, the addition of decorative arches and an upgraded bridge rail;
  • Final landscape — planting of trees, shrubs and flowers and an irrigation system.

The cost to complete all the safety improvements plus all of the aesthetic improvements would have been more than $12 million. Jay Hardy, general manager of Centerra, said that not all of the aesthetic improvements are being delayed. About $300,000 will go toward trees, signage, a concrete coating on the base structure and painting.

In a cover letter, city staff noted that all aesthetic improvements could be completed in the future.

“Nothing we are doing now would prohibit us from completing the future phases,” Hardy said. “Right now, we don’t think it’s prudent to spend the last penny of the district funds on planting flowers.”

He also pointed out that the legal obligation for the Centerra Metro District is to complete the safety enhancements but that the intention is to eventually complete all of the aesthetic upgrades as well.

LOVELAND – Aesthetic changes at the Interstate 25/U.S. Highway 34 interchange will be delayed, allowing $2.5 million set aside for the project to be used for other projects in the Centerra development.

The Loveland City Council voted 7-2 Tuesday night to allow the Centerra Metro District to retain $2.5 million of the $11.51 million set aside for safety and aesthetic improvements at the interchange. The safety improvements will go forward as planned, with limited landscaping improvements. The $2.5 million will be used for future district-approved projects. There are no specific plans for the funds now, so they will sit in a…

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