I attended the Town’s public tender opening this afternoon for the Market Wharf approach replacement. Six bids were received (HST included):
- Caldwell & Ross Ltd. – $9,459,210.00 (lowest)
- Dexter Construction Company Ltd. – $12,137,755.50
- Greystone Infrastructure – $12,295,138.75
- Fundy Contractors Ltd. – $13,454,656.15
- Greenfield Construction – $13,505,370.00
- Valley Structures Ltd. – $17,715,750.00
What stands out
Most bids cluster around $13 million. This cluster is likely the best indicator of the project’s true cost under the current design and scope. The Caldwell & Ross bid is significantly lower than the pack. When a bid comes in well below the cluster, it can signal risk of overages or change orders later. Council should scrutinize scope, schedule, and assumptions carefully. Valley Structures’ $17,715,750 appears to be a conservative upper bound compared to the others, which could reflect more contingency or different assumptions.
The Town’s published total project funding is $7.836 million. Even the lowest bid is over that number, and the cluster around $13 million is about $5 million higher than the funding envelope.
What happens next
On Monday at 6 pm at the WC O’Neill Arena (Dining Room Upstairs), Council will be presented with these results and decide how to proceed. Options include:
- negotiate with the lowest bidder,
- reject all bids and reconsider scope,
- seek additional senior government funding,
- increase municipal borrowing, which would require a new borrowing by-law and provincial approval
This is a pivotal decision for our waterfront and our town finances. Please plan to attend Monday’s Council meeting and stay engaged.