This Tuesday the 26th the City Council will award the award the Cars on K Street construction project to Navajo Pipelines, Inc. for an amount of $1,996,975, whom was the lowest bidder. The project was budgeted for $3,061,200 and will be funded by transportation funds and merged downtown tax increment funds.
As of June 22, 2011, the Cars on K Street Improvements Project had a remaining unobligated balance of $2,302,000 which is sufficient to execute the construction contract. There are no general funds planned or allocated for this project. The approval of this project will support 57 jobs in the City of Sacrament based upon the model provided by the Federal Highway Administration (FHWA) of one new job for every $35,000 of transportation project investments. The projects expected to last 55 days with the return of cars on K by the end of the year.