WICHITA, Kan. (KSNW) – The City of Wichita has to have a final price to the federal government for financing this week.
Wichita Water Partners announced the final price is $14 million below the October 11 estimate. Final cost to design and build will be $494.2 million.
“The city is really no longer responsible for any cost inflation associated with the project,” said Wichita Water partners lead Ron Coker, Burns & McDonnell. “That becomes our risk. So the city can really depend on a project that is $494 million and move it forward.”
Some of the savings are from using existing water transmission lines that are considered in very good condition.
Some city council members have been counting on the project price coming down.
“So, we’ve been having those discussions, and they are ongoing,” said Wichita City Council member Bryan Frye. “That’s the idea behind this design/build to find ways to value engineer and continue to lower that price so we get a better deal for ratepayers.”
Wichita has until Thursday to get the city application in for WIFIA federal finance. That will finance roughly half of the project.
With a final price, the city has the information it needs to put the finishing touches on the application for finance.
KSN will check back on Wednesday to see if the city will get the application in for WIFIA.
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