Rehabilitation of the Old Town Water Tower in Altoona, IA, including lead-based paint abatement, exterior coating, access and safety improvements. Sealed proposals due November 10, 2026, at 2:00 PM CST at Altoona City Hall. Work must commence after notice to proceed (expected spring 2027) and be completed by September 30, 2027. Bid security required. Performance, payment, and maintenance bonds required. Liquidated damages of $1,000 per calendar day for late completion. Payments at 97% with 3% retainage. Iowa resident bidder preference applies.
Work must be completed no later than September 30, 2027. The notice to proceed is expected in spring 2027. As stated: work on the improvement must be completed no later than september 30, 2027.
Payments are made based on estimates approved by the engineer. The contractor is compensated for 97% of work completed, with 3% retained. Retainage released 31 days after acceptance. As stated: the contractor will be compensated for 97 of the work completed during a payment period, with the remaining 3 being retained.
The performance bond guarantees maintenance of the improvement for 4 years after acceptance. As stated: shall also guarantee the maintenance of the improvement caused by failures in materials and construction for a period of four 4 years from and after acceptance of the contract.
Bidders must provide bid security as defined in Iowa Code section 26. 8, in the form of a cashier's check, certified check, or bid bond with corporate surety satisfactory to the city. As stated: each bidder shall accompany its bid with bid security as defined in iowa code section 26. 8.
Liquidated damages of $1,000 per calendar day will be assessed for work not fully completed within the designated contract terms. As stated: liquidated damages of one thousand dollars 1, **** per calendar day will be assessed.
Proposals received after the deadline will not be considered and will be returned unopened. As stated: Proposals received after the deadline for submission of bids as stated herein shall not be considered and shall be returned to the late bidder unopened.