Rising cost of construction materials sending Metral Dr. upgrades over budget
NANAIMO — An increase in key elements to ongoing Metral Dr. upgrades is contributing to a $1.4 million bump in the budget for the project’s second phase.
City staff went before Council’s finance and audit committee on Wednesday, July 20, asking to increase funds allocated to phase two of complete street upgrades to Metral Dr., from $7.1 million to $8.5 million.
Laura Mercer, City director of financial services, told councillors phase one came in around $1.1 million under budget, meaning much of the increase is covered.
“We didn’t carry forward that money specifically for phase two, but whatever money was unspent remained in the reserve and that money can be used to fund the shortfall for phase two.”