Award of Contract – 8459Q – Supply and Delivery of Municipal Castings

Contract Term The RFQ requested bidders to submit proposed fixed pricing for the initial first year of the contract. Bidders were also advised that the contract could be extended by four additional one- year tenns for a maximum five-year contract term upon mutual consent of both parties. The total estimated value of the contract over the maximum five-year term is estimated at $1,396,587 as summarized in Table 2 below. Anticipated costs after the initial one-year tenn of the contract reflect estimated annual adjustments to the supplier's price which are broadly in line with consumer price indices. The estimated annual adjustments do not take into consideration the potential impact of tariffs and other economic factors on metal prices, which cannot be determined at this point of time. A 5% contingency is to be included to allow for pricing adjustments above and beyond expected annual consumer price index (CPI) increases. Table 2: Total Five-Year Term Contract ( exclusive of taxes 2 Year 1 Year2 Year3 Year4 Year5 Total Annual Contract $254,083 $260,000 $266,000 $272,000 $278,000 $1,330,083 Contingency $12,704 $13,000 $13,300 $13,600 $13,900 $66,504 TOTAL $266,787 $273,000 $279,300 $285,600 $291,900 $1,396,587 Contract 8459Q will be funded through applicable capital, receivable, and operating budgets on an as required basis. The total value of this contract over the initial one-year term is estimated at

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