FLTF has made significant progress on Sanford and Edenville permitting to the point it is likely Sanford Dam will go to public comment for permitting in May. Edenville may take a little longer, however, FLTF will have a project to upgrade the embankments and add a cutoff wall this year, with a plan for a total restoration bid by the end of this year. The FLTF Webinar from April 26, 2023 provided a detailed status update.
Last week FLTF received the construction bids for Sanford Dam from two out-of-state construction companies, the bids were higher than expected.
FLTF is working with the bidders to understand their offerings and in parallel is looking at alternatives. We have 45 days to accept or reject any or all bids.
Our team is actively reviewing and discussing both options and working hard over the next 45 days to not let the project escalate to the cost illustrated by these bids.
This is occurring at a time of nationwide financial volatility and high interest rates, which underscores the importance of securing a U.S. Army Corps of Engineers loan as that keeps us with a lower interest rate and longer payment terms.
In the interim, FLTF is proceeding with the cutoff wall and embankment work on Edenville Dam utilizing a specialized contractor we're in final negotiations with to complete this work.
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