EDA authorizes $113,850 demolition contract for High Street property, cites procurement savings

The Portsmouth Economic Development Authority voted to authorize execution of a demolition contract for properties that include 1028 High Street after procurement reported seven bids and an apparent low bid of $113,850.

During the discussion staff recommended amending the budget if necessary and asked the chair be authorized to execute the contract for that amount. A commissioner moved the action; it was seconded and approved in a recorded vote of 6–0. Staff told the board the procurement exercise saved an estimated $179,000 compared with a prior $344,000 proposal, citing competitive bidding as the reason for the lower price.

Procurement staff said the notice of intent to award has been sent and work will proceed once the contractor obtains required permits and insurance. Commissioners thanked staff for the procurement process and noted the value of competition in reducing costs.

Next steps: staff will follow up with procurement to complete contract execution and to bring any required budget amendments back to the board for formal ratification if needed.