The Richmond Board of Public Works and Safety has approved a bid for the demolition and cleanup of the former Reid Hospital site. The Palladium-Item reports the city has selected Indianapolis-based Renascent Inc., which submitted a bid of just under $3.5 million.
The cost of the project was originally estimated to be more than $8 million. City Controller Beth Fields tells the publication the bid price will cover the demolition and remediation of the site, but additional issues such as construction inspection and insurance will bring the total cost to around $4.5 million.
The city could sign a contract with Renascent later this month. Fields says the city is also working to determine the final amounts of two loans approved by the state to cover the remediation of hazardous materials and demolition of the buildings.
The Palladium-Item says work on the project could begin January 2.