At a savings of more than $1 million, the Rolling Meadows City Council on Tuesday approved $1.2 million in bids from Pickus Construction and Equipment Co., Waukegan, for site improvements for the new 3Com Corp. Midwest regional headquarters.
As part of a financial incentive package to 3Com last October, the city issued $2.5 million in bonds to fund improvements to the 40-acre site on Golf Road. The improvements included a ring road around the development and water, sanitary sewer and storm water system work.
After project bids were opened last week, the city discovered it will have to spend slightly less than $2 million for the project, rather than the $3 million estimated by the city’s engineer.
As a result, the city won’t have to take out a $600,000 state loan to help pay for the improvements. The city also will be able to pocket 3Com’s estimated $500,000 in water and sewer tap-on fees, which would have been used to pay back the state loan.
The savings resulted from the city no longer needing to build a sewer line along Golf Road, said City Manager William Barlow.
