Big things are coming to Searcy, Arkansas!
The Searcy City Council has just given approval for the city’s mayor Mat Faulkner to negotiate with contractors for several construction developments across the city. As part of the negotiations, contractors will be required to have a whopping $80,000,000 bond to ensure financial stability.
Big Projects Require Big Financial Backing
The Searcy City Council gave the green light to Mayor Mat Faulkner to negotiate with CDI Contractors for the management of several key developments. These projects include:
- Community Center.
- An Outdoor Water Park
- Ball Fields
The contractors are set to collaborate with local Hart Construction and Polk Stanley Wilcox Architects.
The selection of CDI Contractors came after a rigorous process involving seven potential candidates, narrowed down to four for final presentations. CDI was favored due to their vast experience with large projects, evidenced by their work on landmarks like the U.S. Marshals Museum and their successful collaboration on projects similar in scope.
A critical factor in the selection was the requirement for each firm to be bonded for $80 million, ensuring financial stability and commitment to the project. This bond requirement underscores the scale and importance of the developments for Searcy.
You can read the city’s details about the projects here.
