Rejected bidder cries foul over demolition of Keystone Towers
A New York-based company is upset that the city of Indianapolis did not award it the contract to demolish the vacant Keystone Towers apartment complex even though it submitted the lowest bid.
Titan Wrecking & Environmental LLC of Buffalo submitted a bid of $571,621—more than $255,000 lower than the winning bid of $827,000 from Indianapolis-based Denney Excavating.
Problem is, Titan Wrecking failed to provide necessary information, specifically a financial statement with its paperwork, disqualifying it from the bid process.
But the company’s managing partner, Frank Bodami, contends he later offered to provide a financial statement to the city and was rejected. He further argues that Indiana law allows municipalities to waive such “formalities.”
“I mentioned to [city officials] that it seemed to be a formality, and that $250,000 seemed to be a lot of money for taxpayers,” Bodami said. “But they rejected that.”
Denney Excavating plans to implode the towers within 120 days, the city announced Monday.
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