Pursuant to the authority of Iowa Code section 314.1B, the Director of Transportation has given an advisory notice of adjusted competitive bid and quotation thresholds for public improvement for vertical infrastructure. The adjusted competitive bid and quotation threshold values will become effective January 1, 2023. The last time these were increased was in 2019 when the limit went from $135,000 to $139,000. This round of increases validates a volatile goods and services market.
The vertical infrastructure bid threshold subcommittee, composed of three contractors, three representatives of public entities and the Director’s designee, held a meeting on June 10, 2022, to review competitive bid and quotation thresholds. After review of the construction price index, building cost index and material cost index from the preceding adjustment, the vertical infrastructure bid threshold subcommittee made the following adjustments to the competitive bid and quotation thresholds listed in Iowa Code sections 26.3 and 26.14:
- The competitive bid threshold will be adjusted to $196,000 effective January 1, 2023.
- The competitive quotation threshold for counties, including county hospitals, will be adjusted to $145,000 effective January 1, 2023.
- The competitive quotation threshold for cities having a population of 50,000 or more will be adjusted to $109,000 effective January 1, 2023.
- The competitive quotation threshold for school districts having a population of 50,000 or more will be adjusted to $109,000 effective January 1, 2023.
- The competitive quotation threshold for aviation authorities created within cities having a population of 50,000 or more will be adjusted to $109,000 effective January 1, 2023.
Please email Ben Hammes at bhammes@mbi.build with any questions.
