WKU will be selecting a general contractor for the construction of Parking Structure 3 to be located in the Creason lot after receiving four bids for the position, officials say.

Bryan Russell, chief facilities officer, said WKU already has an idea of which bid it will accept; however, it has not yet been made official.

“We appear to have an awardable bid but are doing our due diligence before a Letter of Intent is issued to the successful General Contractor,” Russell said in an email.

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Russell said the project is expected to cost around $10 million, and the goal is to have it operational by August of 2017. The original plan was to have construction begin in September; however, Russell said the timeline will not be official until the general contractor is selected and provides WKU with a construction schedule.

At the Board of Regents meeting this past July, Russell showed a rendering of the six-floor parking structure that will be similar to Parking Structure 2.

Construction on PS3, as well as construction on the Adams Street lot where construction is already underway for a new CVS Pharmacy, has reduced the number of available parking spots on campus. As a result, Parking and Transportation Services decided to limit the number of housing permit sales sold for the 2016-2017 school year.

In a press release earlier this May, Parking and Transportation said once construction is completed the campus will have an additional 500 parking spots. The spots will be available for both commuters and students who live on campus. Parking and Transportation will also expand transit services to provide transportation to and from PS3.

Ann Mead, vice president for finance and administration, said the project will be paid for by students with a $30 fee. Mead said the fee is not expected to be in place after the cost of the parking structure is covered.

“By action of the Board of Regents, the fee goes away when the debt is paid off,” Mead said.

Mead said it normally takes 20 years to pay back the money for a project of this size, although WKU has yet to issue any bonds.

Reporter Emma Collins can be reached at 270-745-6011 and [email protected]. Follow her on Twitter at @thebest_dilemma.