After five years of proposals, promises, delays and setbacks, the Hollis Street bike lane project in downtown Halifax is finally set to begin.

The most recent snag dealt with its cost. The city had budgeted $175,000 for paint, curb upgrades and infrastructure improvements. However, every bid from contractors interested in the work exceeded that amount.

On Monday afternoon, city staff confirmed the contract had been awarded to Dexter Construction, which submitted the lowest bid of $230,900.

The long-promised bike lanes on Hollis Street was delayed after construction companies bid more than what the city had budgeted. (CBC)

Brendan Elliott, a spokesperson for the city, said adjustments will be made to accommodate the lowest bid and keep the tender unchanged.

The Hollis Street bike lane "falls within the same envelope" as three other budgeted projects, Elliott said. The city expects some of those other projects will come in below their budgeted amounts.

It was initially thought that municipal staff would have to rethink the project and consider cutting certain aspects. That would have resulted in further delays to the project, which was first proposed in 2010.

Next week, the contractors will meet with city officials to discuss timelines for the project. If all goes according to schedule, Elliott said the new Hollis Street bike lane should be complete by the end of the summer.