A multi-million dollar water project in the town of Hope will be a bit cheaper than expected.

Although initial estimates put the project cost at $2.3 million, the low bid has come in at about $1.8 million. Even including an option that will make it possible to do the work without calling for frequent boil-water advisories, the cost would still be about $2 million, town officials were told this week.

The project would replace and improve many of the town’s water mains, most of which are about 80 years old.

The town and its advisers are scheduled to take part in a pre-loan meeting today and to close on the loan from the state revolving fund in early December. After that, the Town Council can award the bids for the project.