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05-27-2008 CC Rpt A10 COUNCIL AGENDA STAFF REPORT CITY CLERK USE ONLY 4 ,--- 1^ - • ,- ;: Meeting Date: May 27, 2008 ---- - - Public Hearing: 0 L''_,) -rwc.."..." Discussion Item: 0 Consent Item: May 20, 2008 TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS FROM: CITY MANAGER SUBJECT: REDUCTION IN RETENTION FOR AGREEMENT NO. A06-70 WITH ALL AMERICAN ASPHALT FOR CONSTRUCTION OF BID PACKAGES 3 AND 4 - GOVERNMENT CENTER SITE WORK AND INFRASTRUCTURE PROJECT RECOMMENDATION: Reduce retention for Agreement No. A06-70 with All American Asphalt from ten percent (10%) to five percent (5%) for Construction of Bid Packages 3 and 4 - Government Center Site Work and Infrastructure Project. BACKGROUND/ANALYSIS: On September 12, 2006, the Council awarded a contract to All American Asphalt related to Government Center Site Work and Infrastructure in the amount of$1,243,421. The Council subsequently approved two change orders, amending the contract to $1,301,365.50. All American Asphalt is largely complete with their work. In accordance with the terms of their contract, the contractor requested a reduction in retention from 10% to 5% as more than half of their contract work is complete. Staff is recommending that the Council approve the requested reduction in retention. REVIEW BY OTHERS: This agenda item has been reviewed by the Finance Director. FISCAL IMPACT: There is no fiscal impact to this action. Retention funds are already on account. R Is ectfully submitted, Recommended by: 4. kg at --)-7 , 'eXiA ---d..,,,,,,,, ,,, -4fsLc) Ro. .. .,s N. La Belle, City Manager Raynidnd T. Holland, Interim City Engineer RH/AD/ps l'i/O