AgdaPkt 2006-03-13 - Laserfiche WebLink

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6.1F Page 1 REPORT To the Honorable Mayor and City Council From theCi Mana er March 13, 2006 Subject Authorization to Reduce the Retention Funds - Route 101/Ralston Avenue Interchange I mprovements Project Recommendation Authorize the City Manager to reduce the amount of retention monies for the Route 101/Ralston Avenue Interchange Improvements Project, from 5% to 1.25% of the value of work completed to date (currently from $695,683.07 to $173,920.77). Background On August 11, 2003, City Council authorized the award of this construction contract to O.C. Jones and Sons, in the amount of $12,426,983.00. As of the end of December 2005, the project is 95% complete, and paid for, At the time of this report, construction is substantially complete. The project is anticipated to be accepted by the second quarter of 2006. This project is being built in accordance to Caltrans Standard Specifications and Procedures, Parts of the Caltrans Standard Specifications allow the Contractor to request the reduction of the retention for the project from 5% to 1.25% of the remaining work once 95% of construction is complete. The Specifications go further to say that, if the Engineer finds satisfactory progress on the project, he may make this reduction. The City Standard provision does not carry this allowance; therefore, this issue does not present itself very often in City projects. The Contractor has made this request, and staff finds that the project is progressing as planned. The surety of the Contractor has been made aware of this request, and is concurring with the reduction in writing. Therefore, staff is recommending the authorization be given to make this reduction. Alternative The alternative is not to authorize the reduction in retention. The result will be a protest from the Contractor who may potentially file claims. Page 1 of 2 -.--.. -- -",po, _.