AgdaPkt 2005-02-28 - Laserfiche WebLink

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(¡,,/.c-( REPORT February 28, 2005 Subject Authorization to increase construction contract change order value from 10% to 15% for the Route 1 01/Ralston Avenue Interchange Improvements Project (from $1,243,000 to $1,864,500). Recommendation Authorize the City Manager to execute Contract Change Orders to add contract value for the Route 101/Ralston Avenue Interchange Improvements Project, from 10% to 15% of the original contract value. Background On August 11, 2003, this Council authorized the award of this construction contract to O.C. Jones and Sons, in the amount of $12,426,983.00, and authorized the City Manager to execute Contract Change Orders (CCO) that would not exceed the original contract amount by 10%. This project is funded by three major funding sources and does not draw on the City's General Fund. The funding sources are: Fundinq Sources Amou nt Shores Transportation Improvement District (STID), including pre- payment from Oracle and interest earninas. $10,400,000.00 State Transportation Improvement Proqram (STIP) 7,600,000.00 Development related fees collected by the City of Belmont, includinq interest earnings. 400,000.00 TOTAL $18,400,000.00 This contract was awarded for $12,426,983.00. and the Engineer's Estimate for this contract was $13,446,000. If all of the additional 5% requested is spent, the project would be only six percent over the original Engineer's Estimate. As of the end of January 2005, the project is 52% complete and paid for. Work on the project is progressing as anticipated. The majority of underground utility work, civil work (constructing or reconstructing roadways), and electrical work are complete. At this time, the major construction task is building the Island Parkway Bridge, which will carry Page 1 of 3