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Gr � 1 C-2 . <br /> Alternatives <br /> The alternative is to delay acceptance to address any concems of the City Council. <br /> If City Council accepts this project, staff will move forward to close out the project. The <br /> material and performance bonds will be reduced as appropriate, and the retention <br /> monies will be paid to the Contractor after the 45 days for the filing of the Notice of <br /> Completion, and assuring that there are no unpaid claims against the contract. <br /> Fiscal Impacts <br /> A Fund balance in the amount of $57,512.00 remains in the FY 2003-2004 Capital <br /> Improvement Program budget under the Capital Project Funds, for this project. <br /> Progress payments have been made to the Contractor, leaving a balance of only 10% <br /> ($12,000) retention due to him. <br /> 4 <br /> S. Pe r Vorametsanti o Patterson Ed Everett <br /> S' Civil Engineer ommunity Development Senrices Director City Manager <br /> SPV:SS <br /> SAibrary/reponsJAccept Fuel Tank Rerrwva! and Moniioring Project <br /> Page 2 of 2 <br />