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THE CITY OF 8 CITY COUNCIL AGENDA REPORT pirAAiTa1 . April 17, 2012 Community Development Traffic Engineering Division TITLE: ACCEPT PUBLIC IMPROVEMENTS PERFORMED BY TIM PAXIN'S PACIFIC EXCAVATION, INC. FOR TRAFFIC SIGNAL INSTALLATION AT THE INTERSECTION OF WEST LAS POSITAS BOULEVARD AND MUIRWOOD DRIVE, CIP NO. 095032, AND INTERSECTION IMPROVEMENTS AT STONERIDGE DRIVE AND STONERIDGE MALL ROAD, CIP NO. 105032 SUMMARY The subject project consists of furnishing and installing all required traffic signal equipment, intersection improvements, traffic signal interconnect equipment, signing and striping, and miscellaneous concrete work including modification of existing curb ramps to comply with ADA requirements. Construction of the subject project is complete and ready for acceptance. RECOMMENDATION 1. Accept improvements for the subject project. 2. Authorize the City Clerk to file a Notice of Completion for the subject project. 3. Authorize payment of the retention in the amount of $43,612.24 to Tim Paxin's Pacific Excavation, Inc. thirty days after recordation of the Notice of Completion. 4. Authorize the transfer of the CIP No. 095032 project balance of $6,471 back into the Measure B fund balance; authorize the transfer of the CIP No. 105032 project balance of$32,272 back into the Measure B fund balance. FINANCIAL STATEMENT There will be a small increase in annual operations and maintenance costs due to the additional signalized intersection in the City. The project was funded through the use of Measure B (1/2 cent sales tax) transportation improvement funds programmed into both Capital Improvement Program (CIP) projects, and Stoneridge Business Center Improvement funds for the Stoneridge Drive and Stoneridge Mall Road project. Staff recommends that the project balances, totalling $38,743, be transferred back into the Measure B fund balance.