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THE CITY OF 8 <br /> CITY COUNCIL AGENDA REPORT <br /> pL£ASANTONo <br /> July 17, 2012 <br /> Community Development <br /> Engineering Division <br /> TITLE: ACCEPT PUBLIC IMPROVEMENTS PERFORMED BY O'GRADY PAVING, <br /> INC. FOR THE PAVEMENT REHABILITATION OF VARIOUS CITY <br /> STREETS, FEDERAL AID PROJECT NO. STPL-5101 (025); CIP NO. 105036 <br /> SUMMARY <br /> The project consisted of resurfacing approximately 703,000 square feet of pavement <br /> surface along various city streets. Construction of the project is complete and ready for <br /> acceptance. <br /> RECOMMENDATION <br /> 1. Accept the improvements for the project. <br /> 2. Authorize the City Clerk to file a Notice of Completion for the project. <br /> 3. Authorize payment of the retention in the amount of $63,269.05 to O'Grady Paving, <br /> Inc. thirty days after recordation of the Notice of Completion. <br /> 4. Authorize the transfer of the remaining budgeted funds ($303,968 est.) to the <br /> 2011-2012 Gas Tax Fund Balance after all of the CMA Block Grant Funding <br /> reimbursements have been received. <br /> FINANCIAL STATEMENT <br /> This project was funded by a CMA Block Grant and supplemented by the 2011-2012 <br /> Capital Improvement Program budget. Because Caltrans must review and approve the <br /> City's final invoice for reimbursement, the final reimbursement amount is uncertain. If <br /> the full $876,000 grant is received, there will be a total of $303,968 of gas tax remaining <br /> in the project budget. Staff recommends transferring the balance back to the Gas Tax <br /> Fund Balance. <br />