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i THE CITY OF CITY COUNCIL AGENDA REPORT ILEASANTONO March 18, 2014 Community Development Engineering Division TITLE: ACCEPT PUBLIC IMPROVEMENTS PERFORMED BY GHILOTTI CONSTRUCTION, INC. FOR THE STONERIDGE DRIVE AND VINEYARD AVENUE OVERLAY PROJECT, CIP NO. 125024 SUMMARY The subject project consisted of resurfacing approximately 528,000 square feet of pavement surface on Stoneridge Drive with noise attenuating pavement by utilizing Rubberized Hot Mix Asphalt (RHMA) and 150,000 square feet of pavement surface on Vineyard Avenue with the conventional Hot Mix Asphalt (HMA). City Council awarded this construction contract to Ghilotti Construction, Inc. on June 18, 2013. Construction of the project is complete and ready for City Council acceptance. RECOMMENDATION 1. Accept the project as complete. 2. Authorize the City Clerk to file a Notice of Completion for the project. 3. Authorize payment of the retention in the amount of $49,429.43 to Ghilotti Construction, Inc. thirty days after the recordation of the Notice of Completion. 4. Authorize the transfer of the project unspent balance in the amount of$153,640 to the Street Capital Improvement Program (CIP)fund balance. FINANCIAL STATEMENT Funding for this project totaled $1,171,980 as outlined in Attachment 1. Expenditures totaled $1,018,340, leaving an unspent balance of $153,640 in the CIP budget. Staff recommends the transfer of this unspent balance to the Street CIP fund balance.