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THE CITY OF /'� <br /> CITY COUNCIL AGENDA REPORT /V^ <br /> pLEASANTONa <br /> May 19, 2015 <br /> Community Development <br /> Engineering Division <br /> TITLE: ACCEPT PUBLIC IMPROVEMENTS PERFORMED BY GHILOTTI <br /> CONSTRUCTION COMPANY FOR THE I-580/FOOTHILL ROAD <br /> INTERCHANGE IMPROVEMENT PROJECT, CIP NO. 095034 <br /> SUMMARY <br /> The project consisted of modifying the I-580/Foothill Road interchange to improve the <br /> interchange operation and safety. City Council awarded this construction contract to <br /> Ghilotti Construction Company, Inc. on August 20, 2013. Construction of the project is <br /> complete and ready for City Council acceptance. <br /> RECOMMENDATION <br /> 1. Accept the project as complete. <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 $280,686.22 to Ghilotti <br /> Construction Company, Inc. thirty days after the recordation of the Notice of <br /> Completion. <br /> 4. Authorize the return of the project balance in the amount of $69,296 to the Traffic <br /> Impact Fee fund balance and the Streets CIP fund balance. <br /> FINANCIAL STATEMENT <br /> Funding for this project totaled $6,967,237 as outlined in Attachment 1. Expenditures <br /> totaled $6,897,941, including a $30,000 reserve, leaving a balance of$69,296. Staff <br /> recommends the transfer of this balance to the Traffic Impact Fee fund balance and the <br /> Streets CIP fund balance. <br /> This project is anticipated to create a nominal increase in operations and maintenance <br /> costs due to increased pavement surface areas and additional landscaped areas for <br /> future maintenance. <br />