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THE CITY OF <br /> '-" 'l CITY COUNCIL AGENDA REPORT <br /> pL£AS4NTONo <br /> October 3, 2017 <br /> Engineering <br /> TITLE: ACCEPT PUBLIC IMPROVEMENTS PERFORMED BY GRANITE ROCK <br /> COMPANY FOR THE VALLEY AVENUE AND HOPYARD ROAD <br /> PAVEMENT REHABILITATION PROJECT (OBAG CYCLE 1), CIP NO. <br /> 15526 <br /> SUMMARY <br /> The project consisted of resurfacing approximately 550,000 square feet of existing <br /> pavement surface along Valley Avenue (between Bernal Avenue and Hopyard Road) <br /> and along Hopyard Road (between Black Avenue and Del Valle Parkway). City Council <br /> awarded this construction contract to Granite Rock Company on April 18, 2017. <br /> Construction of the project is 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 $71,243.46 to Granite Rock <br /> Company, Inc. thirty days after the recordation of the Notice of Completion. <br /> 4. Authorize the return of the project balance of$150,678 to the Streets General Fund. <br /> FINANCIAL STATEMENT <br /> Funding for this project totaled $1,620,280, including $832,000 from the Federal <br /> Government's OBAG program, $238,000 from the 2015-2016 Capital Improvement <br /> Program budget, and $550,280 from the Annual Resurfacing of Various Streets project, <br /> CIP No. 15503 (as outlined in Attachment 1). Expenditures totaled $1,469,602, leaving <br /> a balance of$150,678 in the project. Staff recommends transferring the remaining <br /> balance back to the Streets General Fund. <br />