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THE CITY OF r <br /> °f CITY COUNCIL AGENDA REPORT V^ <br /> [ALE ASANTONo <br /> March 5, 2013 <br /> Community Development <br /> Engineering Division <br /> TITLE: ACCEPT PUBLIC IMPROVEMENTS PERFORMED BY AMERICAN <br /> ASPHALT REPAIR AND RESURFACING CO., INC. FOR THE ANNUAL <br /> SLURRY SEALING OF VARIOUS STREETS PROJECT, CIP NO. 115004 <br /> SUMMARY <br /> This annual preventative maintenance project consisted of improving the roadway <br /> surface on various city streets by applying Type II black volcanic aggregate slurry seal <br /> coating. The project also included replacing all traffic striping, pavement markings and <br /> traffic buttons. City Council awarded this construction contract to American Asphalt <br /> Repair and Resurfacing Co., Inc. on July 17, 2012. Construction of the project is now <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 $28,003.07 to American <br /> Asphalt Repair and Resurfacing Co., Inc. thirty days after the recordation of the <br /> Notice of Completion. <br /> 4. Authorize the transfer of the project balance to Gas Tax and Streets CIP fund <br /> balances, after all of the California Bicycle Transportation Account (BTA) funding <br /> reimbursements have been received. <br /> FINANCIAL STATEMENT <br /> Funding for this project totaled $786,620 as outlined in Attachment 1. Expenditures <br /> totaled $595,600, leaving an unspent balance of $191,020. Staff is recommending the <br /> transfer of this balance to Gas Tax and Streets CIP fund balances after all of the <br /> California BTA funding reimbursements have been received. <br />