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4 <br /> THE CITY OF <br /> - '-' CITY COUNCIL AGENDA REPORT <br /> PLEASANTON., <br /> January 17, 2023 <br /> Engineering <br /> TITLE: ACCEPT PUBLIC IMPROVEMENTS PERFORMED BY AMERICAN <br /> ASPHALT REPAIR & RESURFACING CO., INC. FOR THE ANNUAL <br /> SLURRY SEAL OF VARIOUS STREETS PROJECT, CIP NO. 22504 <br /> SUMMARY <br /> The 2022 Annual Slurry Seal of Various Streets project consisted of applying slurry seal <br /> to approximately 920,000 square feet of pavement on 17 sections of city streets, the <br /> Laurel Creek Park parking lot and access road, and the Foothill Water Tank paved <br /> maintenance area. Slurry seal is an application of a thin coat of asphalt/aggregate slurry <br /> mixture that seals the road surface. Slurry seal prolongs the useful life of the road while <br /> providing a safe and smooth riding surface. City Council awarded the $494,823 contract <br /> to American Asphalt Repair & Resurfacing Co., Inc. on June 7, 2022. The work is <br /> complete to the satisfaction of the Director of Engineering, and it is recommended that <br /> the project be accepted by City Council as complete. <br /> RECOMMENDATION <br /> 1. Accept the project as complete and authorize the City Clerk to file a Notice of <br /> Completion. <br /> 2. Authorize release of the retention in the amount of$24,562 to American Asphalt <br /> Repair & Resurfacing Co., Inc. 30 days after the recordation of the Notice of <br /> Completion. <br /> 3. Authorize the return of the project's unused balance of$70,379 to its fund balance, <br /> Gas Tax — Fund 160. <br /> FINANCIAL STATEMENT <br /> Funding for this project totals $570,438 and the project expenditures totaled to <br /> $500,059, leaving a balance of$70,379 (see Attachment 1). Staff recommends the <br /> project's remaining unused amount be returned to its fund balance, Gas Tax — Fund <br /> 160. <br />