June 06, 2006
Status: Pending
Approve the recommendation to reduce retainage now being held on the S.W. Area Bus Facility, Project Number 9335-91-01 from the General Contractor, Bergeron Land Development from $303,545 to $151,773.
In accordance with School Board Policy 7005, the Facility & Construction Management Division is recommending that the retainage be reduced from 10% to 5%.
This project has reached substantial completion. The amount of $151,773 is being withheld at this time pending final completion and close out documents for this portion of the project.
This project will be brought back to the Board for further Release of Retainage.
The funds being released in the amount of $151,773 are included in the Adopted District Educational Facilities Plan, Fiscal Years 2005-2006 to 2009-2010, Appendix E Page 34.
Requested Action
Approve the recommendation to reduce retainage now being held on the S.W. Area Bus Facility, Project Number 9335-91-01 from the General Contractor, Bergeron Land Development from $303,545 to $151,773.
Summary
In accordance with School Board Policy 7005, the Facility & Construction Management Division is recommending that the retainage be reduced from 10% to 5%.
This project has reached substantial completion. The amount of $151,773 is being withheld at this time pending final completion and close out documents for this portion of the project.
This project will be brought back to the Board for further Release of Retainage.
School Board Goals
| Goal 2 - All schools will have equitable resources. |
Financial Impact
The funds being released in the amount of $151,773 are included in the Adopted District Educational Facilities Plan, Fiscal Years 2005-2006 to 2009-2010, Appendix E Page 34.
Source of Additional Information
Henry Verdugo 754 321-1611
Associated File Attachments
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consentofsurety (Files) | |
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reductionretainagecertif (Files) | |
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collaboration (Files) | |
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ExecutedARF (Files) |