Created : March 16, 2013 at 11:10 PM
August 05, 2003
Status:
Approve the recommendation to reduce retainage now being held on the project from the General Contractor, Betancourt _ Castellon Associates, from $894,516 to $657,089.
In accordance with Article 8.4 of the Agreement between The School Board of Broward County, Florida, and Betancourt _ Castellon Associates, the Facilities and Construction Management Department is recommending that the retainage be reduced from $894,516 to 657,089.
Construction of the project is presently substantially complete. The amount of 3.66% is being withheld at this time pending final accounting and close out documents.
This project will be brought back to the Board for further Release of Retainage.
There is no financial impact to the district.
Requested Action
Approve the recommendation to reduce retainage now being held on the project from the General Contractor, Betancourt _ Castellon Associates, from $894,516 to $657,089.
Summary
In accordance with Article 8.4 of the Agreement between The School Board of Broward County, Florida, and Betancourt _ Castellon Associates, the Facilities and Construction Management Department is recommending that the retainage be reduced from $894,516 to 657,089.
Construction of the project is presently substantially complete. The amount of 3.66% is being withheld at this time pending final accounting and close out documents.
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
There is no financial impact to the district.
Source of Additional Information
Paul H. Bach, Project Manager, (954) 768-8644 null
Associated File Attachments
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Certificate of Occupancy (Files) | |
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Consent of Surety (Files) | |
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Retainage Reduction (Files) | |
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ExecutedARF (Files) |