Created : December 30, 2013 at 01:11 PM
March 15, 2005
Status: Pending
Approve the recommendation to reduce retainage now being held on the project from the Design-Builder, James B. Pirtle Construction Company, Inc., from $557,584 to $86,000.
In accordance with School Board Policy 7005, the Facility and Construction Management Division is recommending that the retainage be reduced from 2% to less than 1%.
The project has reached Substantial Completion. The amount of $86,000 is being withheld at this time pending final completion of the project.
Subsequent to final completion, this project will be brought back to the Board for Final Acceptance and Release of Retainage.
Funds being released totaling $471,584 are included in the Adopted District Educational Facilities Plan, 2004-2005 to 2008-2009.
Requested Action
Approve the recommendation to reduce retainage now being held on the project from the Design-Builder, James B. Pirtle Construction Company, Inc., from $557,584 to $86,000.
Summary
In accordance with School Board Policy 7005, the Facility and Construction Management Division is recommending that the retainage be reduced from 2% to less than 1%.
The project has reached Substantial Completion. The amount of $86,000 is being withheld at this time pending final completion of the project.
Subsequent to final completion, this project will be brought back to the Board for Final Acceptance and Release of Retainage.
School Board Goals
| Goal 2 - All schools will have equitable resources. |
Financial Impact
Funds being released totaling $471,584 are included in the Adopted District Educational Facilities Plan, 2004-2005 to 2008-2009.
Source of Additional Information
Greg Boardman 754 321-1620
Associated File Attachments
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document01770e (Files) | |
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tco (Files) | |
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contractorsrrc (Files) | |
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consentofsurety (Files) | |
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ExecutedARF (Files) |