Created : December 30, 2013 at 01:11 PM
March 15, 2005
Status: Pending
Approve the recommendation to reduce retainage now being held on Lake Forest Elementary, Project No. 0831-99-01, from the General Contractor, South Florida Construction Services, Inc. from $544,842.20 to $54,484.22.
In accordance with School Board Policy 7005, the Facilities and Construction Management Division is recommending that the retainage be reduced from 10% to 1% for Phased Replacement, from $544,842.20 to $54,484.22.
This project consists of replacement of Buildings 4 and 5 and a construction of a new multi-purpose building. Buildings 4 and 5 have reached Substantial Completion. The release of retainage being requested is specific to Buildings 4 and 5.
Funds being released totaling $490,357.98 are included in the Adopted District Educational Facilities Plan, Fiscal Years 2004-2005 to 2008-2009, page 5.
Requested Action
Approve the recommendation to reduce retainage now being held on Lake Forest Elementary, Project No. 0831-99-01, from the General Contractor, South Florida Construction Services, Inc. from $544,842.20 to $54,484.22.
Summary
In accordance with School Board Policy 7005, the Facilities and Construction Management Division is recommending that the retainage be reduced from 10% to 1% for Phased Replacement, from $544,842.20 to $54,484.22.
This project consists of replacement of Buildings 4 and 5 and a construction of a new multi-purpose building. Buildings 4 and 5 have reached Substantial Completion. The release of retainage being requested is specific to Buildings 4 and 5.
School Board Goals
| Goal 2 - All schools will have equitable resources. |
Financial Impact
Funds being released totaling $490,357.98 are included in the Adopted District Educational Facilities Plan, Fiscal Years 2004-2005 to 2008-2009, page 5.
Source of Additional Information
Sonjia V. Coley 754 321-1639
Associated File Attachments
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ExecutedARF (Files) |