10 - 2017 Street Bond - Collegiate - 33rd - Graham Street Improvements Construction Contract Closeout with Richard Drake Construction

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Item No. 10 TO: Mayor & City Council John Godwin, City Manager FROM: Carla Easton, City Engineer SUBJECT: 2017 STREET BOND — CONSTRUCTION CONTRACT CLOSEOUT: COLLEGIATE, 33RD, GRAHAM STREET IMPROVEMENTS DATE: January 7, 2019 BACKGROUND: In May 2017, voters authorized the sale of $9.5 Million in bonds to improve city streets. The second project completed with the 2017 Street Bond Fund was the resurfacing of Collegiate Drive from Lamar to Clarksville, 33`d SE Street from Lamar to Clarksville, and Graham Street from 3`d NW to the Railroad. City Staff prepared the contract documents, and Richard Drake Construction (RDC) was awarded a contract in the amount of $844,302.04. STATUS OF ISSUE: RDC has completed all work under this contract and requests final acceptance and release of retainage upon acceptance by the City Council. The original contract amount was $844,302.04, and the final billing for all work completed under this contract is $815,790.04. Progress payments have been made in accordance with the contract documents, and the only remaining payment is for the retained amount of $40,789.50. BUDGET: Funding is available in the 2017 Street Bond Fund. RECOMMENDATION: Approve of the final payment and contract closeout for Richard Drake Construction on the 2017 Street Bond Improvements to Collegiate, 33`d SE, and Graham Streets.