16 - 2017 Street Bond Construction Closeout - E. Cherry, E. 3rd, N.W. 7th & S.W. 7thItem No. 16
TO: Mayor & City Council
John Godwin, City Manager
FROM: Carla. Easton, City Engineer
SUBJECT: 2017 STREET BOND — CONSTRUCTION CONTRACT CLOSEOUT: E
CHERRY, E 3R', NW 7Th' & Ste' 7T11 STREET IMPROVEMENTS
DATE: June 12, 2018
BACKGROUND: In May 2017, voters authorized the sale of $9.5 Million in. bonds to improve
city streets. The first project completed with the 2017 Street Bond Fund was the resurfacing of E
Cherry Street from NE 20" to NE 25", E 3d Street from Shennan to Provine, NW 7`" Street from
Graham to Center, and SW 7"' from Washington to Grand. City Staff prepared the contract
documents, and Richard Drake Construction (RDC) was awarded a contract in the amount of
$880,328.44.
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 $880,328.44, and the final billing for all work completed under this contract is
$805,758.04. Progress payments have been made in accordance with the contract documents,
and the only remaining payment is for the retained amount of $40,287,90.
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 E Cherry, E 3", NW 7'1',, and SW 7t"
Streets.