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Page 1 of 1 <br /> <br />DATE: May 11, 2015 <br /> <br />TO: Honorable Mayor and City Councilmembers <br />Patrick Klaers, City Administrator <br /> <br />FROM: Terry Maurer, Public Works Director <br /> <br />SUBJECT: County Road E/Pine Tree Drive Improvements <br />Payment #1 <br /> <br />Requested Action <br /> <br />Approve Payment #1 to Park Construction, Inc., in the amount of $138,475.54 for the County <br />Road E/Pine Tree Drive Improvements. <br /> <br />Background <br /> <br />The City Council awarded the County Road E/Pine Tree Drive Improvements to Park <br />Construction, Inc., on February 9, 2015, in the amount of $1,349,913.06. <br /> <br />Discussion <br /> <br />This first pay request is for materials on-hand for the signal system that will be installed at the <br />intersection of County Road E and Lexington Avenue. The pay request is in the amount of <br />$138,475.54. According to the Contract, since this payment is for materials on-hand there is no <br />retainage taken from this payment. <br /> <br />Financial Implications <br /> <br />Approximately eighty seven percent of the construction cost is being funded by Ramsey County <br />through a Cooperative Agreement. The remaining construction cost is being funded by <br />Municipal State Aid funds and assessments to the benefitted properties. <br /> <br />Attachments <br /> <br />Attachment A: Payment Estimate #1 <br />CONSENT ITEM – 5G <br /> <br /> <br />MEMORANDUM <br />