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<br /> CONSENT ITEM – 5K <br /> <br /> MEMORANDUM <br /> <br />DATE: March 13, 2017 <br /> <br />TO: Honorable Mayor and City Councilmembers <br /> William Joynes, City Administrator <br /> <br />FROM: Sue Polka, Public Works Director/City Engineer <br /> <br />SUBJECT: Round Lake Road Final Payment #12 <br /> <br /> <br />Budgeted Amount: Actual Amount: Funding Sources: <br />$1,806,738.51 $1,806,738.51 MSA, TIF, Assessments, <br />Water Utility, Surface <br />Water Funds, PIR <br /> <br />Requested Action <br />Approve Final Payment #12 to Meyer Contracting, Inc. in the amount of $90,336.91 for <br />the Round Lake Road Improvements Project. <br /> <br />Background <br />The City Council awarded the Round Lake Road Improvements Project to Meyer <br />Contracting, Inc. on May 12, 2014, in the amount of $1,766,605.41. With change orders <br />and quantity deductions, the final contract amount is $1,806,738.51. <br /> <br />Discussion <br />There was no additional work performed for payment with this pay estimate, it simply <br />reflects the release of the 5% retainage. Final payment #12 is in the amount $90,336.91. <br />The Contractor has provided all necessary closeout documentation. Elfering & <br />Associates has provided a letter (Attachment A) recommending approval of the final <br />payment. <br /> <br />Financial Implications <br />With the final payment, the total amount paid to the contractor is $1,806,738.51 which is <br />$40,133.10 over the awarded contract amount and approved by Council through the <br />change order process. <br /> <br />Attachments <br /> <br />Attachment A: Elfering letter <br />Attachment B: Final Payment Estimate #12