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<br />e <br /> <br />CITY OF ARDEN HILLS <br /> <br />MEMORANDUM <br /> <br />DATE: November 5, 2001 <br /> <br />TO: Joe Lynch, City Administrator <br />-- <br />FROM: Thomas J. Moore, Parks & Recreation Director and Acting Pnblic I J M <br />Works Director, <br />SUBJECT: Final Payment (Contract Retainage); 2001 North and Sonth Water <br />Tower Maintenance Project. <br /> <br />. <br /> <br />Backl!:round <br />The City of Arden Hills awarded Champion Coatings Inc. of Lakevil1e, Minnesota the <br />2001 North and South Water Tower Maintenance Project on May 21,2001 for a total <br />contract amount of$38,475.00. At the June 25,2001 City Council meeting, Change <br />Order #1, in the amount of$26,450.00, was approved. The revised total contract amount <br />for the 2001 North and South Water Tower Maintenance Project is $64.925.00. At the <br />August 27, 2001 City Council meeting, the City Council approved payment to Champion <br />Coatings Inc. of Lakeville, Minnesota in the amount of$61,678.75. A Retainage Fee of <br />5% in the amount of $3,246.25 was withheld until all necessary paperwork was received <br />by the City. <br /> <br />Proiect Status <br />Champion Coatings Inc. of Lakeville, Minnesota has processed all the necessary <br />paperwork. This final payment reflects the release of all contract retainage. <br /> <br />Recommendations <br />Staff recommends the City Council approve the payment of the contract retainage for <br />Champion Coatings Inc. of Lakeville, Minnesota in the amount of$3,246.25 <br /> <br />e <br />