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❑ A resolution by the City Council accepting the contract and beginning the one-year <br />warranty. <br />_" Financial implications: The work performed on this contract was part of the 1998 Pavement <br />ManagementProgram. The cost of this contract has been financed as outlined in the feasibility <br />report approved by the City Council on January 26, 1998. <br />The final contract amount, $1,713,062.07 is $108,821.10 greater than the awarded amount of <br />$1,604,240.97. This represents an overrun of approximately 7%. 2.6% of the overrun is due to <br />change orders, 2.5% is due to private drivf � ray and sewer work, and 1.9% is from quantity <br />overruns. <br />Staff recommendation: All necessary items have been completed in accordance with project <br />plans and specifications. Since a11 items have been completed as outlined in the policy regarding <br />final contract acceptance, staff recommends the City Council approve a resolution accepting the <br />work completed under 1998 Contract A and authorizing final payment of $117,049.64. The total <br />amount paid for 1998 Contract A is $1,713,05?.07. <br />RECOMMENDED COUNCIL ACTION: <br />Approval of a resolution accepting the work completed under 1998 Contract A as outlined above, <br />starting the one-year warranty and authorizing final payment of � 1 i 7,049.64. <br />Prepared by: Deb Bloom <br />