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AGENDA ITEM 71 <br />STAFF ORIGINATOR: James E. Studenski, City Engineer <br />COUNCIL MEETING DATE: April 28, 2003 <br />TOPIC: Resolution No. 03 -56, Approving Final Payment for 2002 Sealcoat <br />Project <br />VOTE REQUIRED: 3/5 Vote Required <br />BACKGROUND: <br />The contractor for the 2002 Sealcoat Project, Allied Blacktop, Inc. is requesting <br />City approval of Payment No. 2 (final) in the amount of $4,486.28. A copy of the <br />final payment is attached. The contractor has completed all work and has <br />provided all necessary documentation. <br />The original contract amount was $86,277.30 and the final contract amount is <br />$89,725.70. The over run of $3,448.40 was from more material used than what <br />was in the contract amount. The total for the project was $21,090.30 under the <br />Engineer's estimate of $110,816.00. <br />Approval of the final payment will begin the one -year warranty period. <br />OPTIONS: <br />1. Return to staff for further review. <br />2. Approve Resolution 03 -56 Approving Payment No. 2 (final) for the 2002 <br />Sealcoat Project. <br />RECOMMENDATION: <br />Option No. 2 - Staff recommends that Resolution 03 -56 be approved. <br />