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AGENDA ITEM 76 <br />STAFF ORIGINATOR: James E. Studenski, City Engineer <br />COUNCIL MEETING DATE: December 15, 2003 <br />TOPIC: Resolution No. 03-227, Approving Final Payment, Lake Dr./Apollo Dr. <br />Improvements <br />VOTE REQUIRED: 3/5 Vote Required <br />BACKGROUND: <br />The contractor for the Lake/Apollo Dr. Improvements Project, Forest Lake Contracting, <br />Inc., is requesting City approval of Payment No. 8 (final) in the amount of $15,907.20. <br />A copy of the final payment is attached. The contractor has completed all work and has <br />provided all necessary documentation. <br />The original contract amount was $1,509,275.30 and the final contract amount is <br />$1,491,720.29. The total for the project was $17,555.01 under the bid amount and <br />$188,675.46 under the Engineer's estimate of $1,680,395.75. <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 03-227Approving Payment No. 8 (final) for the Lake/Apollo Dr. <br />Improvements Project. <br />RECOMMENDATION: <br />Option No. 2 - Staff recommends that Resolution 03 -227 be approved. <br />