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It should be noted that the process for executing the final payment for this project <br />will be different than the standard procedure. Due to financial difficulties <br />encountered by the contractor, the City is not to make direct payment to the <br />contractor as it typically would. The City Finance Director is aware of this <br />situation, and has been in contact with both the Internal Revenue Service and the <br />bonding company for the contractor. The Finance Director will follow the <br />prescribed procedure for executing the final payment. <br />Recommendation: <br />Resolution 7398, accepting the project and authorizing final payment, has been <br />prepared and is included with this Staff Report. Note that Item 2 of the <br />Resolution simply contains a general statement authorizing the final payment <br />rather than a statement specifically authorizing payment to the contractor, which <br />would typically be done on a resolution for final payment. This is consistent with <br />the discussion above regarding the non-standard final payment process. <br />Staff recommends that the City Council adopt Resolution 7398 and authorize <br />final payment for the County Road 10 Trail, Segments 9 & 10 Project in the <br />amount of $39,214.57. <br />Respectfully submitted, <br />Joseph R. Rhein, Consulting Engineer <br />Attachments: <br />Resolution 7398 <br />Project Summary Letter – January 7, 2009 <br />Request for Payment No. 7 & Final