2021.11.01 CC Packet - Laserfiche WebLink

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G.7 Approve Payment Voucher No. 3 for the 2021 Downtown Improvement/Lions Park Project Peterson Companies, Inc. has submitted Pay Voucher No. 3 in the amount of $964,896.62 for work certified through September 30, 2021, on the 2021 Downtown Improvement/Lions Park Project. Concrete curb and gutter and paving in Phase 1 and concrete curb and gutter in Phase 2 of the street portion of the project has been completed. Work is ongoing within Lions Park including finishing both parking lots, playground work and lighting installs. Staff recommends Council approve payment to Peterson Companies, Inc. in the amount of $964,896.62. G.8 Approve Pay Request No.5 to Ebert Construction for Public Works Salt and Materials Storage Project Ebert Construction has submitted pay request No. 5 for payment for the City of Hugo Public Works Salt and Materials Storage project in the amount of $57,963.68. The quantities completed to date have been reviewed and agreed upon by the architect, contractor and City staff. The amount indicated above reflects the work certified through October of 2021, with a 5% retainage applied. Total retainage being held for the project to date is $28,666.75. Staff recommends the City Council approve payment request No. 5 in the amount of $57,963.68 to Ebert Construction. G.9 Approve Pay Request No. 13 to Ebert Construction for the Public Works Facility Project Ebert Construction has submitted pay request No. 13 for payment for the City of Hugo Public Works Facility project in the amount of $1,232,216.33. The quantities completed to date have been reviewed and agreed upon by the architect, contractor and City staff. The amount indicated above reflects the work certified through October of 2021, with a 5% retainage applied. Total retainage being held for the project to date is $371,244.94. Staff recommends the City Council approve payment request No. 13 in the amount of $1,232,216.33 to Ebert Construction. G.10 Approve Reduction in Cash Escrow for Hugo Gardens The Hugo Gardens Project has had grading and utility work completed to date and the Hugo Garden Apartments, LLC. is requesting a reduction in the Cash Escrow. The current amount of cash escrow for the Hugo Gardens Project is in the amount of $1,338,696.47. Staff has inspected the work completed to date and recommends Council approve the reduction in cash escrow to $1,319,095.12 based on the value of work remaining to be completed. G.11 Approve Reduction in the Letter of Credit for Oneka Place 5th Oneka Place 5th Addition has had significant work completed to date, and the developer is requesting a reduction in the letter of credit. The current letter of credit is in the amount of $527,233. Staff has inspected the work completed to date and recommends reducing the letter of credit by $426,958 based on the value of the work remaining to be completed. The remaining value of the letter of credit will be in the amount of $100,275. Staff recommends Council approve the reduction in letter of credit for Oneka Place 5th Addition.