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Hugo City Council Meeting Minutes for November 1, 2021 <br />Page 3 of 5 <br /> <br /> <br />Consent Agenda approved Pay Request No. 3 to Peterson Companies, Inc. in the amount of <br />$964,896.62. <br /> <br />Approve Pay Request No. 5 to Ebert Construction for Public Works Salt and Materials <br />Storage Project <br /> <br />Ebert Construction had submitted Pay Request No. 5 for payment for the City of Hugo Public <br />Works Salt and Materials Storage project in the amount of $57,963.68. The quantities <br />completed to date had been reviewed and agreed upon by the architect, contractor and City staff. <br />The amount indicated above reflected the work certified through October, 2021, with a 5% <br />retainage applied. Total retainage being held for the project to date was $28,666.75. Adoption of <br />the Consent Agenda approved Pay Request No. 5 in the amount of $57,963.68 to Ebert <br />Construction. <br /> <br />Approve Pay Request No. 13 to Ebert Construction for the Public Works Facility Project <br /> <br />Ebert Construction had submitted Pay Request No. 13 for payment for the City of Hugo Public <br />Works Facility Project in the amount of $1,232,216.33. The quantities completed to date had <br />been reviewed and agreed upon by the architect, contractor and City staff. The amount indicated <br />above reflected the work certified through October, 2021, with a 5% retainage applied. Total <br />retainage being held for the project to date was $371,244.94. Adoption of the Consent Agenda <br />approved Pay Request No. 13 in the amount of $1,232,216.33 to Ebert Construction. <br /> <br />Approve Reduction in Cash Escrow for Hugo Gardens <br /> <br />The Hugo Gardens Project had grading and utility work completed to date, and the Hugo <br />Garden Apartments, LLC. had requested a reduction in the Cash Escrow. The current amount of <br />cash escrow for the Hugo Gardens Project was in the amount of $1,338,696.47. Staff had <br />inspected the work completed to date and recommended approval. Adoption of the Consent <br />Agenda approved the reduction in cash escrow to $1,319,095.12 based on the value of work <br />remaining to be completed. <br /> <br />Approve Reduction in the Letter of Credit for Oneka Place 5th <br /> <br />Oneka Place 5th Addition had significant work completed to date, and the developer was <br />requesting a reduction in the letter of credit. The current letter of credit was in the amount of <br />$527,233. Staff had inspected the work completed to date and recommended reducing the letter <br />of credit by $426,958 based on the value of the work remaining to be completed. The remaining <br />value of the letter of credit would be in the amount of $100,275. Adoption of the Consent <br />Agenda approved the reduction in letter of credit for Oneka Place 5th Addition. <br /> <br />Approve Release of the Letter of Credit and Escrow for Pratt Homes Fable Hills 1st-3rd <br />Additions <br /> <br />Lakeville Hugo, LLP along with Pratt Homes, Inc. had requested the City release the letter of <br />credits and cash escrows being held for Fables Hills 1st and 2nd Additions. Elmcrest <br />Investments, LLC along with Pratt Homes, Inc. had requested the City release the letter of credit <br />and cash escrow being held for Fable Hills 3rd Addition. City staff had inspected the work and <br /> <br />