HomeMy WebLinkAbout2023-11-06 I01G_05 Triumph Park_Pmt Est 24-Partial Release RetainageAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: November 6, 2023
AGENDA ITEM:Consideration of approval of Payment Estimate No. 24 (partial release of
retainage) to Larson Construction, Co., Inc., for the Triumph Park Project in
the amount of $460,422.47.
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON: Payment Estimate No. 24 to Larson Construction, Co.,
Inc., is for partial release of retainage. Design team and City staff feel it is
appropriate to release the partial retainage based on the punch list items that
have been completed. This is the release of a majority of the retainage on the
project that was being withheld until the infield issues had been addressed.
We are still withholding $22,430.00 from the project to finish the last of the
punchlist items which includes 16 trees. Lien waivers, letter notifying sub-
contractors of their request, and a notification from the bond company have
been received by city staff.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT: Approve Payment
RECOMMENDATION: Approve the resolution.
ATTACHMENTS: I. Letter of Recommendation
II. Payment Estimate No. 24 Release of Partial Retainage
PREPARED BY: Matt Jermier
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
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