HomeMy WebLinkAboutC29370C - Partial Release of Retention 505-03Contract No. C29370C
CITY OF PALM DESERT
SUCCESSOR AGENCY TO THE
PALM DESERT REDEVELOPMENT AGENCY
JOINT CONSIDERATION
PUBLIC WORKS DEPARTMENT
STAFF REPORT
REQUEST: AUTHORIZE A PARTIAL RELEASE OF RETENTION BEING
HELD FOR THE CONSTRUCTION OF THE COOK STREET
DRAINAGE PROJECT TO COOLEY CONSTRUCTION, INC.,
CONTRACT NO. C29370C (PROJECT NO. 505-03)
SUBMITTED BY: Mark Greenwood, P.E., Director of Public Works
CONTRACTOR: Cooley Construction, Inc.
PO Box 401810
Hesperia, California 92345
DATE: June 28, 2012
CONTENTS: Vicinity Map
Recommendation
By Minute Motion, authorize the Finance Director to release partial retention
in the amount of $128,696.75 to Cooley Construction, Inc., for the
construction of the Cook Street Drainage Project, Contract No. C29370C.
(Project 505-03)
Funds are available in Account No. 703-0000-206-0000, Cook Street Drainage
Retention Account. No General Fund money is being used for this expenditure.
Backqround
On February 24, 2011, City Council awarded Contract No. C29370C for the construction
of the Cook Street Drainage and Intersection Improvements to Cooley Construction,
Inc., in the amount of $2,581,205.00. To date, Cooley Construction has billed a total of
$2,573,934.97 for their work. In accordance with procedure, retention in the amount of
$257,393.50 is being held. This project is substantially complete. Issues with the
Staff Report
Partial Release of Retention to Cooley Construction Contract No. C29370C
June 28, 2012
Page 2 of 3
availability and manufacturing of Internally Illuminated Street Name Signs (IISNS) have
delayed the formal filing of a Notice of Completion.
In keeping with the intent of holding retention and the recent modification to the Public
Contract Code reducing the amount held from a contractor's progress payments from
10 percent to 5 percent, staff is recommending that half of the amount currently retained
be released to Cooley Construction, Inc. The remaining retention of $128,696.75 will be
held until the filing of the Notice of Completion. This amount is sufficient for the IISNS.
Fiscal Analysis
There is no fiscal impact associated with this action other than the reduction of retention
money due to the contractor.
Prepared By:
De
ead:
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Bo Chen, P.E., City Engineer
Paul S. Gibson, Director of Finance
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n M. Wohlmuth
� Manager/Executive Director
Mark Gr
Director
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blic Works
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