City Council
MEETING DATE: 12/10/2014
TITLE:
Title
Avenida Maravilla Street Improvements Final Acceptance
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FROM:
Pat Milos, Community Development Director
RECOMMENDATION:
Recommendation
Staff recommends that the City Council accept the Avenida Maravilla Street Improvements, CIP 8903 as final; authorize the City Manager to file Notices of Completion with the Riverside County Recorder's office on behalf of the City Council; and authorize the release of City held retention funds to Matich Corporation upon expiration of the Notice of Completion.
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BACKGROUND:
Staff requests that the City Council accept and approve the subject project. City Council acceptance is required to approve the project's final contract amount and release retention funds. Retention funds are monies earned by the contractor that are withheld from progress payments pending satisfactory completion and final acceptance of the project. The project was built according to contract terms.
City Council acceptance is also required to file the formal Notice of Completion (NOC) with the Riverside County Recorder's office. The NOC is a written notice issued by the owner of a project, or his/her agent, to notify concerned parties that all work on the project has been completed. This notice also sets the period, which is 30 days from the date the NOC is filed, within which concerned parties may exercise their lien rights against one another.
Once the thirty day period has expired, and provided no claims or liens were received, the City can release retention funds.
DISCUSSION:
The City of Cathedral City executed a construction contract with Matich Corporation for the improvement project on June 11, 2014 for the contract bid amount of $638,000.00. Measure A, Gas Tax and Assessment District funds in the total amount of $710,000.00 were approved for the project. On October 8, 2014, Council authorized a Contract Change Order (CCO) to add the construction of ...
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