The actions before the council are the approval of the acceptance of the Certificate of Completion, passage of a Resolution accepting the public improvements and approval of the final and retainage payments to Iowa Signal, Inc., on the SB I-35 and SE Corporate Woods Drive Traffic Signal project.
The project is now complete including all final surface restoration. A series of actions are needed in order to close out this construction project:
a) Engineer's Certificate of Completion: The attached Certificate of Completion from the project engineer states that the work performed was completed in substantial conformance with the plans and specifications and that the final contract amount is $204,834.79.
b) Resolution accepting the Public Improvements: This Resolution approves and adopts the Engineer's Certificate of Completion on the SB I-35 and SE Corporate Woods Drive Traffic Signal project and establishes the final contract amount to be $204,834.79.
c) Final Payment #3: Iowa Signal, Inc. = $102,255.70
Retainage Payment: Iowa Signal, Inc. = $10,241.74
It is recommended that the retainage payment be approved for payment 31 days from the date of acceptance of the project, in accordance with the terms of the contract. |