HomeMy WebLinkAbout05(K) - Adopt Resolution No. 20-016 - Accepting Final Payment for the 2017 Reconstruction Project Report
MEETING DATE:January 21, 2020
PREPARED BY:Nick Monserud, Assistant City Engineer
PRESENTED BY:Nick Monserud
AGENDA ITEM:Adopt Resolution No. 20-016-Authorizing Full and Final Payment
to Geislinger and Sons, Inc. For the 2017 Reconstruction Projects
(City Project#TRN17-000003, TRN17-000004, TRN-000005)
GOAL AREATransportation & Mobility
OBJECTIVE: ⦁
Maintain quality local street system based on a finically stable
plan that meets overall condition targets.
⦁
Promote neighborhood connectivity and safety through
development and street reconstruction projects.
⦁
RECOMMENDED ACTION:
Approve a resolution authorizing full and final payment
to Geislinger and Sons, Inc. for the 2017 Road Reconstruction Project, City Project
numbers TRN17-000002, TRN17-000003, TRN17-000004, TRN17-000005 as part
of the consent agenda.
BACKGROUND:
The purpose of this item is to authorize full and final payment for the 2017
Reconstruction Project. This project included storm sewer, storm water quality, sanitary
sewer, watermain and street reconstruction.
History
On May 22, 2017, the City Council awarded a construction contract to Geislinger and
Sons, Inc. (Geislinger) for the 2017 Road Reconstruction Project, City Project numbers
TRN17-000002, TRN17-000003, TRN17-000004, TRN17-000005. All work under the
contract has been completed in accordance with the contract. All punch list items have
been completed and any additional repairs will be covered under the project warranty.
Current Circumstances
The final payment amount is $96,060.71. With this payment, the total final contract
amount paid to Geislinger will be $4,803,035.45. This amount is $61,024.55 over the
original contract amount of $4,742,010.90 which is 1.3% over the project budget.
Conclusion
Geislinger delivered a quality project and has addressed the outstanding work items. It
is appropriate to provide full and final payment at this time.
FINANCIAL IMPACT:
Funding for the final payment is available in the Construction
Fund for this project.
1
The final project costs are as follows:
Funding of this project is shown on the table below:
As bond proceeds were sufficient to cover project costs, $101,987.64 remains unspent
at the end of the project and, per bond counsel, can be reauthorized by City Council for
another improvement project.Staff recommends that the funds remain in the
Construction Fund to help offset the costs of other improvement construction
projects.Per bond requirements, any excess bond proceeds that are not reauthorized
for another improvement project must be transferred to the Debt Service Fund for
payments on the related bonds.
The preliminary transfers from the Water/Sewer/Stormwater funds are adjusted at the
time of final payment to reflect the actual Water/Sewer/Storm Water costs that were
incurred. The final transfers needed are shown in the table below.
⦁
Approve a resolution authorizing full and final payment to Geislinger and Sons,
Inc. for the 2017 Road Reconstruction Project, City Project numbers
TRN17-000002, TRN17-000003, TRN17-000004, TRN17-000005 as part of the
consent agenda.
⦁
Motion and second to remove this item from the consent agenda for additional
discussion.
ATTACHMENTS:
⦁
Resolution 20-016
2