RECOMMENDATION(S):
APPROVE the Clyde Pedestrian Path project contingency fund increase of $115,000, for a new contingency fund total of $232,968.50, and new payment limit of $447,653.50, and ADOPT Resolution No. 2011/493 accepting as complete the contracted work performed by FANFA, Inc., for the Clyde Pedestrian Path project, Clyde Area. Project No.: 4660-6X4114-10.
FISCAL IMPACT:
The $115,000 increase in contingency funds will be funded by 96% Navy Mitigation Funds and 4% Transportation Development Act Funds.
BACKGROUND:
The contingency fund increase is necessary to compensate the contractor for various items of unforeseen extra work necessary for the construction of the project.
|