Acceptance of Construction Work Performed by Sialic Contractors for the Realignment of Washington Boulevard in Downtown. City of Culver City California Redevelopment Agency Agenda Item Report Meeting Date: 11/17/08 AGENDA Contractors for the Realignment of Washington Boulevard in Downtown. Contact Person: Joe Susca Phone Number: 310 253 5763 ITEM: Acceptance of Construction Work Performed by Sialic Item Number: C 4 Fiscal Impact: Yes X No General Fund: Yes No X Action Item: Public Hearing: Public Notification: Master E Mail Notification List (11/12/08); Sialic Contractors (11/03/08) Rush Pacifica LLC (11/03/08) CBM Consulting (11/03/08) First Regional Bank (11/03/08) and the Downtown Business Association (11/03/08). Department Approval: Sol Blumenfeld Chief Financial Officer Approval: Jeff Muir (by N. Kimball) (11/12/08) Agency Counsel Approval: Executive Director Approval: Jerry Fulwood (11/12/08) Attachments: X RECOMMENDATION: Staff recommends the Culver City Redevelopment Agency (the Agency ) accept the construction work performed by the contractor Sialic Contractors (d.b.a. Shawnan ) and authorize filing a Notice of Completion for the Washington Boulevard Realignment Project in Downtown. It is also recommended that retention funds retained within an escrow account at First Regional Bank in the amount of $227 114.79 (plus interest) be released to Shawnan after a thirty five day lien period. BACKGROUND: Agency Property Sale: On July 10 2006 the Agency entered into a Disposition and Development Agreement (the DDA ) with Rush Pacifica LLC for the sale of the 9300 Culver Boulevard parcel (commonly referred to as Parcel B ). Since that time Rush Pacifica obtained an approval for a modified building design prepared construction documents obtained approvals to pull all building permits bid the construction out selected a General Contractor and is now in the process of obtaining their construction loan. Once the construction loan is obtained escrow will close on the land...
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