(1) Approval of the Final Contract Amount of $71 317.35; (2) Acceptance of Work Performed by Freeway Electric for the Construction of Buckingham Parkway Pedestrian Crossing Installation P 885; and (3) Authorization to File the Notice of Completion; and (4) Authorization to Release Retention Funds Upon the Expiration of the 35 day Lien Period. City of Culver City California Agenda Item Report Meeting Date: 01/24/2011 CITY COUNCIL AGENDA ITEM: (1) Approval of the Final Contract Amount of $71 317.35; (2) Acceptance of Work Performed by Freeway Electric for the Construction of Buckingham Parkway Pedestrian Crossing Installation P 885; and (3) Authorization to File the Notice of Completion; and (4) Authorization to Release Retention Funds Upon the Expiration of the 35 day Lien Period Contact Person/Dept: Elaine Jeng/PW Phone Number: 310.253.5621 Item Number: C 5 Fiscal Impact: Yes X No General Fund: Yes No X Public Hearing: Action Item: Attachments: Commission Action Required: Yes No X Date: _______________ Public Notification: (E Mail) Agenda and Meetings City Council (01/19/11); (Telephone) Freeway Electric (01/19/11) Department Approval: Charles D. Herbertson(01/12/11) Chief Financial Officer Review: Jeff Muir (by K. Marsden) (01/19/11) City Attorney Approval: Carol Schwab (by H. Baker) (01/18/11) City Manager Approval: John M. Nachbar (01/19/11) RECOMMENDATION: Staff recommends that the City Council: (1) approve the final contract amount of $71 317.35; (2) accept the work performed by the contractor Freeway Electric for the construction of Buckingham Parkway Pedestrian Crossing P885; (3) authorize filing the Notice of Completion; and (4) authorize the release of the retention funds in the amount of $7 131.73 upon the expiration of the thirty five day lien period. BACKGROUND/DISCUSSION: On May 3 2010 the City Council awarded a construction contract to Freeway Electric as the lowest responsive and responsible bidder in the amount of $60 599 for the subject project with...
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