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RANCHO PALOS VERDES CITY COUNCIL <br />AGENDA REPORT <br />MEETING DATE: 2/19/2019 <br />AGENDA HEADING: Consent Calendar <br />AGENDA DESCRIPTION: <br />Consideration and possible action to authorize the City Clerk to file a Notice of <br />Completion for the Residential Street Rehabilitation Project Phase I, Area 8 PCC <br />Improvements and AC Repairs Project, Project #022417 and authorize a budget <br />transfer by decreasing the Capital Improvement Fund by $2,000,000 and increasing the <br />Measure R Fund by $2,000,000. <br />RECOMMENDED COUNCIL ACTION: <br />(1) Accept the project as complete; <br />(2) Authorize a budget transfer by decreasing $2,000,000 in the Capital <br />Improvement Fund and increasing $2,000,000 in the Measure R Fund; <br />(3) Authorize the City Clerk to file a Notice of Completion for the project with the Los <br />Angeles County Recorder; and if no claims are filed within 35 days after <br />recordation, send a notice to the surety company to exonerate the Performance <br />Bond; and, <br />(4) Authorize the Director of Public Works to release the 5% construction retention <br />payment to Hardy & Harper, Inc., 35 days after recordation of the Notice of <br />Completion by the Los Angeles County Recorder, contingent upon no claims <br />being filed on the project, and the contractor posting an acceptable warranty <br />bond with the City. <br />FISCAL IMPACT: The final project cost will be determined with the completion of <br />Residential Street Rehabilitation Project Phase II, Area 8 Project. The total budget for <br />Phase I is $2,542,816 which includes the construction budget of $2,467,850. The final <br />cost for construction was within the budget for a total of $2,228,602.70. <br />Amount Budgeted: $3,972,730 <br />Account Number(s): <br />(CIP) 330-400-8818-8002 - $ 28,900.00 <br />(CIP) 330-400-8818-8004 - $ 413,663.00 <br />(CIP) 330-400-8818-8006 - $ 143,491.00 <br />(CIP) 330-400-8818-8805 - $ 3,386,676.00 <br />Additional Appropriation: N/A <br />Revised Account Numbers: <br />(CIP) 330-400-8818-8002 - $ 28,900.00 <br />(CIP) 330-400-8818-8004 - $ 413,663.00 <br />(CIP) 330-400-8818-8006 - $ 143,491.00 <br />(CIP) 330-400-8818-8805 - $ 1,386,676.00 <br />(Measure R) 220-400-8818-8805 - $ 2,000,000.00 <br />1