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Community Development Agency, Transportation Division, recommending the Board consider the following:
1) Approve and authorize the Chair to sign the Notice of Acceptance with Granite Construction Company for the Silva Valley Parkway/Serrano Parkway Traffic Circulation Improvement Project, CIP 72141, Agreement 15-31095, P&C 002-C1699; and
2) Authorize the Clerk of the Board to release the Payment and Performance Bonds to the Surety upon notification from the Community Development Agency, Transportation Division, after the one-year guarantee period.
FUNDING: Regional Surface Transportation Program Exchange Funds - Caltrans (100%). (No Federal Funds)
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DEPARTMENT RECOMMENDATION
Community Development Agency, Transportation Division (Transportation), recommending the Board consider the following:
1) Approve and authorize the Chair to sign the Notice of Acceptance with Granite Construction Company for the Silva Valley Parkway/Serrano Parkway Traffic Circulation Improvement Project, CIP 72141, Agreement 15-31095, P&C 002-C1699; and
2) Authorize the Clerk of the Board to release the Payment and Performance Bonds to the Surety upon notification from Transportation, after the one-year guarantee period.
DISCUSSION / BACKGROUND
The contract for the Silva Valley Parkway/Serrano Parkway Traffic Circulation Improvement Project (Project) was approved by the Board on August 25, 2015 (Item 11). The improvements were opened to motorists on June 30, 2016.
Recordation of the Notice of Acceptance will start legal times for guarantees, a lien period, and return of retention monies. Recordation of the Notice of Acceptance will also start the one-year time frame for releasing the Payment and Performance Bonds to the Surety.
Direct Construction Cost Summary:
Original Bid Price $ 309,521.98
Contract Item Cost $ 279,796.88
Contract Change Order Cost $ 25,000.00
Total Direct Construction Cost $ 304,796.88
Direct Construction Budget $ 350,000.00
The costs lis...
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