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Department of Transportation recommending the Board:
1) Authorize the Chair to sign the Notice of Acceptance with Granite Construction Company for the Contract Overlay - Newtown Road (5 Miles) Project (CIP No. 72184) in Placerville; and
2) Authorize the Clerk of the Board to release the payment and performance bonds to the surety upon notification from the Department after the one-year guarantee period. (Refer 7/19/11, Item 28)
FUNDING: This Project was funded with State Proposition 1B and Regional Surface Transportation Program Exchange Funds from the El Dorado County Transportation Commission. The requested Board action has no associated fiscal impact.
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Reason for Recommendation:
The Contract Overlay - Newtown Road (5 Miles) Project (Project) in Placerville was awarded by the Board to Granite Construction Company (Contractor) on August 23, 2011. Construction started on September 26, 2011. Construction was completed on November 4, 2011. Board execution and subsequent recordation of the Notice of Acceptance will allow the Department of Transportation (Department) to issue the proposed final estimate to the Contractor, which begins the Project closeout phase. Recordation of the Notice of Acceptance will also start legal time frames for guarantees, a lien period, return of retention monies and the one-year time frame for releasing the payment and performance bonds to the surety.
The budget for direct construction costs for this Project was $1,079,000. The original low bid price of this Project was $840,840.00. The total estimated direct construction cost of this Project is as follows:
Estimated Construction Contract Item Cost $962,601.74
Estimated Contract Change Orders $ 14,664.41
Estimated Final Cost of Construction Contract $977,266.15
The final costs listed above are estimates. The Department will be closing out the Project with the Contractor and finalizing costs over the coming weeks. Any significant deviations from the est...
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