AGENDA REPORT
REQUEST FOR CITY COUNCIL ACTION
DATE: 09/02/2020
TO: Honorable Mayor and City Council Members
FROM: Public Works Department
SUBJECT:
Title
City Council consideration of a Partial Release of Retention to Riverside Construction Company, Inc., for the Cajalco/I-15 Interchange Project.
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RECOMMENDED ACTION:
Recommended action
That the City Council:
a. Make a finding, pursuant to Public Contract Code section 9203, that more than fifty percent (50%) of the Cajalco/I-15 Interchange Project has been completed and satisfactory progress has been made on the Cajalco/I-15 Interchange Project.
b. Authorize the release of one-half of the contract retention being held to Riverside Construction Company, Inc., for the Cajalco/I-15 Interchange Project.
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ANALYSIS:
On June 21, 2017, the City of Corona entered into a construction contract with Riverside Construction Company, Inc. ("Contractor"), in the amount of $44,583,469 to replace the existing Cajalco two-lane bridge with a standard six-lane bridge and reconfigure the on and off ramps to meet the projected traffic volumes for the year 2035 ("Cajalco/I-15 Interchange Project").
In accordance with the Public Contract Code Section 9203, the local agency is required to withhold not less than five percent (5%) of the contract price until final completion and acceptance of the project. However, at any time after fifty percent (50%) of the work has been completed, and if the legislative body finds that satisfactory progress is being made, it may make any of the payments in full for the actual work completed.
The Contractor's work on the Cajalco/I-15 Interchange Project has been substantially completed except for a small electrical service switch to serve the on and off ramp traffic signal. It is estimated this change order will be approximately $30,000 and will be completed in approximately three months. The Cajalco/I-15 Interchange Project is ninety-nine percent (99%) completed and is open...
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