Item C31
BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: August 15.2007
Division:
Engineering
Bulk Item: Yes -X- No
Department: Facilities Development
Staff Contact PersonlPhone #: Jerry Barnett X4416
AGENDA ITEM WORDING: Approval to reduce retainage from 10% to 2% for Overholt
Construction, Inc. for the construction of the N. Key Largo Fire Station #25.
ITEM BACKGROUND: Overholt Construction achieved substantial completion of the N. Key Largo
Fire Station on June 5, 2007. Generally, in accordance to our capital contracts, 10% retainage is held
until final payment. Overholt is requesting a reduction in retainage until the certificate of occupancy is
issued.
PREVIOUS RELEVANT BOCC ACTION: On May 18,2005 the BOCC approved to award bid
and execute a contract with Overholt Construction Corporation for construction of the N. Key Largo
Fire Station.
CONTRACT/AGREEMENT CHANGES: To reduce retainage of$202,781.98 to $40,556.40.
STAFF RECOMMENDATIONS: Approval as stated above.
TOTAL COST: N/A
BUDGETED: Yes ~ No
COST TO COUNTY: N/A
SOURCE OF FUNDS: Retainage Payable
REVENUE PRODUCING: Yes
No X
AMOUNTPERMONTH_ Year
APPROVED BY: County Atty _ OMBlPurchasing _ Risk Management _
DOCUMENTATION:
Included
Not Required _X_
DISPOSITION:
AGENDA ITEM #
Revised 11/06
MONROE COUNTY
FACILITIES DEVELOPMENT
MEMORANDUM
TO: David Koppel
County Engineer
FROM: Ann Riger, Contracts Administr.LJ I
Facilities Development lr
DATE: July 31,2007
RE: Agenda Item - Retainage Reduction - Overholt Construction
AGENDA ITEM WORDING: Approval to reduce retainage from 100/0 to 2% for Overholt
Construction, Inc. for the construction of the N Key Largo Fire Station #25.
ITEM BACKGROUND: The N Key Largo Fire Station is substantially complete as of June 5,
2007. Overholt Construction is requesting payment of all but 2% retainage. Final completion
will be attained upon issuance of a Certificate of Occupancy.
PREVIOUS RELEVANT BOCC ACTION: On May 18,2005, the BOCC approved to award
bid and execute a contract with Overholt Construction Corporation for construction of the N Key
Largo Fire Station
CONTRACT/AGREEMENT CHANGES: N/A
STAFF RECOMMENDATIONS: Approval as stated above.
Thank you. If you have any questions, please contact me at ext. 4439.
AR