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� CITY OF <br />NEWPORT BEACH <br />. / City Council S i a ff Report <br />Agenda Item <br />August 14, 2012 <br />TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL <br />FRONT: Public Works Department <br />Stephen G. Badum, Public Works Director <br />949 - 644 -3311, sbadum <br />PREPARED BY: Alfred Castanon, Associate Civil Engineer <br />APPROVED:C_ <br />TITLE: 2011 -2012 Sidewalk, Curb & Gutter Replacement - Notice of <br />Completion and Acceptance of Contract No. 4850 <br />ABSTRACT: <br />On November 8, 2011, City Council awarded Contract No. 4850 (2011 -2012 Sidewalk, <br />Curb & Gutter Replacement Project) to Grigolla & Sons Construction Company for a <br />total contract cost of $433,950.00 plus a 12% allowance for contingencies. The <br />required work is now complete and staff requests City Council acceptance and close out <br />of the contract. <br />RECOMMENDATIONS: <br />1. Accept the completed work and authorize the City Clerk to file a Notice of <br />Completion. <br />2. Authorize the City Clerk to release the Labor and Materials Bond 65 days after <br />the Notice of Completion has been recorded in accordance with the applicable <br />portions of the Civil Code. <br />3. Release the Faithful Performance Bond one year after Council acceptance. <br />FUNDING REQUIREMENTS: <br />Funds for the construction contract were expended from the following accounts: <br />Account Description Account Number Amount <br />General Fund 7013- C2001009 $ 451,726.50 <br />Total Construction Cost: $ 451,726.50 <br />