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9-1 <br />NEWPORT BEACH <br />City Council Staff Report <br />COUNCIL STAFF REPORT <br />CITY OF <br />April 12, 2016 <br />Agenda Item No. 9 <br />ABSTRACT: <br />On November 25, 2014, City Council awarded Contract No. 5855, 2014-2015 <br />Playground Improvements project to Malibu Pacific Tennis Courts, Inc. (MPTC), for a <br />total contract cost of $119,800.00 with an $18,200.00 (15 percent) allowance for <br />contingencies. The work has been completed and staff now recommends closing out <br />the project. <br />RECOMMENDATION: <br />a) Accept the completed work and authorize the City Clerk to file a Notice of <br />Completion for the project; <br />b) 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 applicable <br />portions of the Civil Code; and <br />c) Release the Faithful Performance Bond one year after acceptance by the City <br />Council. <br />FUNDING REQUIREMENTS: <br />Funds for the construction contract were expended from the following account: <br />TO:HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL <br />FROM:David A. Webb, Public Works Director - 949-644-3311, <br /> <br />PREPARED BY:Peter Tauscher, Civil Engineer, <br />PHONE:949-644-3316 <br />TITLE:2014-2015 Playground Improvements - Notice of Completion and <br />Contract Termination for Contract No. 5855 (CAP15-0030 and <br />CAP15-0031)