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Final Close-Out of Contract With Superior Asphalt, Inc., for Lykes Library Parking Lot Restoration Project (Contract No. 23-ITB00307/TC; Amount: $3,959.00)
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BRIEF OVERVIEW
Contract No. 23-ITB00307 was awarded by the Board on August 22, 2023, Doc ID. No. 12404 to Superior Asphalt, Inc., in the amount of $655,075.00.
Amendment No. 1 in the amount of $79,180.00 was approved by the Board on August 27, 2024, Doc ID. No. 14387 to add the Lykes Library Parking Lot to the list of projects for Contract No. 23-ITB00307/TC.
Final Pay for Purchase Order No. 23001119 for the originally awarded projects was approved by the Board on October 22, 2024, Doc ID. No. 14621.
The Final Contract amount for Amendment No. 1 is $79,180.00. (Purchase Order No. 24001020).
The work for Amendment No. 1 has been completed and Superior Asphalt, Inc., has submitted its Final Pay Application No. two (2) in the amount of $3,959.00. All releases properly include Hernando County. Superior Asphalt, Inc., has signed a release of lien. All notices of lien or claims of lien have been released on the project.
FINANCIAL IMPACT
Funding in the amount of $3,959.00 is available in the following account:
The retainage amount $3,959.00 is maintained on the balance sheet:
Fund: 0011 - General Fund, Account: 2050237 - Retainage - Superior Asphalt, Inc. Upon making payment, the retainage amount will be zeroed out on the balance sheet.
LEGAL NOTE
The Board has the authority to act on this item pursuant to Part II, Chapter 2, Article V of the Hernando County Code of Ordinances.
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RECOMMENDATION
It is recommended that the Board approve Final Pay Request No. Two (2) in the amount of $3,959.00 Superior Asphalt, Inc., to close out Contract No. 23-ITB00307/TC.
The final Contract for Amendment No. 1 amount is $79,180.00, no change to the Board approved amount for Amendment No. 1 of the Contract.