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Subject: (Direct Referral) Communication from the Assistant Commissioner of Public Works/City Engineer requesting to reduce the retainage to 3.41% on Contract 06-12 (K2-006) - 2012 Concrete Street Reconstruction. (Res. No. 13-0050)
Recommendation of the Public Works and Services Committee on 1-29-13: That the request of the contractor to reduce the retainage on Contract 6-12 (K2-006), 2012 Concrete Street Reconstruction, A.W. Oakes & Son, Inc., contractor, to $25,000.00, be approved.
Fiscal Note: The amount of retainage is sufficient to cover the value of the remainder of the work on this project.