File #: 17-0127    Version: 1 Name:
Type: Resolution Status: Passed
File created: 2/1/2017 In control: Board of Mayor & Aldermen
On agenda: 2/14/2017 Final action: 2/14/2017
Title: Consideration of Resolution 2016-68, a Resolution Authorizing the City Administrator, Director of Engineering, and Assistant Director of Engineering to Review and Approve the Spending of a Project Contingency for the Hillsboro Road Improvements Project Phase 2, Independence Square to Mack Hatcher Parkway, in an Amount Not-to-Exceed $500,000. (1/26/2016 CIC 4-0)
Sponsors: Paul Holzen
Attachments: 1. Res 2016-68_Hillsboro_Rd_Contingency_Law Approved

 

DATE:                                                               January 26, 2017

 

TO:                                          Board of Mayor and Aldermen

 

FROM:                                          Eric Stuckey, City Administrator

                                          Paul Holzen, Director of Engineering

                                          Jonathan Marston, Assistant Director of Engineering

                                          William Banks, Staff Engineer

                                          

SUBJECT:                                          

title

Consideration of Resolution 2016-68, a Resolution Authorizing the City Administrator, Director of Engineering, and Assistant Director of Engineering to Review and Approve the Spending of a Project Contingency for the Hillsboro Road Improvements Project Phase 2, Independence Square to Mack Hatcher Parkway, in an Amount Not-to-Exceed $500,000. (1/26/2016 CIC 4-0)

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Purpose

The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the consideration of Resolution 2016-68, a resolution authorizing the City Administrator, Director of Engineering, and Assistant Director of Engineering to review and approve the spending of a project contingency for the Hillsboro Road Improvements Project Phase 2, Independence Square to Mack Hatcher Parkway, in an amount not-to-exceed $500,000.

 

Background

On March 8, 2016, The Board of Mayor and Aldermen awarded the construction contract (COF Contract No. 2015-0002) to Eutaw Construction Company, Inc. for the Hillsboro Road Improvements Project Phase 2 in the amount $11,995,005.13. 

 

An additional $500,000 project contingency is now requested by City staff to allow for the timely payment for unforeseen or changed project conditions, quantities or cost overruns on the Hillsboro Road Improvements Project Phase 2.

 

Financial Impact

It is anticipated that this $500,000 would be paid from the Capital Projects Fund.

 

Recommendation

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Staff recommends approval of Resolution 2016-68.