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INDIAN RIVER COUNTY, FLORIDA <br />BOARD MEMORANDUM <br />TO: Joseph A. Baird, <br />County Administrator <br />THROUGH: Christopher R. Mora, P.E. <br />Public Works Director <br />FROM: James D. Gray, Jr.`D <br />Coastal Engineer �J <br />SUBJECT: Sector 3 Dune Repair Project <br />Partial Release of Retainage <br />Guettler Brothers Construction, LLC <br />DATE: February 24, 2015 <br />DESCRIPTION AND CONDITIONS <br />Indian River County has contracted with Guettler Brothers Construction, LLC. (Guettler) <br />for construction services in connection with the Sector 3 Dune Repair Project, County <br />Project No. 0928 — A. To date over fifty percent (50%) of the contracted work has been <br />satisfactory completed. Under the terms of the contract and in accordance with the <br />provisions of the Local Government Prompt Payment Act, F.S. 218.70 et. Seq., Guettler <br />may request a partial release of withheld retainage following fifty percent (50%) project <br />completion. Guettler has submitted Application for Payment No. 5 requesting fifty <br />percent (50%) or $98,486.10 of the currently withheld retainage of $196,972.20. <br />FUNDING <br />Local funding of Beach Restoration includes a portion of Local Option Tourist Tax Revenue <br />as well as allocation of the One Cent Sales Tax. Funding is budgeted and available for <br />construction of the Sector 3 Dune Repair Project in the Beach Restoration Fund, Sector 3 <br />Renourishment — Post Hurricane Sandy Account No. 12814472-066510-13014. Funding <br />for the release of retainage is from Account No. 128206002-13014. <br />FAPublic WorksJamesG\Sector 3 Repair Project\Application for Payment\Sector 3 Dune Repair Project GBC Partial <br />Release of Retatinage 3-3-15.docx <br />169 <br />