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F <br />L <br />SOUTH COUNTY R.O.-PHASE H, RETAINAGE REDUCTION - CDM <br />The Board reviewed a Memorandum of September 9, 1994: <br />DATE: September 9, 1994 <br />TO: JAMES E. CHANDLER <br />COUNTY ADMINISTRATOR <br />FROM: TERRANCE G. PINTO <br />DIRECTOR•OF UTIL ERVICES <br />PREPARED WILLIAM F. MCCAIN <br />AND STAFFED CAPITAL PROJECTSER <br />BY: DEPARTMENT OF UTILI SERVICES <br />SUBJECT: SOUTH COUNTY.R.O. - PHASE II,_ RETAINAGE <br />REDJUCT ION -AND , . PAYMENT .. APPLI CATT4N, �+TD : - t�. 3: <br />INDIAN :RIVER "COUNTY`PROJECT ATO. UW_ -91 -17 -WC <br />BACKGROUND <br />On November 10, 1992, the Board of County Commissioners approved a <br />contract with Wharton -Smith for the above referenced project. The <br />project reached final completion on July 8, 1994. This completion <br />date was late by 270 days (see attached letter from Camp, Dresser <br />& McKee, Inc., dated August 16, 1994). As a result of the delay, <br />the contractor has incurred substantial liquidated damages. The <br />contractor has reached final completion and has requested a <br />reduction in the contract retainage to 2%. <br />ANALYSIS <br />The contract (See attached- Article 5, section 500, pages 3 & 4 of <br />the contract) allows for a retainage reduction to 2%, upon final <br />completion. Due to the high liquidated damage potential, (i.e., <br />$147,615) the Department of Utility Services recommends only a <br />reduction -in retainage from 10$ to 8%, or a total retainage of <br />$188,052.27. <br />RECOMMENDATION <br />The staff of the Department of Utility Services recommends that the <br />Board of County Commissioners approve the retainage reduction in <br />the amount of 2% (i.e., 10% reduced to 8%) as presented. <br />Commissioner Adams inquired as to why this project is running <br />so late and was advised that the subcontractor got a late start and <br />September 20, 1994 57 <br />BOOK 93 Fn -E348 <br />