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INDIAN RIVER COUNTY, FLORIDA 73' <br />MEMORANDUM <br />TO: Jason E. Brown, County Administrator <br />THROUGH: Richard B. Szpyrka, P.E., Public Works Director <br />James W. Ennis, P.E., PMP, Assistant Public Works Director <br />FROM: Robert S. Skok, Infrastructure Project Manager <br />SUBJECT: Release of Retainage and Change Order No. 1 <br />58th Avenue (From North of 57th Street to 85th Street/CR510) Full Depth <br />Reclamation Project, FM No. 436416-1-54-01, IRC -1325 <br />DATE: January 21, 2022 <br />DESCRIPTION AND CONDITIONS <br />On June 9, 2020 the Board of County Commissioners awarded Bid No. 2020021 Timothy Rose <br />Contracting, Inc. for the reconstruction of 58th Avenue (from north of 57th Street to 85th <br />Street/CR510) in the amount of $7,330,842.90. <br />Change Order No.1 makes final adjustments to contract bid items resulting in a decrease to the total <br />contract amount by $999,435.51 for a final cost of $6,331,407.39 and makes final contract time <br />adjustments. <br />Timothy Rose Contracting, Inc. has successfully completed the project and has been paid <br />$6,014,836.98 with $316,570.41 held in retainage to date. Timothy Rose Contracting, Inc. has <br />submitted Contractor's Application for Payment No. 1325-9 for final payment including release of <br />retainage in the total amount of $316,570.41. <br />FUNDING <br />Funding for the final payment, including release of retainage, in the amount of $316,570.41 is <br />available in the following accounts: <br />Optional Sales Tax <br />Account No. 315-206000-16023 <br />58th Avenue Resurfacing (57th Street to <br />$192,425.36 <br />CR510)/Retainage/Timothy Rose Contracting <br />Traffic Impact Fees/District 1 <br />Account No. 104-206000-16023 <br />58th Ave Reclamation (57th — CR510) <br />$95,551.50 <br />Retainage/Timothy Rose Contracting <br />Utilities/Retainage/Timothy Rose Contracting <br />Account No. 471-206000-18525 <br />58th Avenue & 69th Street Water Main <br />$28,593.55 <br />