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,500fsilr,,F 155 <br />changing certain specifications and eliminating the payment and performance bonds in the <br />amount of $2,500.00. The total shortfall in funds for which the new owner will escrow an <br />amount to cover will be equal to $54,050.00 minus $44,200.00 minus $2,500.00 which equals <br />$7,350.00. <br />BID TABULATION <br />UNIT PRICE <br />Cathco, Inc. <br />$54,050.00 <br />P.O. Box 6432 <br />Vero Beach, FL 32961 <br />Less Deduct <br />-$2,500.00 <br />TOTAL BID <br />$ 51,550.00 <br />TOTAL AMOUNT OF BID: $51,550.00 <br />SOURCE OF FUNDS: Cash funds from developer's bank held in escrow, and owners <br />deposit in escrow. <br />BUDGETED AMOUNT: Account No. 111-214-541-06651 . $44.200.00 and <br />$7,350.00 deposited into escrow account by owner. <br />Staff recommends that the bid be awarded to Cathco. Inc. of Vero Beach. Florida as the <br />'lowest, most responsive bidder meeting specifications for construction of Copelands Landing, <br />Phase. H Performance Bond work - Staff further recommends the deletion of the <br />performance and payment bonds and modification of the Mobilization item to save <br />$2,500.00. The Contract Agreement is now being presented for approval and execution by <br />the Chairman and attesting by the Clerk. We have, in order not to have to take up agenda <br />time again on this matter, had the contractor sign four (4) originals of the two alternatives <br />presented; Alternative No. 1 without the performance and payment bond and Alternative <br />No. 2 including the performance and payment bonds. The contractor is agreeable to either <br />alternative. Staff will work closely with Risk Management and the Attorney's Office in <br />getting those offices' approval of the insurance certificates prior to issuing the Notice to <br />Proceed. <br />ALTERNATIVES & ANALYSIS <br />Alternative No. L The Board delete the performance and payment bonds requirement, <br />award the contract to Cathco. Inc, in the amount of $51,550.00, and direct the Chairman to <br />execute the agreement on behalf of the Board of County Commissioners. Staff further <br />recommends that the Board direct that all insurance certificates and other formalities as <br />required by the terms of the contract and bid documents be submitted and approved by the <br />appropriate staff departments responsible, including the Attorney's office prior to issuance <br />of a Notice to Proceed by the Department of Public Works. <br />Alternative No. 2 The Board reject the bids and not award the contract. - <br />RECOMMENDA'T'ION <br />Staff recommends Alternative No. I. <br />38 <br />January 23, 1996 <br />