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I <br />wK 106 PAIL 322 <br />11.H.1. RIVER PARK PLACE DEVELOPER'S AGREEMENT - <br />FINAL PAY REQUEST (RELEASE OF RETAINAGE) <br />The Board reviewed a Memorandum of August 26, 1998: <br />DATE: AUGUST 26, 1998 <br />TO: JAMES E. CHANDLER <br />COUNTY ADMINISTRATOR <br />FROM: DONALD R. HUBBS, P.E. <br />DIRECTOR OF UTILITY SERVWEi` <br />PREPARED WILLIAM F. cC , P.E. <br />AND STAFFED CAPITAL P CTS ENGINEER <br />BY: DEPART OF UTILITY SERVICES <br />SUBJECT: RIVER PARK PLACE DEVELOPER'S AGREEMENT <br />FINAL PAYMENT <br />INDIAN RIVER COUNTY PROJECT NO. CDS/CCS-647 <br />BACKGROUND <br />On April 7, 1998, the Indian River <br />approved a developer's agreement <br />Partnership for the above -referenced <br />agenda package and minutes.) The <br />must be made. <br />ANALYSIS <br />County Board of County Commissioners <br />with River Park Associates, Limited <br />project. (Please reference the attached <br />project is complete, and final payment <br />The total compensation per the original developer's agreement is $139,944.50. <br />(Please reference the attached copy of the approved developer's agreement.) <br />Based on the outlined agreement, the final cost breakdown is as follows: <br />Total construction cost <br />River Park Associates portion <br />Total Indian River County <br />$148,072.52 <br />7,537.50 <br />$140,535.02 <br />Reimbursement shall be per the original approved amount of $139,944.50. <br />Payment has been made in the amount of $125,950.05, which represents 90%. <br />We are now prepared to release the final 10% retainage. <br />RECOMMENDATION <br />The staff of the Department of Utility Services recommends that the Board of <br />County Commissioners approve the attached final pay request in the amount of <br />$13,994.45 and authorize the chairman to execute same as presented. <br />September 8, 1998 <br />52 <br />40 0 <br />