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<br /> 7. N. INDIAN RIVER COMMUNITY COLLEGE DEVELOPER 'S AGREEMENT
<br /> MUELLER CAMPUS WATER LINE - RELEASE OFRETAINAGE FOR
<br /> PROFESSIONAL SERVICES
<br /> The Board reviewed a Memorandum of October 15 , 2001 :
<br /> DATE : OCTOBER 15 `h, 2001
<br /> TO : JAMES E . CHANDLER
<br /> COUNTY ADMINISTRATOR
<br /> FROM W . ERIK OLSON
<br /> DIRECTOR OF UTILITY SERVICES
<br /> PREPARED STEVEN J . DOYLE , P .E .
<br /> AND STAFFED INTER-LM ASSISTANT DIRECTOR
<br /> BY : INDIAN RIVER COUNTY UTILITIES
<br /> SUBJECT : COMPLETION OF DEVELOPER ' S AGREEMENT WITH INDIAN RIVER
<br /> CONEMUNITY COLLEGE (Utility Project No . PROJECT NO . 787)
<br /> RELEASE OF RETAINAGE FOR PROFESSIONAL SERVICES
<br /> BACKGROUND
<br /> On November 23 , 1999 , the Board of County Comm ssioners approved a Developer ' s Agreement with
<br /> Indian River Community College to construct a 12 - inch diameter water main along College Lane, just west
<br /> of 58 " Avenue. Construction of the water main is now complete and the Department of Utility Services has
<br /> accepted the associated facilities . The developer is now requesting reimbursement for the dedicated utilities
<br /> in accordance with the agreement (see attached invoice) .
<br /> ANALYSIS
<br /> The developer has requested final payment in the amount of $ 6, 160 . 50 . The approved developer ' s
<br /> agreement budget is 861 , 605 . 00 for the project and the developer has been reimbursed for 90 % of the work
<br /> completed. The project is at 100 % completion and the developer is requesting release final monies owed .
<br /> RECOMMENDATION
<br /> The staff of the Department of Utility Services recommends that the Board of County Commissioners
<br /> approve the Final Pay Request including the release of alI retainage held in the total amount of 56 , 160 . 50 .
<br /> NOVEMBER 6 , 2001 X11
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