The Board of Managers at its meeting November 17, 2014, approved revisions to Board Policy CV (Local): Facilities & Construction, as follows: “The District shall not make final payments for construction or the supervision of construction until the work has been completed and the Board has accepted the work.” The District maintains retainage in an amount of at least five percent (5%) of the contract value until final payment is made. Administration is providing the Board documentation to the effect that the conditions for Final Acceptance and Final Payment set out in the contract have been satisfied.

The original project construction contract budget was established at $26,500,946.00, with the actual final construction cost of $26,186,835.48.  On March 9, 2021, the Board approved the release of partial retainage for the completion and final acceptance of the Field House for $202,218.68, representing 0.77%, of the final construction cost.

The conditions of Final Acceptance of the work for the Performing Arts Center was achieved on September 27, 2022. The partial retainage of $748,354.75, equates to 2.86% of the final construction cost. This is a result of the assessment of 102 calendar days of liquidated damages against the remaining balance on the construction contract. Furthermore, the withholding of $261,868.35, representing 1.00% of the final construction cost is being withheld for the pending installation of audio/visual equipment.

It is recommended that the Board approve the final acceptance of the work and partial payment for Andress High School Additions and Renovations - Performing Arts Center, CSP No. 18-079, Project No. 17.626, to Urban Associates, Inc., in the amount of $748,354.75.