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AGENDA ITEM #9.1.B <br /> c=� �f <br /> Pequot <br /> Lakes— - <br /> REPORT TO CITY COUNCIL <br /> Report Prepared by: Tim Houle <br /> Date: July 7, 2020 <br /> Subiect: Rasmussen Road & South Washington Avenue Improvement Project <br /> — Partial Payment Estimate <br /> Report: The Construction Contract calls for payments to the Contractor, RL <br /> Larson Excavating, on a monthly basis. This Project is a unit price job where the <br /> Contractor provided unit prices for estimated quantities for different items of work. <br /> RL Larson Excavating has submitted quantities for the work performed in this <br /> Partial Payment Estimate (PPE) Number 3, which we have verified. All PPEs, per <br /> the Contract, include 5% retainage held back by the City until the end of <br /> construction. We then recommend to start releasing retainage based on the <br /> completion of punch list/remaining items. <br /> RL Larson Excavating has completed the majority of the work, but there are <br /> several quantity line items yet to be calculated and paid for and several items still <br /> remaining to be completed. RL Larson put a lot of crews and effort on the project <br /> to complete it relatively quickly. This quick of a project does not always happen, <br /> but we believe this was a good thing for the community. <br /> Council Action Requested: Council motion approving Partial Payment Estimate <br /> Number 3 to RL Larson Excavating Inc. in the amount of$718,276.78. <br />