Adopt Resolution #26-085 Approving Partial Payment #33 to Magney Construction, Inc., for Improvement Project #21-09; Centralized Water Treatment Plant.
 

Pay Estimate and Resolution Attached.

The Resident Project Representative from Advanced Engineering and Environmental Services (AE2S) has inspected the completed work and recommends partial payment #33 to Magney Construction, Inc. for said project in the amount of $1,072,858.63.

The Project Manager from AE2S has reviewed both the payment application and Magney’s request to reduce retainage to 2%. Based on the current status of the project, we find this request to be reasonable and acceptable. The project has reached substantial completion, and per state statute: “After substantial completion, an owner or owner’s agent may withhold no more than: (1) 250 percent of the cost to correct or complete work known at the time of substantial completion; and (2) one percent of the value of the contract.” Based on discussions with Magney and city staff and our assessment of remaining work items, we believe the retainage remaining after reducing to 2% provides adequate protection for the City.  Magney has not requested any further reduction in retainage, so we support Ramsey proceeding with processing this payment application as submitted.

Adopt Resolution #26-085 approving partial payment #33 to Magney Construction, Inc. of Chanhassen, Minnesota, for Improvement Project #21-09; Centralized Water Treatment Plant, in the amount of $1,072,858.63.