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Meeting Date:	06/12/2023
Self-Help Center Retainage Payment - Midas Contractors
Submitted for:	Cassie Allred	Submitted By:	Cassie Allred
Department:	Community Action Agency

Subject:

Discussion and possible action to authorize the release of the 10% retainer payment to Midas Contractors, in the amount of $6,920 contingent upon the completion of the required 30 day waiting period for the project located at 312 Milagro St., Pueblo Nuevo Subdivision. This activity is grant funded and will not impact the County's General Fund.

Issue: Ten percent of the housing rehabilitation project is held in retainer for 30 days from the completion date of each project, to ensure that any deficiencies which may arise are addressed by the contractor. Contract amount is $69,200 and the retainer amount is $6,920.

Solution: Commissioners Court authorizes the release of the retainer funds to the contractor.

Result: The contractor will be paid the remaining retainer balance.

Background:

The project has been inspected by a Qualified Inspector approved by the Texas Department of Housing and Community Affairs to ensure that the home meets minimum required standards and is free from deficiencies.

Previous Court Action:

None

Fiscal Impact

Budget Account Number:	2529-206000
Funding Source:	2529
Balance:	6,920
Financial Impact:
No Impact-Grant Funded