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21.

Meeting Date:	03/14/2016
Retainer Release Payments
Submitted for:	Cassie Allred	Submitted By:	Cassie Allred
Department:	Self Help Center

Subject:

Discussion and possible action to authorize the release of 10% retainage payments to Bronze Builders for the following Self-Help Center Rehabilitation Projects. [Account #508-6500-7037-3 (Grant funds)]

Project Address	PO Number	Retainer Amount
7252 Enlace Rd.	16-0002458	$ 3,448.80
253 Los Altos Rd.	16-0002459	$ 2,348.20
131 W. Mendoza	16-0002502	$ 2,787.70

Issue: Ten percent (10%) of the total housing rehabilitation contract amount is held in retainage from the contractor for 30 days from the completion date of each project to insure that any deficiencies which may arise are addressed by the contractor.

Solution: Place the Agenda Item in order to release payment to the contractor for the retainage funds.

Result: The contractor will be paid for services rendered.

Background:

Each home listed above has been inspected by a third party inspector licensed by the Texas Real Estate Commission and a report has been submitted stating that the inspected home is free from deficiencies as required by the Texas Department of Housing and Community Affairs. The amounts have already been encumbered for these retainer payments.

Previous Court Action:

None

Fiscal Impact

Budget Account Number:	508-6500-7037-3
Funding Source:	508
Balance:	8,584.70
Financial Impact:
None Grant Funds.

Attachments
7252 Enlace Rd. Final Insp.
253 Los Altos Final Insp
131 W. Mendoza Final Insp.