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FINAL ACCEPTANCE AND FINAL PAYMENT OF CONTRACT NO. K-1314-28 BY AND BETWEEN THE CITY OF NORMAN, OKLAHOMA, AND DOWNEY CONSTRUCTION COMPANY, INC., FOR THE SAXON PARK ROAD, PARKING, AND TRAIL CONSTRUCTION PROJECT.
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BACKGROUND: On 27 August 2013, City Council approved Contract No. K-1314-28 with Downey Construction Company, Inc., for the Saxon Park Road, Parking and Trail Construction Project in the amount of $233,782.63. At that time, City Council also accepted a Recreational Trails Grant from the Oklahoma Tourism and Recreation Department in the amount of $160,000 towards the cost of this project. Further, City Council appropriated $40,360 from the Community Park Development Fund Balance to the Saxon Park Development account for a total expenditure of $73,782.63 of City funding towards this project.
This project consisted of constructing a cross-country course including an entry road, parking area, trail surfacing and trail head.
DISCUSSION: Partial payments have been made during the duration of the Saxon Park Road, Parking and Trail Construction Project leaving a current balance of $11,689.13.
On 22 October 2014, staff inspected the Saxon Park Project, found it to be complete per specifications and recommends that City Council accept it as complete and authorize final payment.
RECOMMENDATION: It is recommended that City Council accept the John H. Saxon Park Road, Parking and Trail Construction Project and authorize final payment in the amount of $11,689.13 to Downey Construction Company, Inc. Funding for the project was used from the following accounts:
Project No. PC0003 - Saxon Park Design and Improvements
Special Revenue Fund (022-9674-452.61-01) $160,000
Park Land Fund (052-9674-452.6-101) $ 73,782.63