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�7�~ � Yd <br /> ORANGE COUNTY �� ^ <br /> BOARD OF COMMISSIONERS Action Agenda <br /> ACTION aGEZA ITEM AasTrmCT Ibam No.D__l <br /> PZETEmG DATE November 16, 1982 _ <br /> _ <br /> Subject: Reduce Retainage on Jail Project from 10% to 5% <br /> L— - <br /> t: Tounty mmnager | yes_�__ no <br /> Information Contact: <br /> Bill Laws <br /> Yes ^ 732-8181 ext. 503 <br /> PURPOSE: To consider request by Security Building Company for a reduction of their <br /> retainage from ten to five percent. <br /> NEED: The only way the retainage could be reduced would be an amendment to the <br /> contract signed by both the County and the building contractor. <br /> Bases for considering approval of the change are: <br /> 1. The County has occupied the Phase I portion with no substantial <br /> deficiencies yet remaining to be corrected. <br /> 2. Completion of Phase II will be within 60 to 90 days' <br /> See letters from Architect. <br /> IMPACT: The amount of the retainage reduction, if the request were granted' would be 523 .1 <br /> This is only the retainage for Security Building Company. There are four <br /> other contractors who could similarly ask for their retainage to be reduced <br /> to 5%. <br /> R[COMMEHDATD}N(5) : <br /> Approve the request. <br />