Title
Discussion and action on NAICO Settlement for Airfield Pavement Rehabilitation
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SUMMARY: The National American Insurance Company (performance bonding company for Cantrell Construction) has proposed the attached “Settlement Agreement” which includes payment for damages in the amount of $76,984.07 and no payments to Cantrell Construction.
City staff has calculated the City’s damages at $76,984.07 as detailed below:
Cantrell’s Original Bid $608,130.00
Axtells’ Rebid $661,452.50
Atkins’ additional engineering fees -$20,637.00
Total Contracted Damages -$ 73,959.50
Additional Work Performed by the City:
Removal of flowable fill and replace with Concrete -$2,334.30
Temporary 4 inch taxi line -$690.27
Total Damages = $76,984.07
BUDGET ACCOUNT:110-33477
Recommended Action
NECESSARY COUNCIL ACTION: Approve settlement agreement