The Community Redevelopment Agency approved a settlement and release agreement with Ulrich Construction totaling $700,000 to resolve claims related to the stalled Art Squared public-art project and allow the project to move forward later this year.

CRA staff presented the agreement to the board and said the settlement releases both parties from claims related to the project. The staff report noted that just under $200,000 of the settlement represented retainage that was already due to the contractor.

Commissioner David Rose moved approval of the settlement; Commissioner Sheehan seconded the motion and the board approved it during the CRA portion of the meeting. CRA staff said the settlement is intended to clear legal claims and permit the agency to restart the project on a new schedule.

The settlement amount and the release permit the CRA to proceed with contract solicitations or new procurement to complete Art Squared; staff advised they hope to restart the project later this year. For contract details and related procurement documents, refer to the CRA agenda packet or contact CRA staff.