Cascade approves pay application for library project; $144,009.36 remains as retainage

The Cascade City Council on March 24 approved Resolution No. 34-25, accepting pay application No. 14 for the Cascade Public Library project and leaving $144,009.36 as retainage. The council approved the resolution by roll call after staff described the remaining balance as retainage tied to outstanding work and a contingency credit.

Deanna, a city staff member, told the council that the remaining $144,009.36 is essentially retainage and will not be disbursed until the items that remain to be completed at the library have been addressed. "So, we have a hundred and $44,009.36 left and that's basically retainage. So, we won't do that until we make sure that everything that needs to be done at the library has been done," she said.

Councilmembers asked whether work was underway to address outstanding items; staff said contractors and crews have been addressing punch-list items and that a final walkthrough will be scheduled before the city accepts the project in full. The pay application also reflects a contingency credit that reduces the contract price and therefore is included in the payment application paperwork.

Motion to approve Resolution No. 34-25 was made and seconded by councilmembers; a roll-call vote recorded the ayes and the resolution passed. The council directed that a final walk-through will be scheduled when staff determines outstanding items have been completed.