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Council approves $341,527 CPE Phase 2 biological monitoring for Jenks Creek realignment; HOA to escrow funds
Summary
Council approved a $341,527 Coastal Protection Engineering Phase 2 scope for biological monitoring tied to the Jenks Creek realignment; finance director said the Palm Cove HOA must deposit escrowed funds (125%) before CPE will receive contract.
The Town of Sunset Beach Council approved a service agreement to move Coastal Protection Engineering (CPE) into Phase 2 of the Jenks Creek realignment project. Staff said Phase 2 covers biological monitoring and carries a total cost of $341,527, with an additional task 3 contingency of $17,400 if needed by final design. Under the terms presented, the Palm Cove Owners Association will be responsible for paying the Phase 2 funds per the MOA.
"If you approve to move forward with the next phase, then we let them know that you're moving forward, and they deposit that into at a 125% from, into the escrow," Finance Director Tara Nichols (speaker 8) explained, describing the town's escrow requirements for the contract.
Council moved and approved the agreement by voice vote. Staff noted that phase payments are deposited into escrow in phases and that CPE will not be contracted until escrowed funds are in place; if grant money later becomes available the HOA may be reimbursed per prior agreements.
