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Casey approves pay estimate and loan draws for Water Main Improvement Project; accepts SRF forgiveness
Summary
The council accepted an estimated $291,000 SRF loan forgiveness, approved pay estimate #5 for Max Smith Construction LLC as presented, and authorized CDBG and SRF draw requests to fund recent project work.
At the June 2 meeting, the Casey City Council advanced payments and funding for the Water Main Improvement Project following an update from Jordan Kappos of Veenstra & Kimm Inc.
Kappos reported that water lines and services are in place and contractors were finishing seeding and road repairs. He presented pay estimate #5 for Max Smith Construction LLC and informed the council of an estimated State Revolving Fund (SRF) loan forgiveness amount of $291,000.
The council voted to accept the SRF loan forgiveness agreement (motion by Rick Richter, second by Bret Wedemeyer; all ayes) and approved pay estimate #5 for Max Smith Construction LLC (motion by Bret Wedemeyer, second by Theresa Schiller; all ayes). The minutes record the pay estimate presented in Kappos’s update as $136,873.12.
Separately in the meeting record, the consent/claims listing includes an entry for Max Smith Construction LLC described as "Wtr Main Proj Draw #5" for $78,315.28 in the claims list. The minutes therefore show both a claims listing entry and a project pay estimate in different parts of the document; the council's formal approval at the project presentation was to the pay estimate as presented by the consultant.
Council also approved a Community Development Block Grant (CDBG) Water Main Project GAX #6 draw request for $83,356.00 (motion by Theresa Schiller, second by Bret Wedemeyer; all ayes) and an SRF loan distribution request claim draw #6 for $57,651.42 (motion by Rick Richter, second by Bret Wedemeyer; all ayes).
The approved draws and pay estimates fund contractor payments and project closeout activities; the council recorded acceptance of SRF forgiveness to reduce the community's loan obligation for the project.
