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Central Drywall requests partial retainage reduction; working group to review before full PBC packet
Summary
Central Drywall requested a reduction in retainage to 2.5%; staff and the working group will discuss details with the contractor and, if a full retainage packet is needed, bring it to the full PBC for formal action in August.
Staff described a request from Central Drywall to reduce retainage to 2.5%. "I just got back. Let me talk to them before we formally request that," a staff member said, and the committee agreed that a working‑group discussion would precede any formal packet for full PBC approval. One committee member cautioned that a full retainage request would require a formal packet and that any reduction above the working group's authority would need approval at the August full PBC meeting.
Staff and committee members asked for the exact dollar amount represented by 2.5% (one member noted that 2.5% of the contract would be about $250,000) and agreed to follow up so the working group could recommend whether a formal packet should be prepared.
