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Council authorizes release of $767,408.40 durability retainer for Spring Leaf Townhomes
Summary
Council authorized the city engineer to release the Improvements Durability Retainer of $767,408.40 for Spring Leaf Townhomes, finding construction quality acceptable and no evidence of unusual depreciation.
The Council authorized release of the improvements durability retainer in the amount of $767,408.40 for Spring Leaf Townhomes (located at 900 East Pacific Drive), finding the quality of construction and materials have endured without evidence of unusual depreciation that would require remedial action.
Council Member Staci Carroll moved to authorize the city engineer to issue documents and/or payments to release the retainer; Council Member Ernie John seconded and the motion passed. Staff recorded the property address and the dollar amount in the minutes.
