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Board approves tender agreement to resume stalled road projects after contractor default
Summary
Trustees authorized a tender agreement with the bond/surety company to select a replacement contractor and complete resurfacing projects (Camp Ranch Road, Greenland/Chinook, Albert Gray Road) after the original contractor defaulted and filed for bankruptcy.
Staff presented a tender agreement with the developer surety/bond company to complete stalled resurfacing projects after the original contractor defaulted and filed for bankruptcy. Under the tender agreement, the bond company will select a replacement contractor and the town will approve that contractor, allowing work to resume without restarting an entire bidding process.
"This one had been in progress for months... the original contractor defaulted on the project. He filed for bankruptcy. The bond with the company just came over and took over the project," the Planner said, explaining the tender agreement is designed to expedite completion and keep the town from restarting procurement. Legal staff added that once the bond company authorizes the process, the town can move forward and the agreement authorizes the town administrator to execute final documents.
Trustees discussed retaining approval authority over final terms and asked staff to plug in bond numbers before execution. A motion to approve the tender agreement was made and seconded and trustees authorized the administrator to execute the agreement following finalization of terms.
