RESOLUTION 90-19878 RESOLUTION NO. 90-19878
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, TO AUTHORIZE THE
CITY MANAGER TO REDUCE THE RETENTION HELD FROM
GEORGE HYMAN CONSTRUCTION COMPANY ON PHASE II
OF THE CONVENTION CENTER EXPANSION PROJECT
FROM TEN PERCENT TO FIVE PERCENT, AND TO PAY
TO GEORGE HYMAN CONSTRUCTION COMPANY AN AMOUNT
OF $589,814 AS A REDUCTION IN THE RETENTION
FROM TEN PERCENT TO FIVE PERCENT FOR PHASE II
OF THE CONTRACT FOR THE CITY OF MIAMI BEACH
CONVENTION CENTER EXPANSION PROJECT.
WHEREAS, the Contract documents between the City of Miami
Beach (the "City") and the George Hyman Construction Company for
Phase II of the Convention Center Expansion Project allow the City
to retain ten percent of the construction cost until completion;
and,
WHEREAS, the City is currently holding the sum of $1,179, 629
or ten percent retention for Phase II; and,
WHEREAS, the construction of the Phase II portion of the
Convention Center is nearing completion; and,
WHEREAS, it is felt by the Administration that the reduction
of the retention is in the best interest of the City, as an
incentive to the contractor and for a timely completion.
NOW, THEREFORE, be it resolved by the City Commission of the
City of Miami Beach, Florida, that the City Manager is hereby
authorized to reduce the retention for the Phase II portion of the
Contract between the City of Miami Beach and the George Hyman
Construction Company for the Convention Center Expansion Project
from ten percent to five percent, resulting in a release of
$589,814 .
PASSED and ADOPTED this 17th day of January , 1990.
4101111
Vice-Mayor
Attest:
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City Clerk
Form Approved:
Legal Department
Dated: ,///f/Ore
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FLORIDA 3 3 1 3 9
* INCORPORATED)*r' "VACAT1ONLAND U. S. A. '
OFFICE OF THE CITY MANAGER CITY HALL
ROB W.PARKINS 1700 CONVENTION CENTER DRIVE
CITY MANAGER TELEPHONE: 673-7010
NO. 3L-qaC
OMMISSION MEMORANDUM
January 17 , 1990
DATE:
TO: Mayor Alex Daoud .
Members of t - ity Commis• o
FROM: Rob W. Park s
City Manager
SUBJECT: REDUCTION OF RETENTION FOR PHASE II PORTION OF CONTRACT
BETWEEN THE CITY OF MIAMI BEACH AND GEORGE HYMAN
CONSTRUCTION COMPANY FOR THE CITY OF MIAMI BEACH
CONVENTION CENTER
The Contract documents for the Convention Center for Phase I
and Phase II grant the City the right to withhold ten percent of
the cost of construction until completion of the job. During Phase
I the Contractor requested, about two-thirds of the way through the
project, that the retention be reduced from ten percent to five
percent. This request was approved by the City Commission for
Phase I.
We are in the final stages of construction of Phase II, and d
feel it would be in the City's best interest to allow a reduction
from ten percent to five percent for Phase II. At the present time
the City holds as retention $1,179,629 . If approved, the retention
would be reduced to five percent or approximately $589,815 which
would not be paid to the contractor until Phase II is completed.
ADMINISTRATION RECOMMENDATION
It is the recommendation of the Administration, that the
retention provision of the Contract with George Hyman Construction
Company for Phase II of the Convention Center be reduced from ten
percent to five percent.
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6
AGENDA I
ITEM r
DATE
- J7- 96
ORIGINAL
RESOLUTT_ON NO. 90-19878
To authorize the City Manager to reduce
the retention held from George Hyman Con-
struction Company on Phase II of the Con-
vention Center Expansion Project from ten
percent to five percent, and to pay to
George Hyman Construction Company an
amount of $589,814 as a reduction in the
retention from ten percent to five percent
for Phase II of the contract for the
C.M.B. Convention Center Expansion Project