Newport Beach

City Council

March 26, 2024 Item #4

Agenda Item 4

4. Underground Utility Assessment District No. 111, Underground Utilities\nDistrict No. 22 Phase 2 & 3, & Utility Undergrounding for McFadden Alleys\nand Court Street - Notice of Completion for Contract No. 7833-1 (21A11)\na) Accept the completed work and authorize the City Clerk to file a Notice of\nCompletion for the project;\nb) Authorize the City Clerk to release the Labor and Materials Bond 65 days after\nthe Notice of Completion has been recorded in accordance with applicable portions\nof Civil Code;\nc) Release Faithful Performance Bond one year after acceptance by the City\nCouncil;\nd) Authorize staff to proceed with the final Verizon additional work and increase\nproject contingency from $3,500,000 to $3,595,003 (approximately 51.6 percent of\nthe contract award) to cover the additional cost of the requested additional work; and\ne) Approve Budget Amendment No. 24-058 recognizing $31,872.75 in contribution\nrevenue from Crown Castle to Account No. 13501-561007-21A11 and $159,250.85\nin increased expenditures in Account No. 13501-980000-21A11 (UUD22-1 CIP\nExpenditures for GL) from multiple utility companies.\nStaff Report\nAttachment A - Location Map\nAttachment B - Budget Amendment\nMarch 26, 2024