City Council

1.f Acceptance of Construction Work and Notice of Completion for the Wayfinding Signage\nProject Phase IV, City Project No. 24104\nFiscal Impact:\nExpense: $326,472.50 Original Construction Contract\nBudgeted: $500,000.00 FY 2023-24 & FY 2024-25 CIP Budget\nRecommended Action: It is recommended that the City Council:\n1. Accept the work performed by Monarka Development Corporation, for construction of\nthe Intersection Street Name Sign Project (Wayfinding Project Phase IV), City Project\nNo. 24104 for a grand total amount of $326,472.50; and\n2. Authorize the City Administrator to file a Notice of Completion with the Orange County\nClerk-Recorder’s Office for the Project; and\nhttps://granicus_production_attachments.s3.amazonaws.com/placentia/91c45c5ae64b320e35bac5f60281cb2c0.html 4/6\n10/11/24, 12:47 PM Agenda\n3. Authorize the City Administrator to release retention funds in accordance with the\nterms of the contract.