ADMINISTRATIVE REPORT
MEETING DATE: February 12, 2025 AGENDA CATEGORY: Consent – Agreements TO: Honorable Mayor and City Council
FROM: Kristina Budak, Water Director
DATE: January 31, 2025
SUBJECT: Amendment No. 1 to Agreement No. 2024-277 with Unified Field Services Corporation to establish an escrow account in lieu of retention. (Ward 4)
RECOMMENDATION:
Staff recommends approval of amendment.
BACKGROUND:
On October 23, 2024, City entered into Agreement No. 2024-277 with Unified Field Services Corporation (Unified) for the construction of the CBK-25 PFAS Removal Project. On December 12, 2024, during the pre-construction meeting, Unified requested to use an escrow account for security deposits in lieu of the City's five percent retention.
This amendment acknowledges the escrow account and establishes the escrow agreement between the City and Unified.
FISCAL IMPACT:
This amendment does not have any monetary impact on the Agreement, therefore there will be no impact to the General Fund.
COUNCIL GOAL:
Reliable Infrastructure
ATTACHMENTS:
1. Amendment No. 1
2. Escrow Agreement