AGENDA ITEM SUMMARY
Approve the withdrawal of up to $245,000 from the MEAG Competitive Trust, Short Term Portfolio and amend the budget accordingly for completion of the Griffin Power Line Construction and Technical Services facility being constructed at the former Thomas Packing site. Electric Director Bill Bosch will address.
| SPECIAL CONSIDERATIONS OR CONCERNS: |
This will provide for the final payments to the contractor, Renfroe Construction, required IT equipment and cabling, and warehouse shelving. With this withdrawal, the project will be completed under budget and ahead of schedule.
Staff recommends approval.
This will reduce the balance in the Short Term Portfolio by $245,000 and bring the project in under the budget projection of $2,645,000. A budget amendment to cover this contingency is attached. |