| TO: | Honorable Mayor and City Council | | FROM: | Randy McKeegan, Finance Director | | DATE: | 6/3/2020 | | WARD: | | | SUBJECT: | Amendment No. 4 to Agreement No. 16-138 with Loop Electric Inc. ($100,000; revised not to exceed $910,920, and extend the term one year), for vehicle loop cutting and horizontal boring. | STAFF RECOMMENDATION:
Staff recommends approval of the amendment. | BACKGROUND:
In June 2016, the City Council approved the annual contract for vehicle loop cutting and horizontal boring service with Loop Electric Inc., in the amount of $285,920; renewable annually thereafter for four consecutive one-year periods. On June 7, 2017, City Council approved Amendment No. 1 extending the term one year and increasing compensation $200,000. On May 23, 2018, City Council approved Amendment No. 2 extending the term one year and increasing compensation $175,000. On May 22, 2019, City Council approved Amendment No. 3 extending the term one year and increasing compensation $150,000.
Currently, there is $160,000 available on this contract. If approved, Amendment No. 4 will extend the term one year and increase compensation $100,000 for a revised not to exceed amount of $910,920. Funds are budgeted in the General Fund and Capital Outlay Fund for this service. Approval of the amendment allows the City to continue to meet the demand for vehicle loop cutting and horizontal boring. |
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