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City of <br />Elk. <br />River <br />REQUEST FOR ACTION <br />To Item Number <br />EDA 3.5 <br />Agenda Section Meeting Date Prepared by <br />Consent November 10, 2008 Tim Simon, Finance Director <br />Item Description Reviewed by <br />estimates -YMCA project <br />Pa <br />y <br /> Reviewed by <br />Action Requested <br />The Economic Development Authority (EDA) is asked to approve the pay estimate as stated below. <br />Back;;round/Discussion <br />Below is a pay estimate submitted for approval for the YMCA project. This pay estimate has been <br />reviewed and approved by RJM construction, architect (BWBR) or department head in charge of the <br />project. <br />Due to the structure of the bond sale the EDA maintains a project fund and debt service fund for the <br />recreation facility project. The construction payments will be approved by the EDA and the City <br />Council. <br />Financial Impact <br />Pay Est. <br />Proiect No. Contractor Amount <br />YMCA project* 13 RJM Construction $265,674 <br />* Will be reviewed by the City Council on November 17, 2008. <br />Attachments <br />^ Pay estimates for the above project <br />Project budget vs. actual <br />Action Motion by Second by Vote <br />Follow Up <br />S: \Council\Tim\2008\EDAPayestimateYMCr1# 13. doc <br />