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TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Item 4.5. <br /> <br /> MEMORANDUM <br /> <br />Mayor and City Council <br /> <br />Lori Johnson, Finance Director <br /> <br />April 19, 2004 <br /> <br />Update by Howard Roston on Oakwood Builders' Contract and <br />St. Paul Companies' Bond for City HalI/ERMU Building Project <br /> <br />Howard Roston will be present on Monday to update the Council on the status of the <br />outstanding matter with St. Paul Companies that has resulted because Oakwood Builders, <br />the masonry contractor on the building project, defaulted on its contract. Several weeks ago <br />you received a letter from Mr. Roston briefly outlining the options available to the city to <br />settle this issue. Additional financial information regarding the original contract and the <br />payments made under the performance bond will be presented at the meeting. <br /> <br />Action Requested <br />Following discussion and the presentation of additional information, the Council is asked to <br />give staff and the attorney direction on how it would like to proceed with this issue. <br /> <br />S:~CouncilNLori~2004\ StPaulCo.doc <br /> <br /> <br />