City of Monticello, Iowa
RESOLUTION #2025-170
Approving Pay Request #4 for partial payment of retainage to
Roger Stephen, Re: Stephen Addition Trunk Sewer
Project in the amount of $112,711.86
WHEREAS, the City of Monticello, Iowa is an incorporated city within Jones County, Iowa; and
WHEREAS, the Council entered into an agreement (the “Development Agreement”) with Roger Stephen (the “Developer”) with respect to the construction of a regional sanitary sewer improvement, from Kitty Creek extending westerly to South Main Street, in the City of Monticello, County of Jones, State of Iowa, with Resolution #2025-99 dated July 21, 2025 and
WHEREAS, the Development Agreement would provide financial incentives to the Developer in the form of payments for a portion of the public infrastructure necessary to construct the subdivision, and
WHEREAS, Roger Stephen has been paid for their work for the section from Pay Request #1, with the exception of the retainage of 30% that has been held by the City, and that the City Engineer has recommended approval of said Pay Request #4 for partial retainage payment request, as the work for this section has been completed and tested, same reflecting the maintenance of a 5% retainer in the cumulative amount of $22,42.37, and
WHEREAS, The Council finds that the partial retainage should be paid at this time. With the remaining 5% retainage to be held pending the receipt of a lien waivers, and other paperwork was filed with Snyder & Associates, and
NOW THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby approve Pay Request #4 for the partial retainage pay request from Pay Request #1 from Roger Stephen in the amount of $112,711.86, same reflecting the maintenance of a 5% retainer for Pay Request #1 in the amount of $22,542.37 and a 30% retainer for Pay Request #2 & 3 in the amount of $178,824.09, with the cumulative amount of $201,366.46.
IN THE TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal for the City of Monticello, Iowa to be affixed. Done this 1st day of December 2025.
Wayne Peach, Mayor
Attest:
Sally Hinrichsen, City Clerk/Treasurer