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Resolution of the Mayor and Council of Princeton Authorizing Final Closeout and Final Payment in the Amount of $25,698.60 to Maarv Waterproofing Inc. for the 2023 Spring Street Garage Repair Program
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WHEREAS, pursuant to duly advertised Notice to Bidders in accordance with the New Jersey Public Contracts Law, N.J.S.A. 40A:11-1 et seq., nine bids were received and a construction contract awarded to Maarv Waterproofing Inc. the 2023 Spring Street Garage Repair Program, Princeton, New Jersey for a contract amount of one million one hundred ten thousand dollars. ($1,110,000.00); and
WHEREAS, Change Order 1 for five thousand nine hundred dollars ($5,900.00) was approved by Resolution 25-115 on March 24, 2025, by Administration and Council for additional repairs to be completed, increasing the total contract amount to one million one hundred fifteen thousand nine hundred dollars ($1,115,900.00); and
WHEREAS, Maarv Waterproofing Inc. was not able to complete the additional repairs as outlined in the Change Order, the Engineering Department proceeded with the decision to close out the project; and
WHEREAS, the Engineering Department advises that the project construction is complete and calculates the final payment to be twenty-eight thousand twenty-eight dollars and sixty cents ($28,028.60), resulting in a total project cost of one million one hundred twelve thousand three hundred thirty dollars ($1,112,330.00), and recommend the release of retainage and performance bond #0830282 to Maarv Waterproofing Inc., as the Consent of Surety and Warranties have been received.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and Council of Princeton hereby approves the final payment in the amount of $28,028.60 for the 2023 Spring Street Garage Repair Program in Princeton, New Jersey. The final revised contract amount shall be one million one hundred twelve thousand three hundred thirty dollars ($1,112,330.00).
BE IT FURTHER RESOLVED by the Mayor and Cou...
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