OTHERAPPROVED

Bond Reduction Approved for Somerville Urban Renewal Phase III

The Borough Council approved a reduction of performance and cash bonds for Somerville Urban Renewal Phase III, LLC, related to the Town Center Phase 3 project, following completed improvements as validated by CHA Consultants.

Document date · December 16, 2024

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Estimated Amount $185,882.00; 120% of Site Improvements $223,058.40; 10% Cash Bond Amount reduced from $22,305.84 to $6,691.75; Performance Bond Amount reduced from $200,752.56 to $60,225.77
Contract type
OTHER
Renewal
Reduces required bonding; no term or explicit renewal involved.
Document type
Agenda
Source document
borough-of-somerville-agenda-2024-12-16_6c0.pdf

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by Borough of Somerville?

Somerville Urban Renewal Phase Iii Llc was awarded this government contract by Borough of Somerville, as recorded on December 16, 2024. The contract value is Estimated Amount $185,882.00; 120% of Site Improvements $223,058.40; 10% Cash Bond Amount reduced from $22,305.84 to $6,691.75; Performance Bond Amount reduced from $200,752.56 to $60,225.77.

How much is the Somerville Urban Renewal Phase Iii Llc contract with Borough of Somerville worth?

The Somerville Urban Renewal Phase Iii Llc contract with Borough of Somerville is valued at Estimated Amount $185,882.00; 120% of Site Improvements $223,058.40; 10% Cash Bond Amount reduced from $22,305.84 to $6,691.75; Performance Bond Amount reduced from $200,752.56 to $60,225.77.

What type of contract is this?

This is a government contract, documented as a agenda record.

Where was this contract approved?

This contract appears in borough-of-somerville-agenda-2024-12-16_6c0.pdf (Agenda), dated December 16, 2024 from Borough of Somerville. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Somerville Urban Renewal Phase Iii Llc hold?

Somerville Urban Renewal Phase Iii Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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