HomeMy WebLinkAbout1989-07-03MINUTES OF SPECIAL TOWN BOARD IoIEETL`iG HELD ON MONDAY, JULY 3, 1989 AT 8:00 AM
Those present at 8 :00AM: Teresa M. Robinson, Supervisor
Ellard L. Sovocool, Councilman
Carl E. Haynes, Councilman
Jack Fitzgerald, Attorney
Absent: Donald E. Cummings, Councilman
Absent: Gordon C. VanBenschoten, Councilman
Also present: Michael Hovanec of Uni -Cor Contractors
Purpose of meeting was to discuss financika'status of Uni -Cor Contractors.
Mike Hovanec explained to board that Uni -Cor is having financial problems
and will probably file for Chapter 11. If they could get an advancement •
of $20,000.00 from the Town they could be on the job Wednesday. Money is
needed for expenses incurred last week and this weeks payroll. Completion
is expected in two weeks. Uni -Cor underbid project by approximately $65,000.
An oversight of masonry work ranging from 20 -30 thousand dollars was one of
the reasons. Uni -Cor wrote the Town Board requesting their consideration of
an additional payment of $20,000 to help defray this oversight. Bonding
Company is Fidelity and Deposit out of Maryland with Agent in Lafayette.
Mike has no idea how bonding company will handle. He assured Town that if
he could get $20,000 before Wednesday, his men would be on the job.
Town Board Members and Attorney discussed Uni -Cor's financial problems and.
the possibility of them filing bankruptcy and the Bonding Company taking
over. Project could be held up for some time. According to Contractor's,
project could be very near completion in two weeks with the exception of
site work. Alternatives are: 1) Proceed with $20,000 payment or 2) Close
job down and turn over to Bonding Company.
*See RESOLUTION :NO. 14 AUTHORIZATION TO TRANSFER $100,000 INTO
Res, 137 CAPITAL RESERVE FUND
Moved by Mr. Haynes, seconded by Air. Sovocool
Ayes - Haynes, Sovocool, Robinson
Absent - Cummings, VanBenschoten
RESOLVED, that the Supervisor be authorized to transfer $50,000 from
General Fund A and $50,000 from Highway Fund DA, excess monies, to
the Capital Reserve Fund.
Moved by Mr. Sovocool, seconded by Air. Haynes, to recess meeting until
12 Noon so that other two board members could be present.
Board meeting recessed at 10:00 A.M.
Board meeting reconvened at 12 Noon.
Those present : Teresa Robinson, Carl Haynes, Donald Cummings, Jack Fitzgerald
Discussed further Uni -Cor's request for $20,000.00 immediately so that job
could continue on Wednesday.
RESOLUTION NO. 3� - AUTHORIZE $20,000.00 ADVANCE PA=4IT TO
UNI -COR CONTRACTORS INC.
Moved by Mr. Haynes, seconded by Mr. Cummings •
Ayes - Cummings, Haynes, Robinson Ll � �
3G
Absent - VanBenschoten, Sovocool
RESOLVED, that the Town Board of the Town of Groton does hereby authorize
the advance payment of $20,000.00 to Uni -Cor Contractors Inc. to be
deducted from their payment request #'6.
There being
no
further business,
Mr.
Haynes moved to adjourn meeting,
seconded by
Mr.
Cummings, at
1 :00
P.M.
Unanimous
Colleen D. Pierson
Town Clerk