69 AGENDA ITEM BACKGROUND TO: GOVERNING BOARD DATE FROM: PRESIDENT November 7, 2011 SUBJECT: Ratification of Settlement: Arts Education Complex (AEC) Bond Project Litigation—Escrow Account REASON FOR BOARD CONSIDERATION ACTION ITEM NUMBER ENCLOSURE(S) Page 1 of 1 C.3 BACKGROUND: The Arts Education Classrooms project consists of five buildings totaling 122,300 square feet located at the intersection of Soquel Drive and Cabrillo College Drive. The final buildings of the complex were completed and occupied in 2009. A dispute arose between the district and a trade contractor over an escrow account balance. The dispute was settled in August, 2011. FISCAL IMPACT: $45,032 expense to Measure D, Series B RECOMMENDATION: It is recommended that the Governing Board accept the terms and ratify the Art Education Complex settlement as outlined above. Administrator Initiating Item: Joe Nugent Victoria Lewis Academic and Professional Matter If yes, Faculty Senate Agreement Senate President Signature Yes No Yes No Final Disposition Approved