PRESENTER: Presenter
Debbie Kimball, Contract Administrator
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SUBJECT: Title
Approval of reassignment of a contract from Century Asphalt LLC to Texas Materials Group Inc.
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DEPARTMENT: Public Works
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COUNCIL DISTRICTS IMPACTED: Citywide
BACKGROUND INFORMATION:
Century Asphalt LLC was awarded a contract on May 28, 2019, as a provider of road construction materials, on an as-needed basis. The contract terms and conditions require City approval for a change of name (novation). Century Asphalt LLC provided confirmation documentation of their partnership interest assignment being transferred to Texas Materials Group Inc. effective July 30, 2021. City services have not been affected or disrupted by the transfer of ownership.
With this re-assignment, Texas Materials Group Inc. will formerly assume and agree to perform the obligations under the City’s existing contract. Texas Materials Group Inc. has committed to assuming the existing terms and conditions of the current contract.
ISSUE:
Strategic Priorities: Maintain fiscal stability of City operations
FISCAL IMPACT:
The contract reassignment will not have a budget impact.
Recommendation
RECOMMENDATION:
Staff recommends approval of reassignment of a contract from Century Asphalt LLC to Texas Materials Group Inc.