Board Agenda - August 07, 2007

3. Schell Elementary School, #1 and project close out

Presenter: Richard Matkin

Purpose: A - Request decision - closure required

Time: No time limit

Description:

This Change Order reconciles the allowance balance remaining in the project. The contract initially included allowance amounts to facilitate the expedited construction start for this new facility. Issues were resolved in a satisfactory manner, and the allowance amounts are being returned. Also, contributing to this final cost are sub-contract buy-out savings, and a reduction in the Construction Manager's fee due to the reduction in cost.

The Work of this Contract has been completed. The required closeout documentation is being completed, and the Project is ready for Final Acceptance.

Summary:
Original Contract Amount: $ 11,950,471.00
Previous approved Change Orders: $ 0.00
Contract Amount prior to this Change Order: $ 11,950,471.00
This Change Order amount: $ (504,261.00)
Contract Amount after this Change Order: $ 11,446,210.00

Recommendation:

The Administration recommends that Change Order No. 1 in the deductive amount of $504,261.00 be approved. The Architect has reviewed this Change Order, and they concur with the amount. Also, the Administration recommends that the work for the Schell Elementary School be accepted, and that final payment, including the release of retainage, be made to Cadence McShane.

Business Impact:

Estimated Value: ($504,261.00)
Budget/Financial Implication: Bond; Reimbursement Resolution

Summary:

Appendix:

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