TITLE: Title
The 203 Project Guaranteed Maximum Price
PURPOSE: The purpose of this item is to provide the Council with the cost to construct the 203 Building for consideration and approval.
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DEPARTMENT: Public Works, Finance, Planning
CONTACT INFORMATION: Ben Schmadeke, Capital Projects Manager, bschmadeke@carrboronc.gov, 919-918-7424, Arche McAdoo, Finance Director, amcadoo@carrboronc.gov, 919-918-7439, Trish McGuire, Planning Director, pmcguire@carrbornc.gov, 919-918-7327
INFORMATION: The 203 Project has been bid and Barnhill Contracting Company, the Town's Construction Manager at Risk, has developed a Guaranteed Maximum Price (GMP) for construction of the building. The final GMP, as detailed in Attachment 1, will be the contract value awarded to Barnhill Contracting Company and will be used to obtain project financing and Local Government Commission (LGC) approval. Other project costs outside of direct construction costs are detailed in Attachment 2, Total Project Budget and are reflected in Attachment 3, Amended Project Ordinance. This total project budget includes provisions for Furnishings, Fixtures and Equipment (FFE), and owner's contingency. Further explanation of these costs is detailed below.
Furnishings, Fixtures and Equipment (FFE): These are costs associated with furnishing the building and providing the IT, security, and other equipment necessary to operate the building and make use of the building programming. This budget also includes funds to install solar photovoltaic panels on the building.
Owner's Contingency: This is a Town controlled budget to account for unforeseen design changes and other challenges that arise during construction that fall outside of the Construction Manager's scope of work. If these funds are not used, they will return to the Town's General Fund.
Based on comments from the Orange County Board of Commissioners, staff have investigated options to reduce the County's project cost through a r...
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