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27 <br /> 1 <br /> 2 At the end of the construction project, any unspent owner contingency funds or allowances are <br /> 3 retained by the County. If any amount of the Construction Manager contingency is unspent, <br /> 4 seventy percent (70%) is retained by the County, and thirty percent (30%) is shared with the <br /> 5 construction manager as an incentive to avoid unnecessary construction costs. <br /> 6 <br /> 7 The GMP is one of the required elements to seek approval from the Local Government <br /> 8 Commission (LGC) to borrow money for the project. LGC approval is scheduled for October 1, <br /> 9 and approximately $10 million of the total project costs are recommended for financing in the <br /> 10 Fall financing package based on cash flow needs. <br /> 11 <br /> 12 Bordeaux Construction has requested a notice to proceed on the initial site work and long lead <br /> 13 time materials immediately following acceptance of the GMP in order to avoid winter site <br /> 14 conditions and remain on schedule for project delivery. As a result, the proposed GMP is <br /> 15 recommended in two parts. The first part (GMP #1) is $10,019,850 million would be allowed to <br /> 16 proceed prior to formal approval by the LGC on October 1. This strategy has precedent and <br /> 17 poses minimal risk to the County. The notice to proceed for the balance of the project (GMP #2) <br /> 18 totaling $26,334,232 would occur following formal approval by the LGC as the construction <br /> 19 schedule dictates. <br /> 20 <br /> 21 FINANCIAL IMPACT: The Board of Commissioners authorized a total project budget of$40.2 <br /> 22 million. Given a GMP of$36.4 million, projected professional fees of approximately $3.3 million, <br /> 23 and a furniture, fixtures, and equipment budget of$625,000, the project is expected to be on <br /> 24 budget assuming that contingency funds and other allowances are not entirely exhausted during <br /> 25 construction. <br /> 26 <br /> 27 Travis Myren made the following PowerPoint presentation: <br /> 28 <br /> 29 Northern County Campus <br /> 30 Guaranteed Maximum Price <br /> 31 Board of Orange County Commissioners <br /> 32 September 3, 2019 <br /> 33 <br /> 34 Purpose <br /> 35 To accept a Guaranteed Maximum Price (GMP) of$36,354,082 as presented by <br /> 36 Bordeaux Construction for the development of the Orange County Northern Campus. <br /> 37 <br /> 38 Northern County Campus Schedule (flow chart) <br /> 39 <br /> 40 Northern Campus Revised Site Plan <br /> 41 <br /> 42 Northern Campus Revised Site Plan <br /> 43 Site plan changes since schematic design <br /> 44 — Land Swap <br /> 45 • Finalized to Straighten Eastern Property Line <br /> 46 — West Hill Connector <br /> 47 Removed from Phase 1 for Cost and Scheduling Purposes <br /> 48 — Recombination of Parcels <br /> 49 Remove Splits <br /> 50 <br />