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29 <br /> 1 Bidding and Value Engineering <br /> 2 -850 Firms Solicited <br /> 3 -36 Bid Packages <br /> 4 0 19 Bid Packages Customized for Small and Minority Owned Businesses <br /> 5 -21% of Cost of Work Contracted to Minority Owned Businesses <br /> 6 ■ State Requirement is 10% <br /> 7 -$466,000 Value Engineering Reductions Identified <br /> 8 <br /> 9 Northern Campus Guaranteed Maximum Price <br /> 10 <br /> Guaranteed Maximum Price Components <br /> Subcontractor Bids— Cost of Work $ 30,154,056 <br /> Subcontractor Allowances $ 1,115,891 <br /> I <br /> General Conditions $ 1,184,693 <br /> CM Allowances and Tap Fees $ 533,000 <br /> Building Permit $ 81,000 <br /> Owner's Contingency— Owner Directed Changes I $ 600,000 <br /> CMAR Contingency— Unknown Project Costs (2%) $ 625,399 <br /> Early Completion Bonus — 1% Cost of Work $ 342,940 <br /> CMAR FEE — 3.75% Cost of Work I $ 1,286,026 <br /> Bonds and Insurance— 1.2% Cost of Work $ 431,077 <br /> TOTAL GUARANTEED MAXIMUM PRICE $ 36,354,082 <br /> 11 <br /> 12 <br /> 13 Northern Campus Development Budget Comparison <br /> 14 <br /> Budget Model #1 with Cost Controls <br /> Subcontractor Bids $ 30,154,056 $ 30,154,056 <br />