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<br /> over budget, and at the March 2, 2021 BOCC Business meeting, the Board approved additional
<br /> funding through a combination of capital funding reallocation and a minor scope reduction to close
<br /> the budget gap of $1,807,160. Including the CMAR fee of $723,520, Orange County's portion of
<br /> the construction budget totaled $14,232,856. The total construction budget, including Carrboro's
<br /> portion, grew from $22,282,000 to $25,306,336. The cost overrun was attributed the escalating
<br /> costs associated with the parking deck. The Town of Carrboro did not incur a cost overrun at that
<br /> point in time. See the Chart #1, below for further detail:
<br /> Chart #1
<br /> 203 Project
<br /> Original Construction Budget Town Orange County Total
<br /> Construction 10,505,000 11,777,000 $22,282,000.00
<br /> CMAR Fee 568,480 723,520 $1,292,000.00
<br /> Total Const 11,073,480 12,500,520 $23,574,000.00
<br /> BOCC Schematic Budget Adjustment $1,807,160 $1,807,160.00
<br /> 14,307,680 $25,381,160.00
<br /> Scope Adjustment(Part of BOCC Change) -74,824 -$74,824.00
<br /> Revised Construction Budget(March 2021) $11,073,480 $14,232,856 $25,306,336.00
<br /> The project next proceeded into the Design Development (DD) phase of project design. Upon
<br /> completion of Design Development in May 2021, a new construction estimate was prepared and
<br /> the project was once again found to be significantly over budget. Another round of Value
<br /> Engineering (VE) ensued, additional modifications were made, and the project cost was brought
<br /> down within budget.
<br /> On February 4, 2022, a memorandum was sent to the BOCC and Carrboro Town Council
<br /> (Attachment 2)that provided a project bidding, approval and financing schedule. Per the schedule,
<br /> thirty-two bid packages were released for bidding on January 17, 2022 with received bids opened
<br /> on February 9, 2022. Unfortunately, several bid packages could not be opened on that date due
<br /> to insufficient bidding by members of the construction community.
<br /> Re-bidding of those deficient packages began on February 10, 2022 and were opened on
<br /> February 17, 2022. The tabulation of all of the bid packages has produced a tentative Guaranteed
<br /> Maximum Price of $34,692,067 (Attachment 3). This GMP is $9,385,731 over the March 2021
<br /> revised approved construction budget of$25,306,336. Orange County's share of the construction
<br /> costs rose from $14,232,856 to $19,202,063, an increase of $4,969,207 over the March 2021
<br /> budget adjustment. See Chart #2 below for more details:
<br /> Chart #2
<br /> Town Orange County Total
<br /> Revised Construction Budget(March 2021) $11,073,480.00 $14,232,856.00 $25,306,336.00
<br /> Project GMP(tentative) $15,490,004.00 $19,202,063.00 $34,692,067.00
<br /> Estimated Additional Funds Needed $4,416,524.00 $4,969,207.00 $9,385,731.00
<br /> The escalation of construction costs can be attributed to the unprecedented supply chain
<br /> disruptions and labor shortages associated with the ongoing COVID 19 pandemic. While all sub-
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