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12 <br /> 1 <br /> 2 Option 2: Delete the Orange County Skills Development Center from the project with a <br /> 3 more comprehensive redesign. <br /> 4 <br /> 5 This option would take the design back to a conceptual phase but could result in greater cost <br /> 6 savings due to the opportunity to utilize a pre-cast parking deck. Additional public hearings and <br /> 7 design approvals would be required. The time for redesign with associated approvals is <br /> 8 estimated to be fourteen months plus an additional three months for permitting and bidding. <br /> 9 Design and preconstruction costs would be applicable. The more extensive redesign would cost <br /> 10 approximately $1,539,000. The Construction Manager estimates a construction cost savings of <br /> 11 approximately $4,158,500. <br /> 12 <br /> 13 Based on an analysis of the construction market by Barnhill, construction costs are not <br /> 14 expected to decline over the foreseeable future. Escalation of material and labor costs is <br /> 15 expected to continue nationally due to supply and demand. Other large construction projects in <br /> 16 central North Carolina are currently being developed and subsequently the project may <br /> 17 experience less interest and less competitive pricing if the project is re-bid at a future date. <br /> 18 <br /> 19 <br /> 20 Travis Myren reviewed the background information for the item and gave the following <br /> 21 PowerPoint presentation: <br /> 22 <br /> 23 Slide #1 <br /> Age nda 9[e m 6-a - <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> 203 South Greensboro <br /> Consideration of Guaranteed Maximum Price <br /> Bard of grange CauntW Commissibners <br /> March 15,2022 <br /> s <br /> 24 <br /> 25 <br /> 26 <br />