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<br />5.2A
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<br />RE. P..O.R..' T
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<br />To the.CityC091l~iJ..n:J~deveIQprllent .Agency Board
<br />From the Ci-.J Manager and the Executive Director
<br />
<br />
<br />July 24, 2006
<br />
<br />Subject
<br />Final Acceptance - Construction and Reimbursement Agreement for Downtown Public Parking
<br />Facility
<br />
<br />Recommendation
<br />Accept the Downtown Underground Public Parking Facility and release remaining retention, less
<br />$250,000 for minor outstanding items to be completed to the satisfaction of the Community
<br />Development Services Director. The total cost of construction is $19,683,247.
<br />
<br />Background
<br />On October 23, 2003 the City Council and the Redevelopment Agency (RDA) Board entered
<br />into an agreement with On Broadway Redwood City, LLC (assignee of BHVVentures I, LLC) to
<br />construct an underground public parking facility in the downtown. The approved not-to-exceed
<br />cost of the work at that time was $17,480,000. This budget included construction costs
<br />($15,730,000), testing and inspection ($200,000), design support during construction ($300,000),
<br />parking control equipment ($250,000), and a construction contingency ($1M). Additionally, per
<br />the agreement, there was a 3% construction management fee of $471,900 included for a total of
<br />$17,951,900. Changes to the design, specifically the foundation system and subsequent
<br />increases in material costs, weather delays, and approved change orders brought the total cost
<br />to $18,576,500.
<br />
<br />After final revisions and completion of the construction documents and receipt of all
<br />subcontractor bids, the revised project budget was approved and increased to $19,686,500 by
<br />the City Council and RDA Board on November 8, 2004 in the First Amendment to the
<br />Construction and Reimbursement Agreement. This amount included the initial preconstruction
<br />design cost of $650,000 (a soft cost), the previously approved agreement amount plus change
<br />orders ($18,576,500), and an additional City contingency of $460,000 (exterior and interior
<br />garage signage/murals, and additional general contingency). This was the final not-to-exceed
<br />("wrap") budget.
<br />
<br />Original budget (with redesign and change orders) - $18,576,500
<br />First Amendment (11-8-04) - 1.110.000
<br />
<br />Total Construction Cost (Council approved) $19,686,500
<br />
<br />The project has been successfully completed in accordance with the plans and specifications for
<br />a total cost of $19,683,247 (with approximately $900,000 or 5% still held for retention). This
<br />figure represents all of the cost of construction (hard costs) including the demolition and utility
<br />REOEVSHAREDI2006 STAFF REPORTSJ07-2006lFlnal Parking Garage Acceptance 1
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