Agenda Item #27
Amendment #3 to Agreement for Design/Build Services at Satellite High School
The purpose of this Agenda Item is to close the Agreement for Design-Build Services with The Weitz Company LLC for the Additions and Renovations project at Satellite High School.
The Weitz Company LLC was approved as the Design-Builder for the Additions and Renovations project at Satellite High School on February 13, 2007 for a Guaranteed Maximum Price (GMP) of $28,000,000. Previously approved Amendments #1 and #2 increased the GMP to $30,900,000. Amendment #3 is a decrease to the GMP in the amount of <$4,484,797> to deduct Owner Direct Purchases, Unused Sales Tax Savings, Unused Contingency, Unused General Conditions and an Audit Adjustment.
The final GMP contained in this Amendment is consistent with the Independent Accountant's Report prepared by Carr, Riggs & Ingram dated June 8, 2010.
The decrease of the GMP contained in this Amendment consists of two elements:
The remaining funds in the project will be used to perform additional work at Satellite High School in the following priority:
Upon completion of the additional work listed above, any remaining funds will, upon Board approval, be used to pay debt on the Certificate of Participation (COP) used to fund the project.
Approve Amendment #3 to modify the Agreement for Design-Build Services with The Weitz Company LLC for the Additions and Renovations project at Satellite High School to decrease the Guaranteed Maximum Price (GMP) in the amount of <$4,484,797> to $26,415,203. Accept the Agreement as complete and authorize the release of all remaining retention to The Weitz Company LLC.
Information - 9/14/2010
Consent after Information9/28/2010
Authority for Action
Involves Expenditure of Funds Directly in the Classroom
Source of Funding
Agenda Item will not Require the Expenditure of Funds
Dane Theodore, Director, Planning & Project Management 633-1000 x657
Attachment: Amendment No 3.pdf