After the design preference was settled back in July, the costing out of the Rec Center project has been able to proceed with more certainty. As eagle-eyed observer Lorne has noted on that July post, the new numbers going to Council are sizable--more sizable than expected just a couple of years ago. The parameters from the Staff Report are:
The project hard costs include local prevailing wage construction costs based on a design-bid-build procurement process with competitive bidding for all sub-trades of the construction work, general contractor’s job site management costs, general contractor’s insurance and bonding costs, and general contractor’s profit. The project soft costs include allowances for engineering and design fees, construction management, permit fees, inspections, and testing. The project contingency allowance is calculated at 10% of the project hard cost and 5% of the project soft cost, and the escalation allowance is calculated at 5% per annum on the project hard cost estimated to the midpoint of construction. Construction is anticipated to be January 2020 to December 2022.
I'm having trouble copying and pasting the chart from the Staff Report, so here are the totals by line item using the parameters above, i.e. all in with contingencies and escalations and rounded off to the nearest $100K:
Playground, Multi-court, Picnic Area $2.4 million
Building, Associated Sitework, Parking $49.9 million
Furniture, Equipment, Technology $2 million
Everything Else $4 million
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Total $58.3 million
Many thanks to Lorne for spotting this in a timely fashion. We'll have to wait and see if there is any value engineering to be done. In the meantime, here is the financing plan
In November 2017, the voters of Burlingame approved Measure I, a ¼ cent sales tax measure that will generate an estimated $1.75 million to $2 million annually. At the January 27, 2018 goal- setting session, the City Council discussed the City Manager’s recommended expenditure plan for the Measure I funds, which included an annual pledge of $1 million toward debt service on the issuance of lease revenue bonds. The City Council approved the recommendation on February 20, 2018. An additional $1 million annual General Fund transfer was approved in the 2018-19 fiscal year budget, also intended to fund the debt service, to allow for a lease revenue bond issuance of approximately $30 million for the Community Center project.
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