MADRID & ASSOCIATES - 2011 - Laserfiche WebLink

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COMMENTS PROJECT OVERALL PERCENTAGE OF COMPLET /ON We currently estimate the project's overall percentage of completion at 67 %. CHANGE ORDERS (OCOs) FYI -Given the subject building's age, scope of the proposed renovations and expected "unforeseen" added improvements, typically associated with this type of product, we anticipate a significant amount of cost impacting scope changes to surface during the early phases of construction. We expect the change orders will significantly subside once all the "unforeseen" have been identified. From that point on, project change orders most likely will involve Owner requested improvements. Current Chance Order Included in the contractor's current payment application request is Owner approved Change Order # 1 O, totaling $19,828 (pre- approved by all parties at last month's draw meeting). Change Order # 1 O is comprised of 3 PCIs, consisting primarily of added Garden Roof waterproofing and minor miscellaneous items. No time extensions are included in current change order. We take no exception to the content or costs associated with a// change orders approved to date. Please refer to Approved Change Orders for a list of "approved" project change orders submitted to date. PEND /NG 8 POTENT /AL CHANGE /TEMS (PC /s) Approved for submittal in next month's payment application is pending Change Order # 11 , totaling $79,5128. Change Order # 11 is comprised of 6 PCIs, consisting primarily of additional fire department changes (ratings) and several miscellaneous Owner requested improvements. HARD COST CONTINGENCY Latest Sources and Uses of Funds indicate an infusion of $448, 639 into the project's origins/ hard cost contingency budget. Our understanding of the project's hard cost contingency budget is as fo / /ows: Origins/ Hard Cost Contingency Budget: Added Hard Cost Contingency Funds: Revised Hard Cost Contingency Budget. Change Orders Approved To Oate: Committed Contingency Funds $ �, 643, � 02 $ 448, 639 $ 2,099,749 $ 9, 389, 700 (Through Change Order # 90 ) $ 9, 389, 700 (66% of contingency budget ) Remaining Hard Cost Contingency funds: $ 702, 049 (34 % of contingency funds remaining ) CONSTRUCT /ON SCHEDULE Assuming no additional last minute City changes to the City approved scope of work, we currently feel the contractor's 11/14/1 O estimated completion date (TCO) remains feasible. By the end of July, we will be in a better position to evaluate the reasonableness of the contractor's estimated completion date.