Item:
Title
Approve Capital Project Amendment No.25CPA00007 Transferring $600,000 of Budgeted Debt Service Fund Funding to the PAYGO Fund to support the 500 E. Main St. Downtown Parking Deck Capital Project (47302635DC151); as well as Authorize an Increase in the Owner’s Contingency in the Amount of $1,300,000 to Execute Any Necessary Change Orders for the Deck Development Agreement with ZOM Living for a Total Not-to-Exceed of $34,001,100.00
Body
Date of BOCC Meeting: August 12, 2024
Request for Board Action:
Agenda Text
The Board is requested to approve Capital Project Amendment No.25CPA00007 transferring $600,000 of budgeted Debt Service Fund funding to the PAYGO Fund to support the 500 E. Main Street Downtown Parking Deck Capital Project (4730DC151); as well as authorize an increase in the owner’s contingency in the amount of $1,300,000 for the Deck Development Agreement with ZOM Living for a total not-to-exceed amount of $34,001,100 for the 500 E. Main St. Structured Parking Garage. (See Attachments 1-4).
|
Project Name and Number |
Current Budget |
Increase / Decrease |
Updated Budget |
|
500 E. Main St. Downtown Parking Deck |
$34,044,616.00 |
$600,000.00 |
$34,644,616.00 |
The Deck Development Agreement was previously approved by the BOCC on December 13, 2021. At the time of approval/execution, the deck development budget did not include an owner’s contingency for the $26,522,000 construction contract between LeChase Construction and ZOM Living. The original request for owner’s contingency in the amount of $1,326,100 was approved by the BOCC during the October 10, 2022, RS Meeting and an additional contingency request in the amount of $875,000 was approved on April 10, 2023. Construction activities for the deck are nearing completion and are on schedule for completion in September 2024. Due to extraordinary pricing volatility and material escalations the development/contracting team is requesting an additional increase of $1,300,000 to address unforeseen conditions and change orders necessary to close out the project. Completion of this project will provide a parking solution for various County departments, the market-rate and affordable residential, commercial, and retail locations supporting the mixed development/affordable housing initiative along E. Main St. The deck will include 847 parking spaces and its completion will allow the commencement of the 500 E. Main St. affordable housing development that will include 195 units serving 30-80% of the Area Median Income.
Alignment with Strategic Plan: The Project is in accordance with Strategic Plan Goal 4 - Environmental Stewardship and Community Prosperity particularly Strategy 4.2.C - Regional Planning: Participate in smart growth practices and support regional planning partnerships to promote a high quality of life for all.
Resource Persons: Peri Manns, ASLA, LEED GA, Deputy Director of Engineering and Engineering Services; Jay Gibson, P.E., Director of Engineering and Environmental Services; Eric Schoenagel, AIA, Technical Principal, Little Diversified Architectural Consulting; Keith Lane, Budget Director; and Chris Didier, Development Manager, ZOM Living
County Manager’s Recommendation: The County Manager recommends that the Board approve Capital Project Amendment No.25CPA00007 transferring $600,000 of budgeted Debt Service Fund funding to the PAYGO Fund to support the 500 E. Main Street Downtown Parking Deck Capital Project (4730DC151); as well as authorize an increase in the owner’s contingency in the amount of $1,300,000 for the Deck Development Agreement with ZOM Living for a total not-to-exceed amount of $34,001,100 for the 500 E. Main St. Structured Parking Garage. (See Attachments 1-4).
Signature
County Manager: ____________________________