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CC Resolution No. 2537RESOLUTION NO. 2537 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS, APPROVING THE BUDGET FOR THE BAYTOWN CONVENTION CENTER PROJECT; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS: Section 1: That the City Council of the City of Baytown, Texas, hereby approves the budget for the Baytown Convention Center Project, which is attached hereto as Exhibit "A" and incorporated herein for all intents and purposes. Section 2: This resolution shall take effect immediately from and after its passage by the City Council of the City of Baytown. INTRODUCED, READ and PASSED, by the City of Baytown this the 13th day of September, 2018. S ATT T: L TICIA BRYSCH, Clerk APPROVED AS TO FORM: ACIO RAMIREZ,R City Attorney of the City Council of the \ICOBFSOI1Legal\KarenlFiles\City Council\Resolutions\2018\September 13\Approvebudget4BaytownConventionCenterProject.doc Exhibit "A" Construction -General Contractor Site Work & Landscaping Parking Contractor Contingency CGL Insurance & Builders Risk Hazardous Material Insurance Payment & Performance Bond 9/7/2018 $ 19,875,366 $ 11,365,948 $ 31,241,314 $ 569,352 $ 854,028 $ 1,423,380 $ - $ 1,467,934 $ 1,467,934 $ 609181 $ 395.469 $ 1,004,650 $ 548,263 $ 355,922 $ 904,185 $ 102,000 $ 68,000 $ 170,000 $ 140,000 $ 131,700 $ 271,700 $ 21,844,162 $ 14,639,000 $ 36,483,162 Signage (Interior) $ 90,000 $ 60,000 $ 150,000 Change Order Reserve (for IGMP) $ 456,937 $ 500,993 $ 957,930 Construction Contingency (hold of construction) $ 336,888 $ 335,556 $ 672,444 Contract Escalation (for IGMP) $ 161,814 $ 165,139 $ 326,953 FF&EIOS&EIIT/Equipment $ 87,400 $ - $ 87,400 FF&E $ 3,228,577 $ 1,775,257 $ 5,003,834 OS&E $ 1,185,342 $ 1,045,090 $ 2,230,432 IT $ 551,616 $ 367,744 $ 919,360 Kitchen/Laundry Equipment $ 477,073 $ 396,888 $ 873,961 GPP Developer Fees $ 1,339,371 $ 892,100 $ 2,231,471 Soft Costsof • and Working Capital $ 32,951 Site $ 32,951 Construction Manager $ 193,536 $ Land $ 1 $ 0 $ 1 Due Diligence / Market studies $ 51,000 $ - $ 51,000 Survey, Geotech,etc $ 23,400 $ 15,600 $ 39,000 Title Policy $ - $ - $ - Design Fees $ 56,409,460 Architectural and Engineering Fees $ 1,652,150 $ 1,101,433 $ 2,753,583 KPFF (tower structure design) $ 65,000 $ 65,000 Fee Contingency $ 91,187 $ 60,792 $ 151,979 Inspections 3rd Party Testing & Inspection $ 126,600 $ 84,400 $ 211,000 Other Soft Costs Brand, Technical Service and Construction Services Fees $ 306,137 $ 204,091 $ 510,228 Brand Application Fee $ 87,400 $ - $ 87,400 Pre -Opening Budget $ 395,622 $ 388,748 $ 784,370 Legal Fees $ 165,000 $ 110,000 $ 275,000 Property Taxes during Construction $ - $ - $ - City Permit, Impact and Tap Fees $ 125,083 $ 83,389 $ 208,472 GPP Developer Fees $ 1,339,371 $ 892,100 $ 2,231,471 GPP accrued reimbursable expenses / ongoing developer travel $ 32,951 $0 $ 32,951 Construction Manager $ 193,536 $ 129,024 $ 322,560 Developer's Insurance $ 43,800 $ 29,200 $ 73,000 Project Contingency (owner's) $ 596,621 $ 397,748 $ 994,369 Total Soft Costs $ 5,294,858 $ 3,496,525 $ 8,791,384 Subtotal Net of Financing & Working Capital $ 33,627,267 $ 22,782,193 $ 56,409,460