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Construction Contract for the Cypress Center Restoration October 21, 2025 Page 3 specifications, and expectations, delivering work that staff found to be both high in quality and efficiently completed. (Exhibit 3). Project Delivery To deliver a complete project, in addition to the construction contract, the estimated total project delivery cost includes a budget allocation for construction administration, inspection, and testing. Construction administration and inspection may be performed by either Staff or consultants and includes construction management, inspection of the Contractor’s work to ensure contract compliance, workmanship and quality, materials testing, and implementation of the labor requirements. Any of the allocated construction administration funds not spent are considered project savings and are returned to the respective fund balances upon close out of the project. As indicated in the Cost Analysis and as summarized in the table below, the estimated total construction delivery cost of the project is $3,894,340. Project ItemTotal Construction Contract Bid Amount$3,322,512 Construction Administration$127,775 Inspection$79,860 Testing$31,943 Unforeseen Conditions$332,250 TOTAL ESTIMATED CONSTRUCTION DELIVERY COST$3,894,340 Project Schedule and Contract Time The project completion date is scheduled for November 2026, barring unforeseeable conditions such as rain, natural disasters, or other delays beyond the control of the City and of the Contractor. The contract duration allotted for this project is 250 working days, as specified in the bid documents. The 250 working days are necessary due to the building’s historic status, coordination of multiple trades, and long lead times for specialized materials, such as electrical switchgear, and procurement of historically appropriate components. Working days are counted in accordance with the City’s Standard Specifications, which exclude weekends, City-observed holidays, and inclement weather days that prevent work. The contractor was required to submit a construction schedule as part of their bid to expedite delivery of the project. The projected completion date based on the submitted schedule is November 2026, which is within the allotted 250 working days. If the contractor fails to deliver on time they will be assessed a penalty of $1,200 per calendar day as specified in the bid documents.